Pressure Sensors Market to Cross the Us$ 10 Bn Mark by 2023: Credence Research

According to a new market research report published by Credence Research“Pressure Sensors Market (Technology – Piezoresistive, Electromagnetic, Resonant Solid State, Capacitive, Optical and Others) - Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 - 2023”,the global pressure sensorsmarket was valued at US$ 6.88 Bn in 2015 and is projected to expand with a CAGR of 5.4% through the forecast period 2016 to 2023.

The complete report is available at http://www.credenceresearch.com/report/pressure-sensors-market

Market Insights

Pressure sensor refers to a device that senses/measures pressure, typically of fluids and gases, and converts it into an equivalent analog electrical signal.Some of the most popular pressure sensing technologies are piezoresistive, electromagnetic, resonant solid state, capacitive and opticalamong others.Pressure sensors are typically used for applications such as pressure sensing, altitude measurement, depth measurement and flow sensing. Over the period of time, pressure sensors have found immense applications across different sectors such as automotive, industrial manufacturing and processing, healthcare, oil and gas and others. Another major promising application of pressure sensors is increasing use in the consumer electronics segment.

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Automotive and industrial manufacturing and processing are the most popular and largest consumers of pressure sensors. Thus, the most significant factor fueling the pressure sensors market growth is the steadily rising automotive and industrial manufacturing/processing industry worldwide. Another major factor propelling the market growth, in terms of volume and revenue, is the mandatory installation pressure sensors in automotive vehicles. In various countries such as the U.S., South Korea, Japan, China, Israel and many other European countries have mandated the use of tire...