Latest Market Research Pressure Sensor Market Analysis, Growth Drivers, T

Pressure Sensor Market Analysis, Growth Drivers,
Trends, and Forecast Till 2023
“the pressure sensor market is expected to grow from USD 8.30 Billion
in 2017 to USD 11.30 Billion by 2023, at a CAGR of 5.27% between 2017
and 2023.”
The Pressure Sensor Market is expected to grow from USD 8.30 Billion in 2017 to USD 11.30 Billion by
2023, at a CAGR of 5.27% between 2017 and 2023. The growth of this market is fueled by advancements in
MEMS technology and its rapid adoption in connected devices, growing demand from automotive and
medical device industries, increasing adoption of pressure sensors in consumer goods and wearables, and
stringent government regulations. Developments in the pressure sensor market ecosystem through
organic and inorganic growth strategies, such as product developments, merger and acquisition,
partnerships, collaborations, and agreements, further drive the growth of this market.
Among the different product types, the market for differential pressures sensors is expected to grow at
the highest CAGR between 2017 and 2023. Differential pressure sensors provide the difference between
two pressure sources through two ports, allowing users to provide required pressure inputs to the device
for measuring the readings. This flexibility offered by the device helps drive the growth of the differential
pressure sensor market at the highest CAGR during the forecast period.
The pressure sensor market for the optical technology is expected to grow at a high CAGR between 2017
and 2023 driven by the growing adoption of optical technology over other technologies. In places that are
remote or experience very high temperature, optical pressure sensors are used for various applications. In
applications where other technologies can fail due to electromagnetic interference, optical pressure
sensors can work very well due to their immunity to interference. These sensors also work well in the
presence of chemicals or explosive materials.
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