Pressure Sensor Market revenue will reach $12.

07
billion by 2024, says Esticast Research and Consulting

As per the report Pressure Sensor Market by Type (Piezo-

resistive, Electromagnetic, Capacitive, Resonant, solid state,
Optical), Industry trends, Estimation & Forecast, 2016 - 2024"
The global pressure sensor market was valued at $7.2 billion in 2016, and is projected
to reach $12.07 billion by 2024, growing at a CAGR of 6.7% from 2017 to 2024. In
2016, the Piezoresistive sensor market generated the highest revenue share in the
global pressure sensor market. Among major regions, North American pressure
sensor market was the highest revenue generating market valued at $2 billion in
2016.
A drastic increment in the usage of pressure sensors in automotive
industry, improvisations in MEMS & NEMS technologies and demand of
pressure sensors in consumer electronics has boosted the growth of
pressure sensor market all over the globe. The use of pressure sensors in the
medical field can act as a growth opportunity for the market.
Piezoresistive Sensors Lead The Global Pressure Sensor Market
In 2016 Growing With A Cagr Of 6.5% During The Forecast
Period

The piezoresistive sensors lead the global pressure sensor market

garnering a revenue of $2.01 billion in 2016. This is because piezoelectric
pressure sensors can detect the strain and pressure that is applied on the
strain gauge. By the help of piezoresistive pressure sensors one can
measure, vacuum, absolute & differential pressure. Piezoresistive
pressure sensors find diverse application areas, which are biomedical
sector, automotive, and household gadgets. However, optical sensor
market is expected to grow with the highest CAGR of 7.5% during the
forecast period.
Automotive Industry Generated Highest Revenue In Terms Of
Pressure Sensors, In 2016, And Is Expected To Grow With A Cagr
Of 6.9% During The Forecast Period

Automotive industry generated a revenue of approx. $1.87 billion in

2016, holding nearly 26% of the global pressure sensor market. It is
expected to grow with a CAGR of 6.9% during the forecast period.
However, consumer electronics segment is expected to grow with the
highest CAGR of 7.4% during the forecast period owing to the highly
improvised technology and incorporation of pressure sensors into
different types of consumer electronic devices such as smartphones,
wearable devices, and tablets for performing different operations
more precisely.
Key Findings of Global Pressure Sensor Market

Piezoresistive sensors lead the global pressure sensor market in

2016 growing with a CAGR of 6.5% during the forecast period.

Automotive industry generated highest revenue in terms of

pressure sensors, in 2016, and is expected to grow with a CAGR of
6.9% during the forecast period.

Asia pacific generated the highest revenue of $2.6 billion in 2016

and is expected to grow with the highest CAGR of 7.3% during the
entire forecast period.

Optical and resonant solid-state sensors are projected to exhibit

high growth over the forecast period due to their applications in
hazardous environments
Companies Mentioned

ABB Ltd.
Analog Devices, Eaton Corp
Emerson Process Management
Infineon Technologies AG
NXP Semiconductors N.V.
Renesas Electronics
Siemens AG
STMicroelectronics N.V
Yokogawa Electric Corp.

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