Pressure Sensors Market have to be used in Tire Pressure Monitoring Systems (TPMS) which was made mandatory by the U.S. government, which has contributed significantly to product demand. Additionally, growing number of vehicles on a global level is also expected to be a key driving force for the market.
Automotive was the largest market segment in 2012, wherein applications include brake sensors for electronic stability control systems, side airbags, tire pressure, exhaust gas recirculation pressure, barometric pressure, gasoline direct-injection systems, etc. Consumer electronics is also expected to be a fast growing application, with pressure sensors being incorporated in smartphones for indoor navigation, measuring altitude as well as for global positioning systems (GPS).
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In the medical sector, growth is expected to be driven by blood pressure monitoring devices and other health monitoring gadgets, mainly due to reducing form factors. Estimated reduction in prices is expected to accelerate market growth over the next few years. In terms of product segments, piezoresistive and capacitive sensors have dominated the market; optical sensing technology is expected to pick up speed in the years to come. The significant number of pressure sensors used in aircrafts is expected to drive the military and aerospace segment.
Asia Pacific is expected to remain the highest revenue generator through the forecast period. This is mainly on account of growth in application sectors and increasing demand from countries such as India and China. High capital investment for production facilities and effective strategies to sustain in the intense competition are among a few requirements for market entry aspirants. Industry participants have been focusing on research and development activities in order to deliver innovative products spanning numerous end-use industries. Major market players include ABB Ltd., Analog Devices, Bosch, Delphi Corporation, Freescale Semiconductor Ltd., General Electric, Infineon, Siemens AG, STMicroelectronics N.V., and Emerson Electric Company among others.
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