CHICAGO, May 21, 2024 /PRNewswire/ -- The global pressure sensor market is expected to be valued at USD 12.4 billion in 2024 and is projected to reach USD 17.0 billion by 2029; it is expected to grow at a CAGR of 6.5% from 2024 to 2029 according to a new report by MarketsandMarkets™. An increasing demand for IoT-enabled devices and innovative technologies drives the pressure sensor market.

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Browse in-depth TOC on "Pressure Sensor Market"
192 – Tables
69 – Figures
272 – Pages

Pressure Sensor Market Report Scope:

Piezoresistive sensing method segment in the pressure sensor market to dominate during the forecast period.

Piezoresistive pressure sensors are poised to dominate the pressure sensor market due to several key advantages that make them highly desirable across a wide range of applications. The piezoresistive sensing method offers excellent sensitivity and accuracy in measuring pressure changes, making these sensors reliable for precise pressure monitoring. Additionally, piezoresistive sensors are known for their robustness and durability, which make them capable of operating effectively in harsh environments with temperature variations and mechanical stress. Another factor contributing to their dominance is the cost-effectiveness of manufacturing piezoresistive sensors at scale, making them a preferred choice for automotive, aerospace, and industrial automation industries. With the increasing demand for accurate and affordable pressure sensing solutions, piezoresistive sensors are expected to maintain their leading position in the market.

By connectivity, Wired pressure sensor holds the largest share of the pressure sensor market.

Wired connectivity holds the largest share of the pressure sensor market due to its established reliability, simplicity, and cost-effectiveness in various industrial and commercial applications. Wired pressure sensors are directly connected to monitoring systems or data acquisition devices through physical cables, ensuring secure and uninterrupted data transmission. This connectivity method is preferred in critical applications where real-time monitoring and response are essential, such as manufacturing, oil and gas, and automotive sectors. Wired sensors are also easier to install and maintain than wireless alternatives, making them a practical choice for stationary or fixed installations where mobility is not a primary concern. Additionally, wired connectivity offers higher data transfer rates and lower latency than wireless technologies, ensuring accurate and immediate data capture for efficient process control and decision-making. As a result of these advantages, wired connectivity continues to dominate the pressure sensor market, especially in industries where reliability and performance are paramount.

Medical end-use segment to grow with higher CAGR in the pressure sensor market over the forecast period.

The medical sector is expected to exhibit the highest CAGR in the pressure sensor market due to several key drivers, such as growing demand for advanced medical devices and equipment that rely on pressure sensors for accurate and reliable monitoring of vital signs and physiological parameters. This includes ventilators, infusion pumps, blood pressure monitors, and cardiac catheters. Furthermore, the increasing prevalence of chronic diseases and the aging population necessitate continuous monitoring and management of patient conditions, driving the need for innovative pressure-sensing solutions in healthcare settings. With these factors contributing to increased adoption, the medical sector is poised for substantial growth in the pressure sensor market across the forecast period.

Absolute pressure sensors to dominate the pressure sensor market over the forecast period.

Absolute pressure sensors are expected to dominate the market due to their versatility and widespread applicability across various industries. Absolute pressure sensors measure pressure relative to a perfect vacuum, providing crucial data for applications requiring accurate pressure referencing. Industries such as aerospace, automotive, manufacturing, and utilities rely heavily on absolute pressure sensors for altitude measurement, vacuum system monitoring, and environmental pressure control. These sensors offer comprehensive solutions for applications where precise pressure readings are essential, enabling optimal performance and efficiency in complex systems. Furthermore, advancements in sensor technology have improved the accuracy, reliability, and cost-effectiveness of absolute pressure sensors, further driving their adoption in critical industrial and commercial applications. With the increasing demand for reliable pressure measurement solutions, absolute pressure sensors are poised to maintain their dominance in the pressure sensor market.

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Asia Pacific region to exhibit high CAGR in the pressure sensor market during the forecast period.

Asia Pacific is projected to exhibit the highest CAGR in the pressure sensor industry due to several key factors driving market expansion. Asia Pacific is experiencing rapid industrialization and economic growth, particularly in countries like China, India, Japan, and South Korea. This has led to increased demand for pressure sensors across various industries, including automotive, manufacturing, healthcare, and consumer electronics. Furthermore, the rising adoption of advanced technologies such as the Internet of Things (IoT), smart manufacturing, and industrial automation in the Asia Pacific is driving the need for accurate and reliable pressure-sensing solutions to optimize processes and enhance productivity. Thirdly, government initiatives promoting infrastructure development, smart cities, and sustainable practices further fuel the demand for pressure sensors in the utilities, transportation, and construction sectors. With these combined factors fostering technological advancements and market expansion, Asia Pacific is poised to exhibit the highest CAGR in the pressure sensor market in the coming years.

Key Players

The pressure sensor companies includes significant Tier I and II players like Honeywell International Inc. (US), ABB (Switzerland), Emerson Electric Co. (US), Amphenol Corporation (US), TE Connectivity (Switzerland), Sensata Technologies, Inc. (US) TT Electronics (UK), Rockwell Automation (US), STMicroelectronics, Switzerland), Infineon Technologies AG (Germany) and others. These players have a strong market presence of pressure sensors across various countries in North America, Europe, Asia Pacific, and the Rest of the World (RoW).

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