Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Pressure Sensor Market size was over USD 13.41 billion in 2024 and is anticipated to exceed USD 48.48 billion by the end of 2037, witnessing over 10.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of pressure sensor is evaluated at USD 14.53 billion.
The market growth is mainly owing to the increasing adoption of consumer electronics. Smartphones, wearables, and other consumer electronic devices increasingly incorporate pressure sensors for applications such as altitude measurement, air pressure monitoring, and touch interfaces. As of 2021, it was estimated that around 3.8 billion people, or approximately half of the global population, owned a smartphone.
In addition to this, pressure sensors find applications in a wide range of sectors owing to the presence of their different types such as absolute pressure sensors, gauge pressure sensors, and differential pressure sensors. Absolute pressure sensors have been highly opted in research & scientific laboratories under which precise measurements are needed in order to determine altitude.
Global Pressure Sensor Sector: Growth Drivers and Challenges
Growth Drivers
- Emerging Technologies: The rise of technologies such as the Internet of Things (IoT) and the adoption of pressure sensors in smart homes, smart cities, and other connected applications have acted as growth drivers for the pressure sensor market. The number of connected IoT devices has been increasing rapidly. By 2021, it was estimated that there were over 31 billion IoT devices deployed worldwide.
- Growing Healthcare Applications: Pressure sensors play a vital role in healthcare, particularly in monitoring and controlling blood pressure, respiratory systems, and intravenous infusion systems.
- Rising Industrial Automation: The increasing trend of industrial automation and the need for precise pressure monitoring and control in manufacturing processes have been key drivers of the pressure sensor market.
Challenges
- Accuracy and Calibration: Pressure sensors need to provide accurate and reliable measurements for their intended applications. Ensuring precise calibration and accuracy can be challenging, especially in harsh or dynamic environments where factors such as temperature, humidity, and vibration can affect sensor performance.
- High Cost: The cost of pressure sensors can be a barrier to adoption, especially for price-sensitive industries or applications that require large-scale sensor deployment.
- Miniaturization and Integration
Pressure Sensor Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
10.3% |
|
Base Year Market Size (2024) |
USD 13.41 billion |
|
Forecast Year Market Size (2037) |
USD 48.48 billion |
|
Regional Scope |
|
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Customize this ReportPressure Sensor Industry - Regional Synopsis
APAC Market Forecast
The pressure sensor market in the Asia Pacific region is anticipated to hold the largest share by the end of 2037. The regional growth is owing to government initiatives and investments in the region. Governments in the Asia Pacific region have been actively promoting the adoption of advanced technologies, including IoT, automation, and smart manufacturing. Pressure sensor investments have been boosted by initiatives such as "Make in India" in India and "Made in China 2025" in China. These government-led initiatives have been driving the growth of the pressure sensor market in the region.
North American Market Statistics
The pressure sensor market in the North American region, is estimated to have the second largest share during the forecast period. The growth of the market in this region can be ascribed to the growing adoption of electric vehicles in the countries such as the U.S.A, and Canada. As per the reported data, more than 700,000 new electric vehicles were registered in the year 2022 in the United States.
Companies Dominating the Pressure Sensor Landscape
- Bosch Sensortec
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Honeywell International Inc.
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Sensata Technologies, Inc.
- STMicroelectronics N.V.
- Texas Instruments Incorporated
- Omron Corporation
- TE Connectivity Ltd.
- Robert Bosch GmbH
Key Players
In the News
- Honeywell and Hanwha Systems signed a memorandum of understanding (MOU) in South Korea to collaborate on unmanned aerial systems and urban air mobility (UAS/UAM) technology development.
- Infineon announced the acquisition of Cypress Semiconductor Corporation, a leading provider of embedded solutions, including pressure sensors. The acquisition strengthens Infineon's position in the automotive, industrial, and consumer markets, allowing it to offer a comprehensive portfolio of sensors, microcontrollers, and connectivity solutions to its customers.
Author Credits: Abhishek Verma
- Report ID: 4990
- Published Date: Oct 14, 2024
- Report Format: PDF, PPT
