Global Pressure Sensors Market 2018-2022
About Pressure Sensors
A pressure sensor is a device that is used to detect pressure changes and convert it into an electrical signal, which can be modulated depending on the intensity of pressure.
Technavio’s analysts forecast the global pressure sensors market to grow at a CAGR of 7.43% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global pressure sensors market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pressure Sensors Market 2018-2022
Technavio recognizes the following companies as the key players in the global pressure sensors market: Bosch, Continental, DENSO, Infineon Technologies, and Sensata Technologies.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing acceptance of smart sensors and sensor fusion technology. Traditional pressure sensors generate an electrical signal with a varying voltage that is proportional to the pressure recorded. However, the signal may not provide any compensation for the temperature. To overcome this, hybrid fusion sensors can be created, which can generate an electrical signal without any temperature loss.”
According to the report, one driver in the market is growing adoption of smartphones and tablets. Pressure sensors such as capacitive sensors are in high demand in smartphones and tablets, as they almost eliminate the problem of wear and tear in devices compared with mechanical input devices, providing customers with the great user experience. Shipments of smartphones have grown rapidly worldwide during 2009-2016. Unit shipments increased from 174 million in 2009 to 1.41 billion in 2016. Samsung, a major smartphone manufacturer, shipped close to 397 million units in 2016.
Further, the report states that one challenge in the market is rising demand for EVs to affect automotive pressure sensors market. Automobiles have an electronic component content going as high as 50% of the total cost of the automobile, owing to increased safety features like driver assistance system (DAS) and regulatory mandates stipulating mandatory installation of on-board diagnostics (OBD2) to reduce greenhouse gas (GHG) emissions. However, in EVs, the electronic content can go as high as 70%, owing to the electrification of terrain and advanced safety features.
Bosch, Continental, DENSO, Infineon Technologies, and Sensata Technologies.
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