Market Revenue Pressure Sensor Industry Segmentation, Size

Pressure Sensor Industry Segmentation, Size and Growth
Prospects, Share Forecast 2024
“Pressure Sensor Market size was valued at USD 7,096.7 million in 2015 and
is anticipated to reach USD 11,396.3 million by 2024. The global pressure
sensors market is expected to grow at a significant pace over the forecast
period owing to their application in numerous industries.”
The global Pressure Sensor Market size was valued at USD 7,096.7 million in 2015 and is anticipated to reach
USD 11,396.3 million by 2024. The global pressure sensors market is expected to grow at a significant pace over
the forecast period owing to their application in numerous industries. The integration of Micro-Electro-
Mechanical (MEMS) technology with the pressure sensors helped in diversifying the scope of their application.
MEMS technology is mostly widely used in industrial processes, level measurements, control applications, and
HVAC applications.
The nanotechnology and micro technology has witnessed significant development owing to the high demand
for high performance, reliable and low in cost sensors. This has opened up huge opportunities for
miniaturization, low power consumption, and mass production. These sensors are increasingly being merged
with tablets and smartphones driving the growth of the global pressure sensors market. The regulation of
installation of Tire Pressure Monitoring Systems (TPMS) mandatorily in the U.S. has also led to the growth of
the overall market. The growth in the number of vehicles being purchased all over world is forecasted to increase
the global pressure sensors market demand.The global pressure sensors market has seen a major shift from
analog technology to digital technology in the recent past. This shift has led to an increase in their efficiency and
sensing performance. The market is characterized base on technology into electromagnetic, piezoresistive,
resonant, capacitive, and optical solid state sensors. In 2013, the global pressure sensors market was largely
dominated by electromagnetic and piezoresistive.
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