Global Force Sensors Market
Force Sensors Market
The market worth is $1.84 billion in 2014, and is estimated to grow to $2.47 billion by the end of 2020, at a CAGR of 5.03% over the six year forecasted period. Over the past decades, sensors have become an important part of any automation and measurement applications. The significant growth of advanced electronic control systems coupled with rise in sensor accuracy, response time, reliability, robustness, miniaturization, efficiency and communications capability is leading to growing demand for sensors across various end-use sectors.
The Force sensor acts as a force sensing resistor in an electrical circuit. When the force sensor is unloaded, its resistance are very high. When a force is applied to the sensor, this resistance decreases. The resistance can be measured by a multimeter, then applying a force to the sensing area. The applied pressure is sensed by the force sensors and the corresponding value electrical current will be generated.
Force sensors has many benefits like its ultra-thin sensor construction and flexibility which means minimal interference/disturbance to normal action and its accurate response gives end users confidence in the performance of the product. Force sensors can also be used in Wireless Inventory Management, which can improve order scheduling, avoid having to stop production caused by low inventory of a particular part. And these are economically profitable as they lower the cost associated with manual and repeated physical inventories and the cost associated with sales visits to check inventory is also minimized.
Low manufacturing cost, technological development, growing implementation in the medical devices improvement, high growth of industrial robots and increase in demand for reliable products are few drivers for the increase in demand for these sensors in the global market. However, aftermarket sales channels are not yet fully developed and volatility in demand across key end-user sectors are some of the factors serving as impediments to market growth.
The market for force sensors has been segmented into different types and applications.As per type, the market has been bifurcated into numerous types of force sensors depending upon their working and sensing method which includes capacitive force sensors, Strain gauges, Piezo-resistive force sensors, Optical force sensors (Fibre-Optic, Optical Markers, Opto-Mechanical, Photo elasticity and others), Load cell sensors (Beam Style, S Beam, Canister, Pancake and Others), Ultrasonic Force Sensor, Pyro-electric Force Sensors, Magnetic Force Sensors (Hall Effect, and Magneto elastic) and Electrochemical Force Sensor.
Manufacturing, Healthcare, Automotive and several other industries have comprehensive application for these types of sensors. The force sensors are used in microelectronic packaging, manufacturing tools, transportation equipment, robotics used for various applications as assembly, material removing, part fitting and many other such activities. The market for Force Sensors is estimated to grow moderately over the forecast period.
The market has also been geographically segmented into different regions such as North America (US and Canada), Europe (Germany, France, UK, Italy, Spain and others), APAC (China, Japan, India, Australia, South Korea and others), Middle East and Africa (UAE, Saudi Arabia, Israel and Others) and Latin America (Brazil, Argentina, Mexico and Others).
In 2014, North America dominated the force sensors market owing to increasing applications in the end user industry and rapid technological advancements. Asia Pacific (APAC) is the fastest growing region in the global force sensors market over the forecast period owing to presence of large number of developing economies such as India, Indonesia and Taiwan as well as developed economies such as Japan and China; opening gateway of opportunities for the vendors.
Some of the market players mentioned in the report are Futek Advanced Sensor Technology Inc., Texas Instruments, Omron, TE Connectivity, Siemens AG, ATI Industrial Automation and Tekscan Inc.
Key Deliverables in the Study
Market analysis for the global force sensors market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the force sensors market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped