Global Force Sensor market was valued at US$ 8.95 Bn in 2023. Global Force Sensor market is expected to Increase adoption of force sensor in the automotive industry is driving the market growth during the forecast period. Sensors are essential components of various automotive electronic control systems including tire pressure monitoring systems (TPMS), oil pressure sensing (OPS), and engine management system (MAP/BAP). Demand for sensors per vehicle is increasing due to changing government regulations on emissions monitoring & braking systems, and rising fuel efficiency standards.
Global Force Sensor Market: Drivers
Increasing Demand in Automotive Industry
The automotive industry holds significant sway over force sensors due to its strong dependence on them. The growing demand for advanced driver assistance systems (ADAS), electric vehicles, and autonomous vehicles mandates the integration of force sensors in different domains like brake systems, steering systems, and occupant detection.
Global Force Sensor Market: Opportunities
Increasing Demand for Wearable Devices
The rising popularity of wearable devices, such as fitness trackers, smart watches, and healthcare monitoring devices, provides a significant opportunity for force sensors. These sensors can be integrated into wearable to enable functions such as activity tracking, gesture recognition, and biometric measurements
Global Force Sensor Market: Restraints
Challenges for Calibration and maintenance
Regular calibration and maintenance are necessary for force sensors to guarantee precise and dependable measurements. This can result in increased expenses and efforts for users, particularly in industries that extensively utilize a substantial number of force sensors.
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Key Takeaways:
Global Force Sensor market was valued at US$ 8.95 Bn in 2023 and is estimated to reach a value of US$ 13.2 Bn by 2030 at a CAGR of 5.7% between 2023 and 2030.
Monitoring & Control segment held dominant position in the global Force Sensor market in 2022, accounting for 60.0 % share in terms of value, owing to increasing approvals and launch of new products.
Global Force Sensor Market: Trends
Advancements in Sensor Technology
There are continuous advancements in force sensor technology, including the development of more accurate and sensitive sensors. New sensor designs and materials, such as piezoelectric and capacitive force sensors, offer improved performance, higher accuracy, and greater durability. These advancements open up new possibilities for force sensing in various industries
Global Force Sensor Market: Competitive Landscape
Key market player includes Honeywell International Inc. Texas Instruments Incorporated, ATI Industrial Automation, Inc., TE Connectivity, Tekscan, Inc., Race logic Ltd, Magnetic Sense GmbH, Sensor Data Technologies, Inc., Sensors and Synergy S.A. (SENSY S.A.) ,Sensate Technologies ,HBM, Strainsert, Inc.,FUTEK Advanced Sensor Technology, Inc., Gefran, PCB Piezotronics, OMRON Corporation, WIKA Alexander Wiegand SE & Co. KG, Hangzhou Nationalchip Science & Technology Co, Ltd., Flintec Inc., Kistler Group, Pressure Profile System Inc, TDK Corporation, Forsentek Co. Limited, Sensata Technologies, and Others
Global Force Sensor Market: Recent Developments
For instance, In March 2023, Texas Instruments (TI) (Nasdaq: TXN) debuted the industry’s first stand-alone active electromagnetic interference (EMI) filter integrated circuits (ICs), enabling engineers to implement smaller, lighter EMI filters, to enhance system functionality at reduced system cost while simultaneously meeting EMI regulatory standards.
In May, 2023, Sensate Technologies Launches New Compact Battery Management System with Advanced Software Features for Industrial Applications and Low Voltage Electric Vehicles.
