Pressure sensors are used in many industries, and the use of microelectromechanical systems (MEMS) technology in pressure sensors is expected to further widen the application scope. This can be attributed to the benefits offered by MEMS, including reduced cost and power consumption, as well as high performance and miniaturization. Pressure sensors 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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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. This research report provides comprehensive market statistics and forecast for key segments, and provides complete industry landscape including drivers, restraints, regulatory scenario, technology trends and future opportunities.
Key regional markets analyzed and reported in this study include:
· North America
· Asia Pacific
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