Market Size of Wireless Pressure Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 20.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Wireless Pressure Sensors Market Analysis
The Wireless Pressure Sensors market was valued at USD 691.9 million in 2020 and is expected to reach USD 2803.5 million by 2026, and grow at a CAGR of 20.8% over the forecast period (2021 - 2026), majorly driven 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. The wireless sensors market is a rapidly growing field as many sensor manufacturers are focusing on technological research and improvements in wireless sensing technology.
- The increasing adoption of wireless pressure sensors in consumer goods and wearable devices, such as watches, tablets, and smartphones, is substantially contributing to market expansion. The use of MEMS wireless pressure sensors in industrial control applications and processes, HVAC applications, and level measurement is instrumental in driving market growth. Government regulations or laws to ensure passenger safety in automobiles are also expected to be a major growth driver.
- Key challenges for wireless pressure sensors include a highly fragmented market, scarcity of open bandwidth, low reliability, hopping challenge, and the constantly evolving standards.
- However, the demand for high-performance, cost-efficient, and reliable sensors has increased, leading to higher spending in R&D activities by market vendors. These technological advancements in nanotechnology and micro-technology are expected to propel the market growth wireless pressure sensors over the forecast period.
Wireless Pressure Sensors Industry Segmentation
A wireless pressure sensor is a device that measures the changes in the physical quantity or environmental characteristics of any material and converts them into signals, which, in turn, serve as inputs for controlling the device. These sensors are self-contained, battery-powered monitoring solutions that are useful for many industrial applications including wellhead pressure and casing pressure monitoring. It typically measures the pressure of a variety of gases and liquids and usually acts as a transducer that generates an electric signal due to applied pressure.
| By Technology | |
| Piezoresistive | |
| CMOS | |
| Capacitive | |
| Optical Sensing | |
| Piezoelectric | |
| Other Technologies |
| By End-user Industry | |
| Oil & Gas | |
| Automotive | |
| Healthcare | |
| Consumer Electronics | |
| IT and Telecom | |
| Power & Energy | |
| Entertainment & Media | |
| Other End-user Industries |
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Wireless Pressure Sensors Market Size Summary
The wireless pressure sensors market is experiencing significant growth, driven by advancements in MEMS technology and its integration into connected devices. This growth is further fueled by increasing demand from the automotive and medical device industries, as well as the rising adoption of pressure sensors in consumer goods and wearables. The market is characterized by rapid technological advancements, particularly in nanotechnology and micro-technology, which are enhancing the performance and reliability of these sensors. Despite challenges such as market fragmentation and evolving standards, the demand for high-performance and cost-efficient sensors is prompting substantial investments in research and development by market players.
The automotive sector is a key end-user of wireless pressure sensors, with applications in vehicle dynamics control, tire pressure monitoring, and safety systems. The shift towards electric and self-driving cars is expected to further boost demand in this segment. North America, particularly the United States, is anticipated to maintain a strong presence in the global market, supported by technological advancements and demand in the defense and healthcare sectors. The competitive landscape is marked by numerous major players engaging in collaborative initiatives and product innovations to enhance their market share. Notable developments, such as Honeywell's hybrid-electric turbogenerator and Murata's MEMS resonator, highlight the ongoing efforts to reduce size and power consumption in various applications.
Wireless Pressure Sensors Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.3.1 Growth in Automotive and Health Care Industries
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1.3.2 Increasing Adoption of Wireless Systems Due to Industry 4.0
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1.4 Market Restraints
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1.4.1 High Cost Associated with Sensing Products
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1.4.2 Low Product Differentiation
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1.5 Technology Snapshot
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1.6 Industry Attractiveness - Porter's Five Force Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers/Consumers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Technology
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2.1.1 Piezoresistive
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2.1.2 CMOS
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2.1.3 Capacitive
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2.1.4 Optical Sensing
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2.1.5 Piezoelectric
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2.1.6 Other Technologies
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2.2 By End-user Industry
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2.2.1 Oil & Gas
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2.2.2 Automotive
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2.2.3 Healthcare
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2.2.4 Consumer Electronics
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2.2.5 IT and Telecom
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2.2.6 Power & Energy
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2.2.7 Entertainment & Media
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2.2.8 Other End-user Industries
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Rest of Asia-Pacific
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2.3.4 Rest of the World
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2.3.4.1 Latin America
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2.3.4.2 Middle East & Africa
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Wireless Pressure Sensors Market Size FAQs
What is the current Wireless Pressure Sensors Market size?
The Wireless Pressure Sensors Market is projected to register a CAGR of 20.80% during the forecast period (2024-2029)
Who are the key players in Wireless Pressure Sensors Market?
ABB Group, Emerson Electric Company, Electro Scientific Industries, Inc., Honeywell International, Inc. and Infineon Technologies AG are the major companies operating in the Wireless Pressure Sensors Market.
