Status : Published Published On : Jun, 2021 Report Code : VRSME9036 Industry : Semiconductor & Electronics Available Format : Page : 187

Global Force Sensor Market – Analysis and Forecast (2021-2027)

Industry Insights by Technology Type (Piezoelectric, Piezoresistive, Strain Gauge, Capacitive, and Others), by End User (Packaging, Healthcare, Aerospace and Defense, Industrial Manufacturing, Consumer Electronics, Automotive, and Others)

Industry Overview

The global force sensor market is anticipated to grow at 2 billion in 2019 to USD 3.11 billion by 2027, expanding at a CAGR of 5.25% from 2021 to 2027. The force sensor is used to measure the amount of force applied to the object. The force sensor market offers various advantages such as sensor accuracy, reliability, response time, efficiency, communication capability, and robustness hence encourage the demand for sensors across various applications. Force sensors have extensive applicability in devices used for medical purposes, automobiles, and electronics.

Force Sensor Market Highlights

Increasing industrial automation and the changing manufacturing landscape are some of the key factors driving the market growth. The rise in the adoption of force sensors in the automotive industry is anticipated to boost market growth during the forecast period. Moreover, the increasing demand for advanced medical equipment in the healthcare sector is creating a demand for force sensors such as infusion pumps, insulin pumps, etc. The demand for force sensors goes in direct proportion to the global demand for medical devices. Nevertheless, the prevalence of chronic diseases among a large number of people, increase in demand for industrial robots, rise in adoption of IoT, are driving the growth of the force sensor market globally.

The COVID-19 outbreak has impacted the production process of various industries in the market. The government has declared complete lockdown and there is a temporary shutdown of industries which has hampered the global market. It also has affected the supply chain due to the unavailability of raw materials for the manufacturing of components. The Asian and European countries have suffered the loss of business and revenue due to the halting of operations in production and manufacturing industries, resulting in a slowdown of the growth of the force sensor market in 2020. The automotive sector has halted its production facility owing to COVID-19, resulting in decreasing demand in industries. This has resulted in large-scale manufacturing interruption in Europe and interruption in Chinese part exports, thus hampering the growth of the force sensor market.

Market Segmentation

Insight by Technology

Based upon technology, the force sensor market is categorized into optic force sensor, piezoelectric force sensor, piezo-resistive force sensor, strain gauge, capacitive force sensor, magnetic force sensor, electrochemical force sensor, ultrasonic force sensor, and load cell sensor. and others. Of all these segments, strain gauge has the largest share in the global force sensor market as it provides enhanced stability to its users for a longer time duration along with ensuring a high level of linearity. Also, the piezoelectric force sensor is anticipated to grow at a faster pace in the global force sensor market due to its use in touchpads of mobile phones and to monitor combustion in internal combustion engines. Capacitive force sensors are important in applications of a computer mouse, mobile phones, and digital audio players due to excellent sensitivity, repeatability, and temperature stability.

Insight by Force Type

Based on force type, the force sensor market is segmented into compression force sensor, tension force sensor, and compression & tension force sensor. The compression & tension force sensor is anticipated to witness the largest share during the forecast period. These sensors use transducers to measure tension and compression force. They are used in miniature designs for application with limited space or to measure small forces. The tension and compression force sensor segment is propelled by the rising adoption of sensors in medical and material testing fields.

Insight by End User

Based on end-user, the force sensor market is segmented into packaging, healthcare, aerospace and defense, industrial manufacturing, consumer electronics, automotive, and others. Of all these segments, consumer electronics is expected to have the fastest growth during the forecast period, owing to the rise in the adoption of force sensors in consumer electronic devices such as smartwatches, smartphone products, and laptops. Furthermore, extensive applicability in home appliances such as laundry, kitchen, and heating controllers will boost the growth of the force sensor market globally. The automotive segment holds a significant share as force sensors are an essential component in automotive electric control systems including oil pressure sensing, tire pressure monitoring, and engine management system. There are strict government regulations for emission monitoring that have further enhanced the usage of force sensors in the automotive industry.

Industry Dynamics

Growth Drivers

The rising adoption and application of force sensors in construction, industrial, and manufacturing are the factors that are driving the growth of the force sensor market. Moreover, the increasing demand for force sensors in healthcare, rise in usage of IoT technology, increasing adoption of advanced driver assistance systems (ADAS), and robotics sensors are also one of the factors that flourish the market growth. Thus, low manufacturing cost, high reliability, and accuracy will propel the growth of the force sensor market globally. 

Challenges

The underdeveloped after-market distribution channel and volatility in the demand across multiple end-use sectors of the force sensors act as a restraining factor for the growth of the force sensor market players, globally. The after-market distribution channel for the force sensors needs to be channelized through proper marketing strategies that can help key players in improving their corporate image.

Industry Ecosystem

Globally market players are taking advantage of market growth by developing innovative solutions and providing users with advanced solutions and improve performance that can help them performing efficient business operations. Furthermore, industry players are undertaking research and development activities in order to improve its offering and expand its consumer base.

Geographic Overview

Geographically, Europe dominates the global force sensor market, owing to the presence of large automobile companies in the region. Moreover, the increase in industrialization and urbanization and widespread adoption of a force sensor in the utility sector are the key factors that drive the growth of the force sensor market in this region.

Moreover, the force sensor market in Asia-Pacific is anticipated to witness substantial growth during the forecast period because of the expansion in the healthcare sector rising urbanization, and the changing infrastructure in this region. Countries such as China, Japan, and Australia are anticipated to have a significant share of force sensors. Furthermore, there are several initiatives undertaken by the government authorities such as policy for industrial safety that are propelling the growth of the force sensor market exponentially.

Competitive Insight

The industry players in the force sensor market are strengthening their market position by improving the quality of their existing offerings and developing the latest technology. In addition, it is observed that local players rely on new technologies to improve cost efficiency, safety, and security-based products thereby increasing market competition to a certain extent. The industry players are attracted by the expanding market and underlying latent demand, thereby expanding their business by new product development, strategic mergers and acquisitions, and partnerships with several industries. The prominent players in the force sensor market include Honeywell International Inc., Futek Advanced Sensor Technologies, TE Connectivity, Tekscan, Inc., Sherborne Sensors Inc, Measurement & Control Solutions, Infineon Technologies AG, and Siemens AG.

Swiss sensor product manufacturing company TE Connectivity is providing Force Load Cells for the Internet of Things (IoT) market, which can be used in consumer devices, Industry 4.0, and medical applications to collect a wide range of data. The highly advanced force load cells developed by TE Connectivity can provide accurate and highly reliable measurements.

Force Sensor Market Size and Market Analysis

Source:VynZ Research

Frequently Asked Questions

Geographically, Europe holds the largest share in the force sensor market.
The low cost of manufacturing, increasing improvements and advancements of medical devices and increasing demand for robotics are some of the factors that are pertaining to the growth of the force sensor market globally.
Consumer electronics are the major end users for global force sensor market.
Based upon technology type, the force sensor market is categorized into piezoelectric, piezoresistive, strain gauge, capacitive and others.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Force Sensor Market