Global Force Sensors Market - Segmented by Type (Piezoresistive, Capacitive, Capacitive, Strain Gauges), End-user, and Region - Growth, Trends and Forecasts (2018 - 2023)
The Force Sensor Market was valued at USD 2.156 billion in 2017, and it is expected to reach USD 3.067 billion by 2023, registering a CAGR of 5.9%, over the forecast period of 2018-2023. The scope of the report is limited to solutions offered by major players, including providers of different kinds of force sensors. The study also emphasizes on how a surging demand in the automotive sector is affecting the market.
Force sensors are devices that convert external force into digital signals, thus, assisting the parent system to detect, measure and monitor the magnitude, as well as direction of the applied force. The market is observing a lucrative growth, owing to falling sensor and platform prices, widening applications of sensors and heavy R&D investment. These sensors have improved the monitoring and management of networked embedded systems. Moreover, the adoption of automation has transformed the force sensor market landscape, as these sensors have become critical to all automated equipment, offering accuracy and precision in all operations. Also, OEMs have adopted thin-film piezo-resistive flexible force sensors, owing to their flexible capabilities and ease to integrate into a myriad of designs, further driving the force sensors market.
Innovation and Development in the Consumer Electronics Sector to Drive the Market
Touch interaction with consumer electronic devices has become more pervasive in the recent years, driving the technologies that enhance and enable intuitive human-machine interactions. Since the mobile era, touch screens have been at the core of the user interface for electronic devices. However, as the technology behind touch interfaces begins to saturate, companies have begun to look beyond touch interactions for future user interfaces. This has allowed designers to seamlessly integrate force sensors into new designs, as well as the next generation of user experience for appliances. Using force sensors has enabled even the most basic implementation a switch to be engendered with multi-functionality.
Automotive to Have Highest Market Share
There has been increasing innovation in cars, like electric cars, driverless cars, and IoT implementations, which provides ample scope for incorporation of force sensors as part of regulation, compliance/safety issues. Load cells are used in a variety of applications for pedal force measurement, vehicle performance testing, component and systems monitoring, and crash test analysis. Moreover, other automotive applications, such as in heavy vehicles to track the force experienced by parts of the automotive vehicles, such as axle beams to avoid fatigue failure, are expected to drive the market.
North America to Have the Highest Share
The rapid growth in the sale of force sensors in the United States is majorly driven by automotive end-markets, partially due to huge product obsolescence in the occupant weight sensing applications. Due to this, new business opportunities have emerged in the market. The market in the region is also driven by increasing awareness toward fuel economy and upcoming emission requirements, for instance, the Corporate Average Fuel Economy (CAFE) requirements in the United States. Moreover, in Canada, low cost, compact size, eco-friendly nature, and bulk manufacturing capability are the key drivers. Also, increased R&D in the sensor industry is creating opportunities for technological advancements that are opening new horizons for sensor applications in the country.
Major Players - Futek Advanced Sensor Technology Inc., Tekscan Inc., Hottinger Baldwin Messtechnik (Hbm) Gmbh, Kavlico Corporation, Flintec Group Ab, Tecsis Gmbh, Shenzhen New Degree, Technology Co. Ltd, Uneo Inc., Sensel Inc., Tangio Printed Electronics, Nextinput Inc., Pressure Profile Systems Inc., Peratech Holdco Limited, Alps Electric Co., Synaptics Incorporated, And Interlink Electronics Inc., among others.
Key Developments in the Market
- September 2017 - FUTEK released a new miniature S-Beam load cell, which has a capacity range from 1 to 100 lb. This load cell is designed for line tension and compression applications and has a PT-1000 temperature sensor to monitor temperature changes in the applications as well. This miniature load cell also includes a PT-1000 temperature sensor, which allows for temperature changes in applications to be monitored
- September 2017 - Micro-measurements a brand of VPG Inc., introduced lightweight hybrid sensors for force, pressure, displacement, strain and acceleration measurements within high-volume OEM and test applications. These sensors can support a variety of high-volume OEM consumer product, process control, automotive testing, non-critical medical device, educational research, and industrial requirements.
Reasons to Purchase the Report
- Analysis of how the surging demand from the automotive market is changing the market scenario.
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis.
- The sensor type and application that are expected to dominate the market.
- The regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
- This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook