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Technological advancement is opening new doors to the growth of Pressure Sensors for automotive and medical applications - New Report by MarketsandMarkets
Date:6/9/2013

(PRWEB) June 09, 2013

According to a new market research report “Pressure Sensor Market (2012 – 2017) - Global Forecast, Trend & Analysis – Segmentation by technology [Piezoresistive, Capacitive, Electromagnetic (Reluctance), Resonant Solid State, Optical], Applications [process and non process] and Geography”, The value of pressure sensor market was $5.11 billion in 2011 and is expected to reach $7.34 billion in 2017, at an estimated CAGR of 6.3% from 2012 to 2017. In terms of volume, the total number of pressure sensors shipped was 8.7 billion in 2011 and is expected to reach 16.37 billion units by 2017, at an estimated CAGR of 11.3% from 2012 to 2017.

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In the modern world, the need for pressure sensors is evolving and continuously growing. Today’s pressure sensors mainly utilize digital technology; which means they are better in efficiency and sensing performance. Pressure sensors have a significant place in different industry verticals. The major applications of pressure sensors are in petrochemical industry, automotive industry, consumer electronics industry, process industries, and healthcare.

The largest application segment for pressure sensors is the automotive segment due to their (automotives’) use in tyre pressure monitoring systems, engine management, and automatic transmission. The petrochemical and oil and gas segment follows as the second largest application segment for pressure sensors. In the medical industry, pressure sensors are
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