Pressure Sensor Market Worth $20.8 Billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 17, 2020 /PRNewswire/ -- According to the new market research report "Pressure Sensor Market by Product Type (Absolute, Gauge, Differential, Sealed, and Vacuum), Technology (Piezoresistive, Capacitive, Resonant, Electromagnetic, and Optical), Application, Function, End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the Pressure Sensor Market is expected to grow from USD 13.6 billion in 2020 to USD 20.8 billion by 2025; it is expected to grow at a CAGR of 8.9% during 2020–2025. Key factors fueling the growth of this market include advancements in microelectromechanical (MEMS) sensors, increase in demand from automotive and medical industries, and stringent passenger safety regulations. Increasing use of pressure sensors in smartphones is also expected to support in growth of pressure sensor market, in the midst of COVID-19.

Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=871

Absolute pressure sensors is expected to gain a significant share of pressure sensor market by 2025

The absolute pressure sensors is expected to account for the largest share of the pressure sensor market by 2025, which can be attributed to its usage to measure pressure changes in barometric pressure or as altimeters. Absolute pressure sensors are used to measure pressure, referred to as vacuum or zero pressure. Absolute pressure sensors find their application in food & beverages, medical equipment manufacturing, and consumer products.

Piezoresistive technology is expected to gain a significant share of pressure sensor market by 2025

The piezoresistive technology is expected to account for the largest share of the pressure sensor market by 2025. The growth of the segment can be attributed to the suitability of piezoresistive technology for measuring absolute, gauge, vacuum, and differential pressures. These sensors find applications in washing machines, dishwashers, and vacuum cleaners, where they are used for oil & gas level air pressure detection, blood pressure measurement, and others.

 Based on end-user industry, market for consumer electronics end-user industry to grow at the highest CAGR from 2020 to 2025

The market for the oil & gas industry is expected to grow with the highest CAGR during the forecast period, owing to pressure sensors becoming smaller in sizes, less costly, and more power-efficient than those in the past. These developments have encouraged their use in portable devices (smartphones, wearables, and tablets), gaming, navigation, and home appliances.

Browse in-depth TOC on "Pressure Sensor Market"
211 – Tables
84 – Figures
288  – Pages

Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=871

Pressure sensor market in APAC to grow at the highest CAGR during the forecast period

The pressure sensor market in APAC is expected to grow at the highest CAGR during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the pressure sensor market in APAC. The pressure sensor market in Asia Pacific is likely to be driven by the evolving automobile and industrial manufacturing companies and the rising demand for pressure sensors from the overseas markets of North America and Europe.

Key players in the market include Honeywell (US), ABB (Germany), Emerson (US), Amphenol (US), Sensata Technologies (UK), BD Sensors (Germany), First Sensor (Germany), Microsensor Co. Ltd. (China), Quartzdyne (US), and Crane Co. (US). These players are increasingly undertaking product launches and developments, partnerships, contracts, expansions, and acquisitions, to increase their market shares.

Related Reports:

Temperature Sensor Market by Product Type (Thermocouples, RTDs, Thermistors, Temperature Sensor ICs, Bimetallic, Infrared, and Fiber Optic Temperature Sensors), Output, End-user Industry, and Region – Global Forecast to 2027

Industrial Sensors Market by Sensor (Level Sensor, Image Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Force Sensor, Flow Sensor, Temperature; and Humidity & Moisture Sensors), Type, Application, and Geography - Global Forecast to 2023

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/pressure-sensor-market.asp
Content Source : https://www.marketsandmarkets.com/PressReleases/pressure-sensor.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg