|
Home | Search Global IT News:
|
|
|
|
|
IT News & Press Release Distribution:
|
|
|
(IT-NEWSWIRE.COM, December 05, 2019 ) According to the new research report "Pressure Sensor Market by Product Type (Absolute, Gauge, Differential, Sealed, and Vacuum), Technology (Piezoresistive, Capacitive, Resonant, Electromagnetic, and Optical), Application, Function, End-User Industry, and Geography - Global Forecast to 2024", the pressure sensor market is projected to grow from USD 17.4 billion in 2019 to USD 23.6 billion by 2024, recording a CAGR of 6.3%. Advancements in nanoelectromechanical system (NEMS) technology and large-scale adoption of the Internet of Things (IoT) platform and remote connectivity provide major growth opportunities to pressure sensor market players. The pressure sensor market growth is mainly driven by advancements in microelectromechanical systems (MEMS), increase in demand from automotive and medical industries, stringent government regulations, and rise in the adoption of smart technology.
Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=871
Optical technology to witness the highest CAGR during the forecast period
Optical technology is projected to record the highest CAGR in the pressure sensor market from 2019 to 2024. Applications in which other pressure sensing technologies are not effective due to electromagnetic interference, optical pressure sensors work effectively due to their immunity to interference. Optical pressure sensors also operate effectively in the presence of chemicals or explosive materials.
Piezoresistive technology to hold the largest share in the pressure sensor market during the forecast period
The technology segment comprises piezoresistive, capacitive, resonant, electromagnetic, optical, and others (potentiometric, piezoelectric, and thermal technologies). The piezoresistive segment in the pressure sensor market is projected to hold the largest share during the forecast period. This segment is likely to retain its lead in the market during the forecast period, due to its suitability for measuring absolute, gauge, vacuum, and differential pressures. These sensors find applications in washing machines, dishwashers, vacuum cleaners, oil & gas level air pressure detection, blood pressure measurement, and others.
Emerging automobile and industrial manufacturing companies to drive the demand for pressure sensors in the Asia Pacific region during the forecast period
The pressure sensor market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the pressure sensor market in Asia Pacific. The pressure sensor market in Asia Pacific witnesses growth due to the emerging automobile and industrial manufacturing companies and the rising demand for pressure sensors from the overseas markets of North America and Europe.
Key players operating in the pressure sensor market include Honeywell (US), ABB (Switzerland), Amphenol (US), BD Sensors (Germany), Emerson Electric (US), First Sensor (Germany), Micro Sensor (China), Quartzdyne (US), Sensata Technologies (US), and Crane (US). Other major companies focus on organic and inorganic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to increase their revenue.
Don’t miss out on business opportunities in Pressure Sensor Market . Speak to our analyst and gain crucial industry insights that will help your business grow.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™
Mr. Shelly Singh
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
|
|
|
|
Information Technology (IT) Advertisement
|
|
|
|
|
Information Technology Sponsors
|
|
|
|
|
