The increasing demand from automotive and medical industries and rising adoption of pressure sensors in consumer electronics are the primary factors driving the market growth. The rising adoption of Internet of Things (IoT) is fueling the market growth. However, the intense pricing pressure is hampering the market growth.

Use of high accuracy pressure engines in automobiles for altitude correction when driving at high altitudes has led to a surge in the market. Moreover, favorable government regulations such as the TREAD Act of the US defining the use of pressure sensors in tire monitoring systems is propelling market growth. Growth in the application opportunity in the medical industry has led the market to accrue larger benefits over the conjecture period. Various devices integrated with pressure sensors include respiration & sleep apnea, as well as equipment used for the measurement of ventilators and monitoring of blood pressure.

Regional Analysis:

By geography, the market is studied for North America, Europe, Asia Pacific, and rest of the world. Among these regions, at present, the market is majorly dominated by Asia Pacific due to a higher concentration of key players in countries like China, Japan, and South Korea. The rising demand from automobile and medical industries in these regions are fueling the market growth.

On the other hand, Europe is expected to show a decent market growth concerning the pressure sensor market. The rise in technological advancements and demand for MEMS sensors are fueling the market growth. However, the North America region is expected to show a significant growth throughout the forecast period. Increase in use of smartphones and rising applications in the field of medicine are also driving the market in this region. The demand for consumer electronics across developed countries like the U.S. is driving the market in this region.

Segmentation:

Several [FURL=https://www.marketresearchfuture.com/reports/pressure-sensors-market-6096/]pressure sensors market[/FURL] segments are studied by the experts at MRFR. Such segmentation of the pressure sensors market is carried out by product type, technology, industry vertical, and region. Based on product type, the global pressure sensors market is segmented into absolute pressure sensors, gauge pressure sensors, differential pressure sensors, and vacuum pressure sensors. Based on technology, the market segmented into capacitive pressure sensors, piezoresistive pressure sensors, optical pressure sensors, and electromagnetic pressure sensors. Based on industry vertical, the global pressure sensors market is studied for the segments of automotive, aviation, marine, medical, oil & gas, medical, and consumer electronics.

There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers.

Also Read: [FURL]https://www.marketwatch.com/press-release/pressure-sensors-market-size-latest-innovations-analysis-business-opportunities-overview-component-industry-revenue-and-forecast-2019-10-24 /[/FURL]