USD 2.90 billion
Global Force Sensor Market Size, Share, Growth Analysis, By Technology(Strain Gauge, Piezoelectric), By Application(Industrial and Healthcare) - Industry Forecast 2024-2031
Report ID:
SQMIG45K2050 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
61 |
Figures:
75
Global Force Sensor Market Insights
Global Force Sensor Market size was valued at USD 2.90 billion in 2022 and is poised to grow from USD 3.07 billion in 2023 to USD 4.82 billion by 2031, growing at a CAGR of 5.80% during the forecast period (2024-2031).
The global force sensor market has witnessed significant growth in recent years and is expected to continue its upward trajectory in the coming years. Force sensors are devices that measure and monitor the force or load applied to an object or surface. They find applications in various industries such as automotive, aerospace, healthcare, manufacturing, and consumer electronics. One of the key factors driving the growth of the global force sensor market is the increasing demand for advanced sensing technologies in various industries. Force sensors offer accurate and reliable measurements, enabling improved product quality, enhanced safety, and better process control. They are used in applications such as robotic systems, material testing, medical devices, and industrial automation. Technological advancements have also played a crucial role in the expansion of the force sensor market. The development of microelectromechanical systems (MEMS) technology has led to the miniaturization of force sensors, making them more compact and cost-effective.
Additionally, the integration of force sensors with wireless connectivity and IoT capabilities has opened up new opportunities for real-time monitoring and data analysis. The market is witnessing a shift towards the use of smart force sensors that can provide real-time feedback and enable predictive maintenance. These sensors offer features such as high accuracy, low power consumption, and digital signal processing, which enhance their performance and usability. North America has traditionally been a prominent market for force sensors, owing to the presence of major manufacturers and technological advancements in the region. However, Asia Pacific is expected to witness substantial growth due to the rising industrialization, increasing adoption of automation technologies, and the expansion of the manufacturing sector.
US Force Sensor Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Strain Gauge
Fastest Growth
Strain Gauge
Growth Rate
5.80% CAGR
Global Force Sensor Market ($ Bn)
Country Share for North America Region (%)
Global Force Sensor Market By Technology ($ Bn)
Global Force Sensor Market By Technology (%)
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Global Force Sensor Market Segmental Analysis
Global Force Sensor Market is segmented by technology, application, and region. Based on technology, the market can be segmented into strain gauge, piezoelectric, and capacitive. Based on application, the market is segmented into industrial and healthcare. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Force Sensor Market Analysis by Technology
By technology, the market can be segmented into strain gauge, piezoelectric, and capacitive. The Strain Gauge force sensors have traditionally dominated the market. Strain Gauge sensors operate on the principle of measuring the change in electrical resistance when subjected to external forces. These sensors are widely used across various industries, including automotive, aerospace, manufacturing, and healthcare. Their dominance can be attributed to factors such as their reliability, high accuracy, and cost-effectiveness. Strain Gauge force sensors have a well-established market presence and are preferred in applications that require precise force measurements, such as load testing and material stress analysis.
The fastest growing segment in the force sensor market is the Piezoelectric technology. Piezoelectric force sensors generate an electric charge when subjected to mechanical stress. These sensors offer advantages such as high sensitivity, excellent dynamic response, and the ability to measure forces in both compression and tension. The demand for Piezoelectric force sensors is rising rapidly due to their increasing adoption in emerging applications such as robotics, healthcare devices, and consumer electronics. The growing need for precise force sensing capabilities in areas like surgical robotics, haptic feedback systems, and touch-sensitive devices is driving the growth of the Piezoelectric force sensor market.
Force Sensor Market Analysis by Application
By application, the market can be segmented into industrial, and healthcare. The industrial sector dominates the force sensor market. Industrial applications require force sensors for a wide range of purposes, including robotics, assembly line automation, quality control, and process monitoring. Force sensors are extensively used in industries such as automotive, manufacturing, aerospace, and logistics. These sensors play a crucial role in ensuring precision, safety, and efficiency in industrial processes. Factors contributing to the dominance of the industrial segment include the large-scale adoption of automation technologies, the need for accurate force measurements in manufacturing processes, and the continuous demand for improved productivity and quality control in industrial settings
The fastest growing segment in the force sensor market is the healthcare sector. Force sensors have gained significant traction in healthcare applications, primarily in areas such as medical devices, surgical robotics, and biomechanics research. In medical devices, force sensors enable the measurement of forces during procedures, allowing for precise control and feedback in applications like minimally invasive surgeries. Surgical robotics, an emerging field, heavily relies on force sensors to enable safe and accurate manipulation of surgical instruments.
Global Force Sensor Market By Technology , 2023 (%)
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Global Force Sensor Market Regional Insights
North America dominated the global force sensor market. It is home to several key players in the industry and has a well-established infrastructure for research and development. The region's dominance can be attributed to factors such as technological advancements, strong industrial base, and high adoption of automation technologies. In North America, the United States holds the largest market share in the force sensor market. The country has a robust manufacturing sector, particularly in automotive and aerospace industries, which extensively use force sensors for quality control and safety purposes.
The Asia Pacific (APAC) region is witnessing rapid growth and is expected to emerge as the fastest-growing market for force sensors. The region's growth can be attributed to factors such as increasing industrialization, rising adoption of automation technologies, and a growing manufacturing sector. Countries like China, Japan, and South Korea are leading the force sensor market in the APAC region. China, in particular, is experiencing significant growth due to its expanding manufacturing base and the government's focus on automation and Industry 4.0 initiatives.
Global Force Sensor Market By Region, 2024-2031
- Largest
- Fastest
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Global Force Sensor Market Dynamics
Force Sensor Market Drivers
Increasing demand for advanced sensing technologies in various industries
- One significant driver fueling the growth of the global force sensor market is the increasing demand for advanced sensing technologies in various industries. Force sensors offer accurate and reliable measurements, enabling improved product quality, enhanced safety, and better process control. They find applications in automotive, aerospace, healthcare, manufacturing, and consumer electronics sectors, driving the need for precise force measurements. As industries strive for greater efficiency and performance, the demand for advanced force sensors continues to rise, contributing to the market's expansion.
Force Sensor Market Restraints
High cost associated with advanced force sensing technologies
- One major restraint facing the global force sensor market is the high cost associated with advanced force sensing technologies. The development and manufacturing of sophisticated force sensors require significant investments in research, development, and specialized production processes. This leads to higher prices for the end-users, limiting the adoption of force sensors, particularly among small and medium-sized enterprises with budget constraints. The cost factor poses a challenge to the market's growth potential, hindering wider adoption across various industries and regions.
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Global Force Sensor Market Competitive Landscape
The global force sensor market is characterized by a diverse mix of companies, ranging from established players to emerging market entrants. These companies focus on developing innovative force sensing technologies, expanding their product portfolios, and enhancing their global market presence. Key strategies observed in the market include mergers and acquisitions, partnerships, and collaborations to leverage complementary capabilities and strengthen market position. Additionally, companies are investing in research and development activities to introduce advanced and cost-effective force sensing solutions, aiming to gain a competitive edge in the market.
Force Sensor Market Top Player’s Company Profiles
- TE Connectivity Ltd. (Switzerland)
- FUTEK Advanced Sensor Technology, Inc. (US)
- ATI Industrial Automation, Inc. (US)
- Kistler Group (Switzerland)
- PCB Piezotronics, Inc. (US)
- Flintec Group AB (Sweden)
- HBM Test and Measurement (Germany)
- Methode Electronics, Inc. (US)
- Novotechnik Messwertaufnehmer OHG (Germany)
- Vishay Precision Group, Inc. (US)
- Transducer Techniques, LLC (US)
- Kyowa Electronic Instruments Co., Ltd. (Japan)
- A&D Company, Limited (Japan)
- Kavlico Corporation (US)
- Baumer Group (Switzerland)
- OMEGA Engineering, Inc. (US)
- Infineon Technologies AG (Germany)
- Micro-Measurements (US)
Force Sensor Market Recent Developments
- In April 2023, Kistler Group, a leading provider of force and pressure measurement solutions, acquired a specialized force sensor manufacturer to strengthen its portfolio and expand its market presence in key industries.
- In March 2023, A major automotive manufacturer partnered with a sensor technology company to develop force sensing airbags that can detect and adjust deployment force based on occupants' weight and position, enhancing occupant safety.
- In February 2023, Vishay Intertechnology Inc., a global manufacturer of electronic components, announced the launch of a new miniature force sensor series called "MicroFoF" for use in consumer electronics, wearables, and medical devices.
- In January 2023, Pressure Profile Systems Inc., a force and pressure measurement technology company, received a substantial investment from a strategic partner to fuel its research and development efforts and expand its product portfolio.
- In September 2022, TDK Corporation, a multinational electronics company, unveiled a new force sensor series called "TMR Magnetic Pattern Recognition Sensor" for applications in robotics, automotive, and consumer electronics.
Global Force Sensor Key Market Trends
- One key market trend in the force sensor industry is the increasing integration of force sensors with wireless connectivity and Internet of Things (IoT) capabilities. This trend allows for real-time monitoring and data analysis, enabling enhanced control and optimization of processes. The integration of force sensors with wireless technology facilitates seamless communication, remote monitoring, and predictive maintenance. This trend not only improves operational efficiency but also enables the collection of valuable data for advanced analytics and decision-making, driving innovation and improving overall performance in various industries.
Global Force Sensor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global force sensor market analysis, the market is experiencing significant growth driven by factors such as the increasing demand for advanced sensing technologies across various industries. Force sensors provide accurate and reliable measurements, enhancing product quality, safety, and process control. Technological advancements, including the miniaturization of force sensors and their integration with wireless connectivity and IoT capabilities, further fuel market growth. North America dominated the market due to its strong industrial base and technological advancements, while the Asia Pacific region, particularly China, Japan, and South Korea, is emerging as the fastest-growing market. However, the high cost of advanced force sensing technologies poses a restraint to market growth. The competitive landscape is characterized by companies focused on innovation, partnerships, and acquisitions to strengthen their market position and introduce cost-effective solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.90 billion |
| Market size value in 2031 | USD 4.82 billion |
| Growth Rate | 5.80% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Force Sensor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Force Sensor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Force Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Force Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Force Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Force Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Force Sensor Market Report Snapshots
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