As per the report “Pressure Sensor Market by Type (Piezo-resistive, Electromagnetic, Capacitive, Resonant, solid state, Optical), Industry trends, Estimation & Forecast, 2016 - 2024", the global pressure sensor market was valued at $7.2 billion in 2016, and is projected to reach $12.07 billion by 2024, growing at a CAGR of 6.7% from 2017 to 2024. In 2016, the Piezoresistive sensor market generated the highest revenue share in the global pressure sensor market. Among major regions, North American pressure sensor market was the highest revenue generating market valued at $2 billion in 2016.
“A drastic increment in the usage of pressure sensors in automotive industry, improvisations in MEMS & NEMS technologies and demand of pressure sensors in consumer electronics has boosted the growth of pressure sensor market all over the globe. The use of pressure sensors in the medical field can act as a growth opportunity for the market.”