A Force Sensor is used for measuring the amount of force applied to an object. Force sensors are used in a wide range of products and applications such as medical devices, automobiles, electronic devices, and others. Growing industrial automation and changing manufacturing landscape are some of the major factors driving growth of the market. Increasing adoption of force sensor in the automotive industry is expected to accelerate the growth of the market during the forecast period. Furthermore, rising demand for advanced medical equipment in the healthcare sector is generating demand for force sensors.
The global force sensor market is expected to witness significant growth during the forecast period (2020–2027) due to the increasing adoption force sensor in the IoT. The adoption of IoT technology is rapidly increasing in various industries such as automotive, healthcare, consumer electronics, and others. The force sensor enables user to communicate with these advanced IoT devices with the help of physical parameters such as pressure and others. Rapidly increasing adoption of IoT devices in the automation, healthcare, and industries is driving the global force sensor market growth during the forecast period. For instance, according to Coherent Market Insights’ analysis, the global IoT device market is expected to reach US$ 568.3 Mn by 2023. There are wide range of force sensors available in the market with different sizes and shapes, however, the basic operation remains the same in which applied force is inversely proportional to resistance in the sensor. Many key players in the market are offering wide range of products especially for IoT sensor market. For instance, TE Connectivity, a Switzerland-based sensor products manufacturing company, is offering Force Load Cells for Internet of Things (IoT) market, which can be used for consumer devices, Industry 4.0, and medical applications in order to collect wide range of data. The highly advanced force load cells developed by TE Connectivity can offer accurate measurement with high reliability.
Counterfeit semiconductor is a major problem across the force sensor market, where genuine product is replaced by faulty product causing damage to the equipment. Counterfeit semiconductor components create major risks in the global semiconductor supply chains, public health and safety, and civilian, and military infrastructure. This is a major issue in various countries across the world, despite gradual improvements in enforcement of intellectual property rights across the world.
Global Force Sensor Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has significantly disrupted almost all the industries including, automotive, medical & healthcare, consumer electronics, clothing & textile, food & beverage, manufacturing, aerospace & defense, oil & gas, construction, agriculture, and others. In order to evaluate the overall impact on the global force sensor market, the company should consider short term impact and long term impact of the COVID 19 on the industry. In short term, force sensor market is largely effected as many key players in the market had to temporarily closedown the production facilities in order to safeguard their employees health. Furthermore, on the supply chain side, uavailability of raw materials for manufacturing of components due to complete lockdown is a major restraint for the growth of the market. Due to delay in supply of raw materials and component, the manufacturing companies were unable to deliver the products in the market. Therefore, in the short term, the force sensor market is largely affected by the pandemic. As governments are opening up in phases in many countries, production is resuming, however, companies are still working with partial employees on the shop floor and remaining from home.
|Base Year:||2019||Market Size in 2021:||US$ 8,558.3Mn|
|Historical Data for:||2017 to 2019||Forecast Period:||2021 to 2027|
|Forecast Period 2021 to 2027 CAGR:||7.1%||2027 Value Projection:||US$ 12,910.0 Mn|
Honeywell International Inc., Texas Instruments Incorporated, ATI Industrial Automation, Inc., TE Connectivity, Tekscan, Inc., Racelogic Ltd, Magnetic Sense GmbH, SensorData Technologies, Inc., Sensors And Synergy S.A. (SENSY S.A.), Sensata Technologies, HBM, Strainsert, Inc., FUTEK Advanced Sensor Technology, Inc., Gefran, Althen Sensors, PCB Piezotronics, OMRON Corporation, WIKA Alexander Wiegand SE & Co. KG, Flintec Inc.
|Restraints & Challenges:||
Asia Pacific is expected to held dominant position in the global force sensor market during the forecast period
Asia Pacific held dominant position in the global force sensor market in 2021, accounting for 38.3% share in terms of value, followed by Europe, North America and Rest of the world.
Figure 1: Global Force Sensor Market Share (%), By Region, 2021
Asia Pacific is expected to exhibit highest growth during the forecast period owing to growing adoption of consumer electronics such as smartphones, tablets, and increasing demand for smart wearable in emerging economies. The increasing production of electronics in countries such as India has created lucrative demand for force sensors in the market. For instance, according to Indian Cellular Association (ICA), the annual production of mobile phones reached 11 million in 2017 from 3 million in 2014. Furthermore, the increasing demand for smart watches from athletes and fitness enthusiasts is driving the segment growth. Currently, smart watches are used by cyclists, runners, and athletes, owing to the wide range of monitoring capabilities is expected to drive growth of the market. For instance, according to Coherent Market Insights’ report, the number of smart wearable across the globe increased from 523.3 million in 2017 to 832.3 million in 2020.
Europe is expected to exhibit significant growth during the forecast period. This is attributed to the presence of large automobile players such as Toyota Motor Corporation, BMW Group, and others in the region. Automotive manufacturers are focusing on using advanced, secure, and more secure sensor-based products for various automotive applications. Furthermore, the rising industrialization and urbanization, and widespread adoption of force sensors in consumer electronics and utility sector are the major factors driving the market growth. For instance, in April 2020, Robert Bosch GmbH launched sensor for smartphones, smart wearables, and hearable devices. The increasing demand for smart watches from athletes and fitness is driving demand for smart watches. Currently, smart watches are used by cyclists, runners, and athletes, owing to the wide range of monitoring capabilities. For instance, according to Coherent Market Insights’ analysis, the revenue of smart wearable market in Europe is expected to reach US$ 2922.3 million in 2021.
Automotive segment is expected to drive the market growth during the forecast period
Among End-use Vertical, the automotive segment is expected to hold dominant position in the global force sensor market during the forecast period. This is attributed to the increasing automotive sales and production of vehicles across the globe is aiding in the segment growth during the forecast period. For instance, according to the OICA (Organisation Internationale des Constructeurs Automobiles), in 2019, the automobile sales in China reached 21.4 million units and approximately 67 million passenger cars were manufactured worldwide.
In the recent past, the automotive sector created a huge demand for touchscreen units. In addition, automotive manufacturers such as Toyota Motor Corporation, BMW Group, and others are focusing on using advanced, secure, and more secure sensor-based products for various automotive applications.
Figure 2: Global Force Sensor Market Value (US$ Bn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2027
The global force sensor market was valued at US$ 8,558.3 Mn in 2021 and is expected to reach US$ 12,910.0 Bn by 2027 at a CAGR of 7.1% between 2021 and 2027.
Major players operating in the global force sensor market include Honeywell International Inc., Texas Instruments Incorporated, ATI Industrial Automation, Inc., TE Connectivity, Tekscan, Inc., Racelogic Ltd, Magnetic Sense GmbH, SensorData Technologies, Inc., Sensors And Synergy S.A. (SENSY S.A.), Sensata Technologies, HBM, Strainsert, Inc., FUTEK Advanced Sensor Technology, Inc., Gefran, Althen Sensors, PCB Piezotronics, OMRON Corporation, WIKA Alexander Wiegand SE & Co. KG, Flintec Inc.
A Force Sensor is used for measuring the amount of force applied to an object. Force sensors are used in a wide range of products and applications such as medical devices, automobiles, electronic devices, and others. Rising demand for advanced medical equipment in the healthcare sector is impacting growth of the force sensor market. Medical equipment such as automated pumps (in order to monitor performance), micro-needle therapy, accurate CPR treatment, and others are vastly using force sensors to monitor the equipment process.
To improve the healthcare sector and provide better healthcare facility to the patients, hospitals and healthcare institutes are adopting advanced technologies such as connected devices to provide insightful data to healthcare workers, which will drive adoption of force sensors in the healthcare sector. According to Coherent Market Insights’ analysis, the global healthcare spending is expected to register 5.2% growth in the period 2019-2025. Furthermore, due to current situation (COVID-19 pandemic), various government organizations across the globe are largely investing in the healthcare sector. For instance, according to India Brand Equity Foundation, the Government of India announced US$ 9.87 million investment in the health sector in Union Budget 2020-21.
Increasing adoption of force sensor in the automotive industry is driving the market growth during the forecast period. Sensors are essential components of various automotive electronic control systems including tire pressure monitoring systems (TPMS), oil pressure sensing (OPS), and engine management system (MAP/BAP). Demand for sensors per vehicle is increasing due to changing government regulations on emissions monitoring & braking systems, and rising fuel efficiency standards. For instance, according to General Safety Regulation implemented by European Union in November 2019, it is mandatory to use various sensors to assist driver and increase driver’s safety by using various sensors. Moreover, various key automotive manufacturers are using various sensors to enhance user experience by passenger car manufacturers, which is expected to accelerate demand for force sensors from the automotive industry, globally.
Furthermore, key manufacturers in the global force sensor market are also offering various force sensors for automotive industry. For instance, Sensitronics, LLC, a U.S.-based force sensor manufacturing company, is offering various custom single zone force sensing resistors such as 1-Inch ShuntMode FSR, 1-Inch ShuntMode FSR, and others for automotive market. These advanced sensors provide accuracy for vehicle control.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.