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Request for TOC report @ http://bit.ly/2rLBGZi<br>The pressure sensor market globally is mainly driven by industrial advancements in MEMS (microelectromechanical systems) technologies. The advancements have led to a miniaturization of these products resulting in increasing reliability, accuracy, & performance. The pressure sensor market growth is triggered due to various factors such as the growth in Asian economies, miniaturization, and vehicle production in emerging and developing countries. <br>
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Pressure Sensor Market Share, Applications, Segmentations & Forecast by 2024: Global Market Insights, Inc. Fuel Cell Market size worth $25.5bn by 2024
Regional Analysis of Pressure Sensor Market : • Pressure sensor market has a growing demand in the construction industry owing to the rapid infrastructural developments in the countries such as India and China. These sensors are also incorporated in the load monitoring systems, which helps in preventing the crane operator overloading. • Furthermore, it helps in transmitting information associated with the forces acting on the crane, such as the motion and geometry of the crane and where the loads are applied. • This information is then displayed by the load moment indicator, which warns the crane operator when the load is near or at capacity. This will boost the pressure sensor market demand over the forecast timeline.
Application Analysis of Pressure Sensor Market: • Based on technology, the pressure sensor market can be segmented into potentiometric, electromechanical, electromagnetic, inductive, capacitive, strain gauge, piezoelectric, and optical systems. The optical devices are capable to easily withstand electromagnetic intrusion and are progressively substituting the electromagnetic pressure sensors. The compact design and high reliability will enable optical systems to be used in miniaturized applications which will further increase the demand for the segment in the pressure sensor market. • Based on application, the pressure sensor market is segmented into oil & gas, automotive, consumer electronics, and utility among others. Increasing adoption of these products in sectors such as aerospace, automotive, electronics, industrial, healthcare, military & defense, oil & gas, and utility is anticipated to give the industry a substantial boost over the forecast period. Major industries using these systems include machinery, machine tools, packaging, plastics, and many others. Furthermore, industrial verticals such as automotive, electronics, and healthcare are expected to witness a wide implementation of these sensors. Other industries such as construction, aircraft building, shipbuilding, and household appliances also contributes to the pressure sensor market growth.
Competitive Market Share of Pressure Sensor Market: • The key players in the pressure sensor market include ABB Ltd., Denso Corporation, Honeywell International, Inc., General Electric, Freescale Semiconductor, Inc., and OMRON Corporation. Other notable industry players include Measurement Specialties, Inc., Robert Bosch GmbH, The Emerson Electric Company, and STMicroelectronics N.V. Various R&D activities are being carried out by these industry participants to improve the power consumption levels of the appliances in which these sensors are being used. • In October 2014, Freescale Semiconductor, Inc. announced the launch of a compact tire pressure tracking device using these products to ensure that the tires are inflated properly.
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