Market Highlights
In this rapidly changing world of technology, force sensor market is projected to show major growth prospects during the forecast period. Major factor driving the force sensor market is the rising fuel efficiency standards and increasing demand of sensors per vehicle. Growing demand from automotive sector is one major factor driving the growth of force sensor market.
The global force sensor market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the force sensor market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of force sensor market.
This is owing to the presence of large number of established key players like TE Connectivity, General Electric and Honeywell International in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. Increasing demand for force sensors in medical segment is expected to be one major factor for the growth of force sensor market.
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Regional Analysis
In the global force sensor market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, force sensor market is projected to contribute faster to the growth of revenue backed by increasing demand for force sensors from automotive segment and growing popularity of touch interface devices in countries such as Japan, China, South Korea and India. This is owing to the presence of key players like Infineon Technologies AG (Germany) in the region.
The Force sensor market is growing rapidly over 6% of CAGR and is expected to reach at approx. USD 2.95 Billion by the end of forecast period.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Force Sensor Market Research Report-Forecast to 2027”.
Force Sensor Market Segmentation
The force sensor market has been segmented on the basis of type, application and vertical. The vertical segment is bifurcated into aerospace & defense, manufacturing, medical & pharmaceuticals, agriculture, printing & packaging, industrial, automotive and others. Out of which automotive segment holds the largest market share of force sensor market during the forecast period. This is owing to the increasing demand for sensors per vehicle. Rising fuel efficiency standards is another factor responsible for fueling the growth of force sensor market.
Key Players
The prominent players in the Force sensor market are – TE Connectivity Ltd. (Switzerland), Freescale Semiconductor Inc. (U.S.), ATI Industrial Automation Inc. (U.S.), General Electric (U.S.), Innovative Sensor Technology IST AG (Germany), Tekscan Inc. (U.S.), Sensata Technologies Inc. (U.S.), Spectris PLC (U.K.), Honeywell International Inc. (U.S), Infineon Technologies AG (Germany) and others.
Market Research Analysis:
It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in Force Sensor market in North America is attributed to technical advancements and increasing demand for force sensors in automotive, manufacturing and healthcare sectors among others in that region.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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The global Force Sensor Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the force sensor market include TE Connectivity Ltd., Honeywell International Inc., ATI Industrial Automation Inc., Tekscan Inc., Sensata Technologies Inc., Siemens AG, Vishay Precision Group, ABB Ltd., Futek Advanced Sensor Technology Inc., and Hottinger Baldwin Messtechnik (HBM) GmbH.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Force Sensor Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/force-sensor-market/download-sampleMarket DynamicsBooming industries, the rising significance of force sensors in sectors, and the crucial need to measure force or weight with commercial and industrial settings drive the demand for force sensors.
There has been a growing demand for smaller and thinner force sensors with high accuracy and high natural frequency as demand for smart, connected, portable, and low-power products increases.
Key players are launching new advanced and robust force-sensing solutions for the end-use industries to offset the wide range of working conditions.
The report "Force Sensor Market by Application, Technology (Piezoelectric Force Sensor, Strain Gauge, Load Cell, Capacitive Force Sensor, and Magnetoelastic Force Sensor), Operation, Force Type, and Geography – Global Forecast to 2024", is expected to grow from USD 1.8 billion in 2019 to USD 2.3 billion by 2024, at a CAGR of 5.5%.
The industrial sector includes manufacturing and process industries such as semiconductor, automotive, and aerospace & defense.
The large-scale implementation of sensors across various industries for the purpose of generating data and monitoring facilities are expected to offer lucrative growth opportunities in this application.Piezoelectric force sensor to dominate force sensor market, by technology, in 2019The market for piezoelectric force sensors is expected to hold the largest share in 2019.
Hence, it is mostly used in applications involving flex motions, touch, vibrations, and shock measurement.
Piezoelectric sensors are used in various industries, such as healthcare, aerospace, and consumer electronics, as well as nuclear instrumentation.APAC to hold largest share of force sensor market in 2019In terms of value, APAC is expected to dominate the force sensor market in 2019.
(Belgium), Baumer Group (Switzerland), Tekscan (US), Lorrenz Messtechnik (Germany), Futek Advanced Sensor Technology (US), Taiwan Alpha Electronic (Taiwan), Texas Instruments (US), ABB (Swizterland), Uneo (Taiwan), and Priamus System Technologies (Switzerland) are a few major companies dominating the force sensor market.View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/force-sensor-market-16792450.html About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Market SynopsisThe data experts at Market Research Future Reports have carried out a thorough research on the Force Sensor Market is projected to value approximately USD 2.95 billion, growing at a CAGR of 6% during the assessment period from 2020 to 2027.
The growing adoption of force sensors in the automotive sector is anticipated to be an important element driving the worldwide force sensor market 2020.
In addition, along with being ultra-thing, they are also highly durable, which increases their demand, and augments the market size.However, the market dynamics are estimated to be affected significantly due to the outbreak of COVID-19.
The daily operations in various regions were put to a halt which immensely affected the manufacturing cycle of the product.
We will provide COVID-19 impact analysis report.
On the basis of technology, the worldwide force sensor market can be classified into Optical Force Sensor, Load Cell Sensor, Fiber Optic, Semiconductor Strain Gauges, Opto Mechanical, Metal Strain Gauges, Hall Effect & Magneto Resistance, Tracking of Optical Markers, and Photo Elasticity.On the basis of application, the worldwide force sensor market can be classified into Traffic Engineering, Measuring Equipment, Process Monitoring, Control Monitoring, Biomedical, and others.On the basis of vertical, the worldwide force sensor market can be classified into Aerospace & Defence, Automotive, Manufacturing, Industrial, Medical & Pharmaceuticals, Printing & Packaging, and Agriculture.On the basis of region, the worldwide force sensor market can be classified into North America, Europe, Asia Pacific and Rest of the World.Regional Analysis A thorough evaluation of North America, Europe, Asia Pacific and Rest of the World (RoW) has been performed.
