Pressure sensors are used in many industries, and the use of microelectromechanical systems
(MEMS) technology in pressure sensors is expected to further widen the application scope. This
can be attributed to the benefits offered by MEMS, including reduced cost and power
consumption, as well as high performance and miniaturization. Pressure sensors have to be
used in Tire Pressure Monitoring Systems (TPMS) which was made mandatory by the U.S.
government, which has contributed significantly to product demand. Additionally, growing
number of vehicles on a global level is also expected to be a key driving force for the market.
Automotive was the largest market segment in 2012, wherein applications include brake
sensors for electronic stability control systems, side airbags, tire pressure, exhaust gas
recirculation pressure, barometric pressure, gasoline direct-injection systems, etc. Consumer
electronics is also expected to be a fast growing application, with pressure sensors being
incorporated in smartphones for indoor navigation, measuring altitude as well as for global
positioning systems (GPS).
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In the medical sector, growth is expected to be driven by blood pressure monitoring devices and
other health monitoring gadgets, mainly due to reducing form factors. Estimated reduction in
prices is expected to accelerate market growth over the next few years. In terms of product
segments, piezoresistive and capacitive sensors have dominated the market; optical sensing
technology is expected to pick up speed in the years to come. The significant number of
pressure sensors used in aircrafts is expected to drive the military and aerospace segment.
Asia Pacific is expected to remain the highest revenue generator through the forecast period.
This is mainly on account of growth in application sectors and increasing demand...