Smart Pressure Sensors Market Introduction
A smart pressure sensor is a device which is embedded with a microprocessor and has a wireless communication feature. Smart pressure sensors have the potential to monitor, examine, and manage the pressure of liquid or gases. Moreover, the smart pressure sensors have the capability to provide digital output, communicate through a bidirectional digital bus, and execute commands and logical functions.
Smart Pressure Sensors Market – Competitive Landscape
Honeywell International Inc.
Honeywell International Inc. is a U.S. based multinational company headquartered in New Jersey. The company was established in 1906 and generated revenue of US$ 41,802 million in 2018. The company designs, manufactures, and markets its products and services to various verticals such as aerospace, building technologies, performance materials and technologies, and safety and productivity solutions.
NXP Semiconductors N.V.
Established in 1953, NXP Semiconductors N.V. is a Netherlands based semiconductor company headquartered in Eindhoven. In 2018, it generated revenue of US$ 9,407 million. NXP Semiconductors N.V. offers its product and services to automotive, identification solutions, connected devices, interfaces, and infrastructure sectors.
Infineon Technologies AG
Infineon Technologies AG is a Germany based semiconductor company headquartered in Munich. The company was established in 1999 and generated revenue of US$ 8,563 million (Euro 7,599 Million) in 2018. It develops and markets semiconductors and system solutions. The company provides its product and services to applications such as automotive, industrial power control, power management & multimarket, and digital security solutions.
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Emerson Electric Co.
Emerson Electric Co. is a U.S. based multinational company headquartered in Missouri. The company was incorporated in 1890 and generated revenue of US$ 17,408 million in 2018. The company offers various solutions for the industrial, commercial, and residential sector. The company’ products and services are offered under two business segments: automation solutions, and commercial & residential solutions. Major revenue of the company is generated from North America (United States and Canada) followed by Asia Pacific.
General Electric Company
General Electric Company is a U.S. based multinational company headquartered in Boston, Massachusetts. The company was established in 1892 and generated revenue of US$ 121,615 million in 2018. The company offers its products and services to power, renewable energy, aviation, oil and gas, healthcare, transportation, and lighting industries.
Some of the other major companies active in the smart pressure sensors market are ABB, Siemens AG, STMicroelectronics, and Robert Bosch GmbH.
Figure: Global smart pressure sensors market, by Competitive Landscape
Smart Pressure Sensors Market Dynamics
Increasing advancement in MEMS technology drives the smart pressure sensors market.
Micro electromechanical system or MEMS is a process technology used to create integrated devices or systems that combine mechanical and electrical components. The MEMS system is found in automotive, defense, communication, electronic, and medical applications. Integration of MEMS systems for air bag sensors and blood pressure sensors have driven the smart pressure sensors market globally.
Adoption of pressure sensors in the automotive industry accelerated the smart pressure sensors market.
Increasing adoption of pressure sensors for monitoring purposes in the automotive industry for various applications such as tire pressure sensors, oil pressure sensors, and differential pressure sensors have also accelerated the smart pressure sensors market, globally. In addition, the increasing sale of passenger and commercial vehicles has correspondingly accelerated the smart pressure sensors market, globally. According to International Organization of Motor Vehicle Manufacturers, the new registration or sale of vehicles globally in 2017 was 96,804 thousand units, up from 93,906 thousand units in 2016. By 2027, vehicle sales are expected to reach 132,506 thousand units globally.