Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Force Sensor Market (Type: Tension Force, Compression Force, Both; End-Use Industry: Oil & Gas, Automotive, Medical, Industrial, Aerospace & Defense) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”, forecasts that the global market for force sensor market is expected to grow at a CAGR of around 4.2% from 2018 to 2026 and reach the market value of over $2.09 billion by 2026. Force sensors are known to be a force transducer that has a simple principle of converting an input mechanical force into an electrical output signal. In electric circuit force sensor act as a force sensing resistor.
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The device has a very high resistance at no load condition and as force is applied, resistance present in device decreases and can be measured by millimeter. When pressure is applied correspondingly electric current value gets generated. It consists of assorted benefits such as ultra-thin sensor construction and flexibility which lead to minimum hindrance in normal activities of the device and precise response. In the market multiple types of force sensors such as depending upon the working and sensing method are available. The key factors expected to drive the force sensor market growth during the forecast period due to increasing adoption and demand for a force sensor in the healthcare sector. Also, force sensors assist medical devices to bring to a new level of consistency and functionality. In addition to this force sensor market is projected to be driven by the factors such as improving medical devices by growing implementation, low manufacturing cost, increase in demand for industrial robots, and growing adoption for consistent products. Furthermore, growing awareness regarding the prospective use of force sensors in various electronic devices by the OEMs is the factor propelling the growth of the market. Instability in demand for force sensors market is the major restraint for the market growth. As demand among end-use industry is not fixed that will be the challenge for its manufacturing plans.
Enhancing The Healthcare Sector With Force Sensor
The force sensor is mainly used for flexibility and precise response which has integrated the force sensors into medical devices resulted to create quantifiable and actionable data. The valuable feature in the medical device market is the force which helps to provide feedback to a doctor or patient to reduce guesswork, improve patient outcomes, and create consistency. Additionally, the design engineer must take into account the size, accuracy, and cost of materials while designing the new medical devices whether it is for a diagnostic, therapeutic, or surgical purpose. Piezoresistive have thin and flexible nature, the physical presence of force sensors makes this technology by providing ideal force sensing solution for designing medical devices. Force sensors use simple electronics which lead to the rise in adoption and demand. However, some of the features such as light weight, easy to integrate allow design engineers to create non-invasive devices, highly accurate, and suitable for medical environments.
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Regional Outlook
The force sensor market holds a major value share in the Asia Pacific and is anticipated to sustain its dominance in the global force sensor market during the forecast period. The force sensor is likely to showcase a significant growth in this region which is held by the manufacturing industry. Furthermore, the force sensor market in the Asia Pacific is expected to be followed by Europe and North America in terms of revenues generated. The advanced development of force sensor technologies is currently growing the market in North America. Whereas, in Europe, there is high adoption of force sensor due to the implementation of force sensor technologies in the automotive sector, which boost the consistency and quality in the automotive industry. The Asia Pacific, mainly Japan force sensor market is likely to fuel the market growth owing to demand improved automated production capabilities and the advantages related with force sensors. Moreover, the force sensor market is gaining higher traction especially in developing countries such as China, and India during the forecast period. Latin America is likely to increase the force sensor manufacturers at a significant CAGR in terms of value.
Key Players
The global force sensor Market not only studies the top key players but also takes into consideration the role of the small and medium scale enterprises. Technological advancement has given the boost to the industry which is leading to new opportunities and invites new players in form of start-ups. Some of the key players operating in the global force sensor market, profiled in the report include Kistler Group, Dytran Instruments, Inc., Flintec Group AB, HITEC Sensor Developments, Inc., FUTEK Advanced Sensor Technology, Inc., Honeywell International Inc., Tekscan, Inc., Sherborne Sensors Ltd., TE Connectivity Ltd., Lorenz Messtechnik GmbH, ME-Meßsysteme GmbH, and among others. Companies are focusing on expanding business through strategic acquisitions and partnerships with several end-use industries.
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