Global Force Sensor Market: Regional Analysis of the Technology Segment
The capacitive force sensor segment is projected to be the most attractive segment in the APEJ force sensor market during the forecast period. In terms of value, the piezo-electric force sensor segment is predicted to be the most attractive segment in the North America and Western Europe force sensor markets during 2017 – 2027. This segment is also anticipated to register high Y-o-Y growth throughout the forecast period in North America and Western Europe.
Piezo-electric force sensor segment by technology is anticipated to increase 2.4X between 2017 and 2027
In terms of value, the capacitive force sensor technology segment is projected to be the most attractive segment in the global force sensor market during the forecast period. However, the piezo-electric force sensor segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 8.3% during the forecast period. On the other hand, the piezo-resistive force sensor segment is expected to witness steady growth in terms of revenue throughout the forecast period. By 2027 end, revenue generated from the magneto-elastic force sensor segment is estimated to exceed US$ 900 Mn, increasing at a CAGR of 4.9% during the forecast period.
Increasing number of sensors per vehicle and rising adoption of the Internet of Things technology likely to boost the technology segment of the global force sensor market
Increasing adoption of the Internet of Things (IoT) technology is driving the growth of the global force sensor market. Force sensors are utilised to measure a change in physical parameters, which describes the functionality and performance capabilities of various Internet of Things (IoT) applications such as consumer electronics, building automation, healthcare & life science, home automation, transportation, industrial, environment, security & public safety and retail & logistics. Hence, an increasing demand for consumer electronics, home automation, etc. is anticipated to positively impact the growth of the technology segment.
Force sensors are used to measure static and dynamic forces across various industrial automation processes; for example, they are used in an assembly of two parts with a sequence of static and dynamic programmable force fields. Automation in businesses across the global industrial landscape is expected to boost the efficiency of manufacturing in a relatively lesser time. Companies in the manufacturing sector across the globe are focussing on transforming existing facilities from single or partial automated cells to fully automated and integrated facilities to boost productivity, speed and quality. This, in turn, is fuelling market demand for technology in the manufacturing sector.
Focus on deploying touch interfaces across a variety of applications ranging from consumer devices to commercial applications in retail, gaming and signage has been increasing since the past few years. Touch panels require precision in position sensing, rapid response to input and durability, which force sensors offer. Thus, increasing demand for touchscreen applications is expected to support the growth of the global force sensor market. Also, increasing number of industrial applications with a human – machine interface fuels demand for force sensor based touchscreens. These factors are expected to drive the growth of the global force sensor market.
Sensors are essential components of various automotive electronic control systems including tire pressure monitoring systems (TPMS), oil pressure sensing (OPS) and engine management systems (MAP/BAP). Demand for sensors per vehicle is increasing due to changing government regulations pertaining to emissions monitoring. Rising fuel efficiency standards and increasing focus on deploying advanced sensing solutions to enhance the user experience by passenger car manufacturers are other factors likely to accelerate demand in the technology segment across the globe.
This new report from Future Market Insights titled, “Force Sensor Market: Global Industry Analysis and Opportunity Assessment, 2017–2027,” segments the global force sensor market on the basis of technology, vertical, application and region. Our expert team of analysts have covered the various market forecast factors such as historical trends, an overview of force sensor enabled products, growth rate of sensor technology across various regions and growth rate of force sensing technology across various end user verticals in this comprehensive report. We have collected useful data and inputs from government databases. While validating the data our analysts have tracked the country wise costs of photonic sensors and detectors and have also estimated the market value of photonics enabled products across countries.
Global Force Sensor Market: Key Factors Considered for Impact Analysis
Increasing adoption of the Internet of Things (IoT) technology
Growing industrial automation and changing manufacturing landscape
Rising number of sensors per vehicle
Increasing focus on touch screen applications
Long regulatory approval processes
The report starts with a market overview and provides market definition and synopsis. An important section gives extensive information on market dynamics including drivers, restraints, opportunities and challenges in the global force sensor market. The macro-economic factors that influence the global force sensor market are also discussed in the report. Another section of the report provides detailed market share analysis, Y-o-Y growth and market attractiveness analysis for the different market segments. It provides a market outlook for 2017–2027 and sets the forecast within the context of the global force sensor market, including the overall spending made towards the installation of new systems or expansion/upgrading of existing systems in the assessed regions. The sections focussing on market segments represent the market on the basis of the various segments along with the shares from major countries in the respective regions. The report also covers the aftermarket opportunities across the different assessed regions.
In the last section of the report, a competitive landscape has been included to offer report audiences with a dashboard view of key market players. Detailed profiles of manufacturers are also encompassed within the scope of the report to evaluate their key offerings, long- and short-term strategies and recent progress in the global force sensor market.
Market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analysed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of force sensor applications is deduced on the basis of average spending for the installation of the particular type of technology. The spending made towards the installation of the particular type of technology may vary according to the location of installation, applications, and various other parameters.
For forecasting the global force sensor market value, various factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast include the size of the current market and other dynamics shaping the scenario of the global force sensor market. In the compilation of the report, the forecasts are conducted by estimating the CAGR over the period of assessment, while other important criteria such as year-on-year growth and incremental dollar opportunity have also been incorporated presenting readers with pertinent insights and future opportunities likely to emerge in the global force sensor market.