Pressure Sensor Market Analysis And Segment Forecasts To 2024
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Pressure Sensor Market Analysis And Segment Forecasts To 2024 The global pressure sensor market size is expected to reach USD 11,396.3 million by 2024 according to a new study by Grand View Research, Inc. The global Pressure Sensor Market was valued at USD 7,096.7 million in 2015. The market is anticipated to experience surges in growth owing to the utility of pressure sensors in diverse industry verticals. The emergence of pressure sensors in corporate in the Microelectromechanical Systems (MEMS) technology is further impelling growth in the industry andis substantially increasing the application scope of such sensors. Browse the report: http://www.orbisresearch.com/reports/index/pressure-sensor-marketanalysis-by-technology-application-and-segment-forecasts-till-2024 The demand for high-performance, cost-efficient, and reliable sensors has increased, leading to a higher spending by industry vendors in R&D activities. Technological proliferation and advancements in the nanotechnology and micro-technology present several opportunities, such as miniaturization, low power consumption, and mass production of such sensors. The increasing adoption of pressure sensors in consumer goods and wearable devices, such as watches, tablets, and smartphones, are substantially contributing to the industry expansion. The use of MEMS pressure sensors in the industrial control applications and processes, HVAC applications, and level measurements is instrumental in energizing the industry prospects.
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Pressure Sensor Market Analysis And Segment Forecasts To 2024 The automotive sector emerged as the largest application segment for pressure sensors, accounting for 27.2% of the global market. Pressure sensors are widely used in the automotive industry for monitoring the pressure of crucial parameters such asbrake, transmission,fuel, andoil. Such sensors are used inequipment or systems for monitoring the tire pressure, gasoline direct-injection systems,barometric pressure measurement, pressure measurement of exhaust gas recirculation, and side airbags. Request a sample of the report: http://www.orbisresearch.com/contacts/request-sample/112758 The key vendors in the industry are undertaking several competitive strategies such as mergers & acquisitions to gain market share. The key players dominating the industry includeABB Ltd., Analog Devices, Bosch, Delphi Corporation, Emerson Electric Company,General Electric, Infineon,NXP Semiconductors, Siemens AG,andSTMicroelectronics N.V.
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