Global Wireless Pressure Sensors Market to 2024: Increasing Adoption of Wireless Systems Due to Industry 4.0 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 23, 2019--
The “Wireless Pressure Sensors Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The wireless pressure sensor market is expected to register a CAGR of 20.80% over the forecast period 2019 - 2024, 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.
Scope of the Report
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.
Key Market Trends
Wireless Pressure Sensors to Witness an Increased Demand from the Automotive Industry
North America to Hold a Dominant Share
The wireless pressure sensors market is highly competitive and consists of several major players. With a myriad of applications, the manufacturers are offered with increased potential owing to which they are adopting strategies such as collaborative initiatives, product innovations to increase their market share and increase their profitability. Therefore, the market concentration is low with players striving to expand their reach.
Industry Attractiveness - Porter’s Five Force Analysis
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INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS OTHER MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
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PUB: 12/23/2019 08:01 AM/DISC: 12/23/2019 08:01 AM