According to the research report titled ‘Differential Pressure Sensor), By Technology (Piezoresistive, Capacitive, Resonant Solid-State, Electromagnetic, Optical, Piezoelectric), By Output (Analog, Digital), By Application (Automotive, Industrial, Consumer Electronics, Healthcare, Oil & Gas, Aerospace & Defense), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global pressure sensor market is expected to generate lucrative returns by the year 2027.
 

Widespread adoption of optical sensors, growing demand for sealed pressure sensor in industrial applications, and high integration of the product in smartphones are major factors driving the growth of global pressure sensor market.

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A pressure sensor is basically an instrument that can measure the pressure in gases or liquids. They are made up of pressure-sensitive element that can effectively identify the pressure being applied and coverts this data into an output signal.

Based on product landscape, the report cites that global pressure sensor market share from the others segment is expected to register 3% CAGR during the analysis timeframe. The product is less prone to imprecisions in extreme environmental conditions, and hence is extensively  in industrial as well as marine applications, thereby fueling the segmental share.

Moving on to technology type, optical segment is predicted to expand at 6% CAGR through 2027, owing to growing product demand from the healthcare sector and its beneficial attributes such as high flexibility and compact size.

Highlighting the application scope, Global pressure sensor market share from the consumer electronics segment is anticipated to showcase a 6.5%  annual growth during the study period, primarily driven by widespread adoption of the product in smartphones.

In terms of geographical spectrum, Latin America market is expected to record 5% CAGR through 2027, on account of increasing government initiatives towards expansion the regional manufacturing sector.

The major companies operating in global pressure sensor market are TE Connectivity, Siemens AG, Sensata Technologies Inc., Schneider Electric SE, Rockwell Automation Inc., Phoenix Sensors LLC, Omron Corp., NXP Semiconductors N.V., Nidec Copal Electronics Corp., Micro Sensor Co. Ltd., Kita Sensor Tech Co. Ltd., ifm electronic gmbh, Honeywell International Inc., Endress+Hauser Group, Emerson Electric Co., Crane Aerospace & Electronics, Continental AG, Bosch Sensortec GmbH, BD|SENSORS GmbH, Amphenol Advanced Sensors, Acuity Incorporated, and ABB Ltd. among others.