Force Sensor Market size is Expected to Grow $3.30 Billion by 2027 | Registering a CAGR of 5.30%

Force Sensor Market

Force Sensor Market

Increase in demand for automotive products, growing adoption in manufacturing applications, and rising adoption of advanced driver assistance systems (ADAS) drives the force sensor market growth”
— David Correa

WILMINGTON, DELAWARE , UNITED STATES, September 26, 2023 /EINPresswire.com/ -- Allied Market Research published a report on the Force Sensor Market by Operation, Force Type, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027. 

The global force sensor market size was valued at $2.16 billion in 2019, and is projected to reach $3.30 billion by 2027, registering a CAGR of 5.30% from 2020 to 2027.

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A force sensor is an instrument that measures the amount of force between two surfaces. Force sensors or force transducers translate an input mechanical force into electrical signal at output. Basically, it works as a force sensing resistor in an electric circuit. These force measurement instruments have varying working principles based on factors considered during designing process. They are used to measure weight, mass, pressure, and torque. These sensors can be used over a wide range of temperature. These are used in industries, such as electronics, robotics, chemical, agricultural sector, paper & print, for various purposes.

Growing adoption and application of force sensors in the manufacturing, construction, and industrial sectors boost the force sensor market growth. In addition, increasing demand for force sensors in the robotics and medical sectors propels the market growth. Moreover, low manufacturing cost, accuracy, and high reliability also drive the market during the forecast period.

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Competitive Analysis: 
The competitive environment of the force sensor industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, force sensor market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Some of the major key players of the force sensor industry include:
⦁ TE Connectivity Ltd.
⦁ Honeywell International Inc.
⦁ ATI Industrial Automation Inc.
⦁ Tekscan Inc.
⦁ Sensata Technologies Inc.
⦁ Siemens AG
⦁ Vishay Precision Group
⦁ ABB Ltd.
⦁ Futek Advanced Sensor Technology Inc.
⦁ Hottinger Baldwin Messtechnik (HBM) GmbH

Innovation and ongoing development in sensor technology are expected to fuel the market growth during the forecast period. Moreover, economically developed nations tend to witness high penetration of force sensor technology in various vehicle segments. Factors, such as economic growth, increase in demand for passenger vehicles, and rise in concerns about vehicle & driver safety, contribute to the force sensor market growth in the coming years.

Region-wise, the force sensor market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific contributed maximum revenue in 2019. However, between 2019 and 2027, the force sensor market in Asia-Pacific is expected to grow at a faster rate compared to other regions. This is attributed to increase in investment from the emerging economical countries such as China, Japan, and South Korea.

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Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global force sensor market along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall force sensor market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
⦁ The current force sensor market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
⦁ Porter’s five forces analysis illustrates the potency of the buyers and the force sensor market share of key vendors.
⦁ The report includes the market trends and the market share of key vendors.

About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.   

David Correa
Allied Market Research
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