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Pressure Sensor Market to Reach $24.84 Billion, Globally, by 2027 at 10.3% CAGR: Allied Market Research- Increase in usage in the automotive sector, adoption from the consumer electronics sector, and supportive government policies drive the growth of the global pressure sensor market. PORTLAND, Ore., Sept. 28, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Pressure Sensor Market by Type (Absolute Pressure Sensor, Gauge Pressure Sensor, and Differential Pressure Sensor), Technology (Piezoresistive, Electromagnetic, Capacitive, Resonant Solid State, Optical, and Others), and Application (Automotive, Oil & Gas, Consumer Electronics, Medical, Industrial and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global pressure sensor industry generated $11.38 billion in 2019, and is expected to reach $24.84 billion by 2027, growing at a CAGR of 10.3% from 2020 to 2027.  Drivers, restraints, and opportunities Increase in usage in the automotive sector, adoption from the consumer electronics sector, and supportive government policies drive the growth of the global pressure sensor market. However, high initial cost hinders the market growth. On the other hand, demand for sensors for development of smart cities and the trend of the internet of things (IoT) present new opportunities in the coming years. Get Detail Analysis – Download Sample Research Report: https://www.alliedmarketresearch.com/request-sample/1700 Covid-19 Scenario
The absolute pressure sensors segment to continue to lead in terms of revenue by 2027 Based on type, the absolute pressure sensors segment held the largest market share in 2019, accounting for more than two-fifths of the global pressure sensor market, and is estimated to continue to lead in terms of revenue during the forecast period. This is due to surge in demand for industrial and household applications. However, the gauge pressure sensor segment is expected to witness the highest CAGR of 12.1% from 2020 to 2027, owing to its ability to maintain atmospheric pressure in different circumstances. Enquire For More: https://www.alliedmarketresearch.com/purchase-enquiry/1700 The piezoresistive segment to maintain its leadership status during the forecast period Based on echnology, the piezoresistive segment contributed to around one-fourth of the global pressure sensor market in 2019, and is projected to maintain its leadership status during the forecast period. This is due to its simplicity in use and robustness in biomedical, automotive, and household applications. However, the optical segment is expected to manifest the highest CAGR of 14.6% from 2020 to 2027, owing to its increased usage in the oil & gas industry and biomedical applications as it offers features such as small size, flexibility, absence of hazardous voltages, and others. Asia-Pacific, followed by North America, to maintain its highest contribution by 2027 Based on region, Asia-Pacific, followed by North America, accounted for the highest market share, holding nearly half of the global pressure sensor market share in 2019, and is projected to maintain its highest contribution by 2027. Moreover, this region is expected to grow at the highest CAGR of 11.4% from 2020 to 2027. This is attributed to surge in internet penetration and rise in usage of smartphones and other smart devices, which in turn, led to usage of pressure sensors in commercial, residential, and industrial sectors. The report also analyzes regions including Europe and LAMEA. Get Fully Customized Report: https://www.alliedmarketresearch.com/request-for-customization/1700 Leading market players
Access AVENUE - A Subscription-Based Library (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/library-access Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements. Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter Similar Reports: Gas Sensor Market Expected to Reach $1,336.2 Million by 2027 Humidity Sensor Market Expected to Reach $11.85 Billion by 2027 Global Smart Sensor Market to Reach 143,657.6 Million by 2027 MEMS Sensor Market Expected to Reach $60.6 Million by 2026 Automotive Sensor Market Expected to Reach $37.65 Billion by 2027 Torque Sensor Market Expected to Reach $16.82 Billion By 2026 Pre-Book Now with 10% Discount: Europe Motion Sensor Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Temperature Sensor Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 
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