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A recent report published by Infinium Global Research on force sensor market provides in-depth analysis of segments and sub-segments in global as well as regional force sensor market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional force sensor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global force sensor market. According to the report the global force sensor market is projected to grow at a CAGR of 6.1% over the forecast period of 2018-2024.
Market Insight
Force sensors are the sensors that are used to measure the force between the two surfaces. The force sensor converts the applied pressure into the equivalent value of electric current. The force sensors are ultra-thin sensors that can easily be integrated into force measurement applications. The force sensors are widely used in the many applications across various industries including robotics, Medical and Pharmaceutical, Automotive, manufacturing and many others.
The force sensors are used on various manufacturing and transportation equipment to prevent machinery from overloading. The force sensors monitor the load on the machine in accordance with safety standards such as mine lifts, construction cranes, industrial tanks, grain silos, and locomotives. The growing demand for force sensors in the manufacturing, transportation, and construction industries are driving the growth of the force sensors market. The force sensor changes its electric resistance even in the small action of forces so they used in the various medical applications such as Robotic Surgery, tool speed control, infusion pump, podiatry foot gait analysis and many others. In addition, the rising demand for force sensors in the medical and pharmaceutical industries are likely to boost the demand of force sensors market.
Furthermore, low manufacturing cost and reliability and accuracy offered by the force sensor are anticipated to escalate the growth of force sensors market over the forecast period. Moreover, the ongoing development in the sensor technology and growing adoption of force sensors in automotive, electronics devices, medical and others are projected to create various opportunities in the force sensor market in an upcoming year.
Among the geographies, North America holds the maximum share in the force sensors market owing to the growing manufacturing industries and developed healthcare infrastructure. The growing use of force sensors in the automotive sector is likely to contribute in the growth of the force sensor market in the North America region. In addition, the Asia Pacific is the largest and fastest growing region in the force sensor market. The growing awareness of about the potential use of force sensors across various industries including automotive, medical, robotics and many others are anticipated to boost the demand of force sensors in the Asia Pacific region.
Segment Covered
The report on global force sensor market covers segments such as type and applications. On the basis of type, the global force sensor market is categorized into piezoresistive force sensors, capacitive force sensors, piezoelectric force sensors, optical force sensors, magnetic force sensors, strain gauges, and others. On the basis of applications the global force sensor market is categorized into industrial manufacturing, packaging, automotive, consumer electronics, aerospace & defense and others.
Geographic Coverage
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
Companies Profiled:
The report provides profiles of the companies in the global force sensor market such as, ATI Industrial Automation Inc., Siemens AG, Honeywell International, Hottinger Baldwin Messtechnik (HBM) GmbH, Flintec Group AB, Vishay Precision Group, Kavlico Corporation, Tekscan, Inc, Futek Advanced Sensor Technology, Inc. and TE Connectivity Ltd.
Report Highlights:
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global force sensor market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of force sensor market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the force sensor market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the force sensor market to understand the present and future trends in this market and formulate their strategies accordingly.
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