The Asia-Pacific pressure sensors market is projected to reach USD 2.90 billion by 2021 growing at a CAGR of 7.03% over the period 2016-2021. Asia-Pacific is the largest fastest growing region for pressure sensors and is projected to continue its dominance due to increasing production of motor vehicles that use pressure sensors in countries such as Japan, South Korea, China, and India.
The Asia-Pacific pressure sensors market is segmented on the basis of technology and end-user industry. The consumer electronics application segment is analyzed to record the fastest growth in this market.
Asia-Pacific Pressure Sensors Market-Market Dynamics
The pressure sensors market is dominated by piezoresistive and capacitive sensors as they are heavily used in automotive, medical, petrochemical, and oil & gas industries. Optical and resonant solid-state sensors are projected to exhibit high growth over the forecast period due to their applications in hazardous environments. Technological advancements and nanotechnology applications are the future opportunities for pressure sensors market.
Some of the factors driving the market include:
This report gives a detailed study of Porter’s five forces analysis, market segments, and current market trends. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players, which includes the key growth strategies and competition analysis. The report also considers key trends that will impact the industry.
Some of the leading suppliers of proximity sensors mentioned in the report are:
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