NEW YORK, May 23, 2016 /PRNewswire/ -- Pressure sensors act as transducers and generate analog or digital signal based on the amount of pressure applied, typically on gases or liquids. Different types of pressure such as differential, gauge pressure, vacuum, differential and sealed are measured by pressure sensors and transmitters. The Pressure sensor market is crucial for the success of industry automation on a global scale. This market has been witnessing tremendous growth due to increasing industries and new technological advancements. Portability, customization, ease of use, and automation are the key factors that Pressure sensors market players use to differentiate their products and services. Apart from pressure sensing, altitude sensing, flow, level or depth sensing and leak testing are some of the applications of pressure transmitters.
The Pressure sensors and transmitters market is slated to grow at 7.1% year on year for the next five years. The market is estimated to reach $7.92bn by 2020.
The demand for Pressure sensors services is growing at a steady pace across the globe. Pressure sensors are used in all industries for detecting and differentiating different types of pressures, with the demand increasing mainly due to global investment patterns. Other such factors include developments in automation market, increasing demand from end users and innovation in the technology which impact pressure sensor market.
In the report, the market has been segmented by geography as North America, Europe, Asia, and Rest of the World (RoW). Market size and forecast is provided for each of these regions. A detailed qualitative analysis of the factors responsible for driving and restraining growth of the Pressure sensor market and future opportunities are provided in the report.
This report on the Global Pressure sensors Market identifies many such insights and M&A opportunities, besides providing a detailed analysis of the different types of sensors.
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