Dublin, Oct. 07, 2020 (GLOBE NEWSWIRE) -- The "Force Sensors Market - Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for Force Sensors is forecast to reach $2,426.62 million by 2025, growing at a CAGR of 4.01% from 2020 to 2025. Force Sensors are one type of micromechanical sensors.
It is a device that senses any changes in geometry or limits and shows the magnitude of some kind of mechanical force in the form of an electric signal. It is also called a transducer known for the transformation of mechanical energy into electrical energy. Sensing technology will continue to be the foundation for data collection as the need for industrial robotic automation advances that will help transform manufacturing floors into connected, cost-effective, and reliable facilities thereby boosting the market growth rate.
Key Takeaways
- APAC region in the force sensors market is expected to consist highest share during the forecast period from 2020-2025. The robotics and automation in the countries such as China, India, and South East Asia is fueling the growth of force sensor.
- Industrial segment in the force sensors market is expected to expand at a CAGR of 6.35% in terms of revenue during the forecast period from 2020-2025.
- Increasing adoption of industrial automation is analysed to be a key driving factor for the Force Sensors market.
Drivers -Force Sensors Market
- Increasing industrial automation
In recent time automation and robotics are one of the primary factor that is reviving and transforming the industrial sector. Industry 4.0 is enhancing and driving the adoption of automation and robotics solutions at large extent across various industrial verticals. Force and torque sensing enables robotic processes such as grinding, deburring, sanding and polishing. A force torque sensor in machine tending can help a robot locate jig stops when putting a part in a vice on a CNC machine. Force sensing also helps in applications for product inspection, packaging, and robotic assembly. With the drive toward Industry 4.0 trends, the use on the factory floor of robotic, automation and control systems has become commonplace for increasing performance, productivity and profitability.
- Improvement of medical devices with force sensor technology will drive the market
Medical industry is increasingly adopting smart technologies and advanced electronic equipment. Force sensors are another important means which make the medical devices smarter and efficient. The force sensors are applied in the medical devices such as surgical grippers to know the force exerted on the patient. This helps surgeons to perform critical surgeries. Global health care spending is expected to rise. The growth in healthcare expenditure will drive up the demand for medical devices which will augment the force sensor market.
Challenges - Force Sensors Market
- Difficulty in miniaturization of sensors can restrict the growth
For many end-user industries, especially the medical industry, force sensors are expected to be smaller and thinner. When the electronic devices / equipment are ever more portable, the sensors need to be smaller. However, the process of miniaturizing the sensors presents significant challenges that can potentially limit its adoption in many user industries. There are a lot of elements that need to be made small to bring down the sensor size. There are technological and budgetary problems here that generate significant costs in order to allow multiple functions in a small sensor. The development of compact sensors thus needs significant R&D efforts from stakeholders to aNAress the changing market needs.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Force Sensors market. Force Sensors market is expected to be dominated by major companies such as Spectris PLC, Honeywell International Inc., TE Connectivity, Sensata Technologies, Infineon Technologies AG, Gefran group, Futek Advanced Sensor Technology Inc., Texas Instruments, Omron Corp., among others.
Acquisitions/Technology Launches
- In May 2020, Honey Well announced New Micro Force FMA Series has been designed to increase equipment efficiency for medical and industrial applications.
- In March 2020, TE Connectivity Ltd., a global industrial technology company with leading positions in connectivity and sensing solutions, completed its public takeover of First Sensor AG.
Key Topics Covered:
1. Force Sensors- Market Overview
2. Executive Summary
3. Force Sensors - Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1. Product Benchmarking
3.2.2. End User Profiling
3.2.3. Top 5 Financials Analysis
4. Force Sensors- Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Force Sensors market
4.4.1. Power of Suppliers
4.4.2. Power of Customers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitution
4.4.5. Degree of Competition
5. Force Sensors market- Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Force Sensors Market -By Transducer Type
6.1. Introduction
6.2. Capacitive Force Sensors
6.3. Strain Gauges
6.4. Piezoresistive Force Sensors
6.5. Optical Force Sensors
6.6. Magnetic Force Sensors
6.6.1. Hall Effect and Magnetoresistance
6.7. Magnetoelastic
6.8. Ultrasonic Force Sensor
6.9. Electrochemical Force Sensor
6.10. Load Cell Sensors
6.10.1. Beam Style
6.10.2. S Beam
6.10.3. Canister
6.10.4. Pancake/Low Profile
6.10.5. Button and Washer
6.11. Other Force Sensors
7. Force Sensors Market- By Measuring System
7.1. Hydraulic
7.2. Pneumatic
7.3. Elastic Devices
7.4. Vibrating Elements
7.5. Others
8. Force Sensors Market- By Application
8.1. Introduction
8.2. Aerospace & Defense
8.3. Chemicals
8.4. Oil & Gas
8.5. Medical & Pharmaceutical Sector
8.6. Agriculture
8.7. Printing and Packaging
8.8. Industrial
8.8.1. Robotics
8.8.2. Manufacturing
8.9. Automotive
8.10. Consumer Electronics
8.11. Others
9. Global Force Sensors Market - By Geography
10. Market Entropy
10.1. New Product Launches
10.2. M&As, Collaborations, JVs, Partnership
11. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
11.1. Spectris plc (U.K)
11.2. Honeywell International Inc. (U.S)
11.3. TE Connectivity Ltd. (Switzerland)
11.4. Sensata Technologies Inc. (U.S)
11.5. Infineon Technologies AG (Germany)
11.6. GEFRAN GROUP
11.7. FUTEK Advanced Sensor Technology Inc.
11.8. Custom Sensors & Technologies, Inc.
11.9. Texas Instruments
11.10. Omron Corporation
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