DUBLIN--(BUSINESS WIRE)--The "Force Sensors Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Force Sensor Market is expected to register a CAGR of over 5.9% during the forecast period 2019-2024.
Force sensors have become key features in industrial robots, by enabling them to be task agnostic and safely operate alongside humans. These sensors have improved the monitoring and managing of networked embedded systems. The adoption of automation has transformed the global landscape, as these sensors have become critical to all automated equipment, offering accuracy and precision in all operations.
Force sensing makes surfaces more intuitive to use, and the displays enable user experience designers to simplify and improve the control surface layouts, on many of today's appliances. This has allowed designers to seamlessly integrate force sensors into new designs, by exploring a new generation of user interfaces for appliances.
To meet the demands for testing ever-smaller switches and touchscreens, the market studied has evolved to test small buttons. These sensors also offer protection from overload, while being able to provide accuracy and standardization.
Rapidly changing requirements across the automotive, medical, and aerospace sectors have been creating the need for more precise measurement. However, the technological landscape in the industry has been developing at a slower pace as compared to industrial demands, thereby creating a gap between supply and demand.
This technological gap in demand could lead to under-utilization of the manufacturing and assembly processes. Further, this may even cause the impairment of assets, including facilities, equipment, and intangible assets, leading to increased expenses.
Key Market Trends
Healthcare is Expected to Register Significant Growth
The healthcare segment of the market studied is anticipated to record the fastest growth, among all applications of force sensors. Across the globe, increasing healthcare expenditure, extensive R&D activities, and rising demand for portable medical devices and automation in the sector, are anticipated to be the primary factors responsible for the growth of the segment.
In the healthcare sector, force sensors are often implemented in the form of load cells. In such way, force sensors are used for various applications, including infusion pumps, physical therapy, patient weight monitoring systems, cardiopulmonary-resuscitation (CPR) devices, surgical staple guns, assist machines for emergency medical treatment, and oxygen tank monitoring, among
Surgical procedures have also undergone changes, as force sensors are being employed in surgical instruments, such as ocular surgery devices, staple machines, etc. These help the operating doctors to conduct more accurate and precise procedures, with the help of digital assistance provided by real-time data gathered and processed from force sensors.
In the recent times, with the advent of connected medical equipment policies and IoT technologies, minimal equipment, such as saline drip weight measurement systems, have also been identified to be using force sensors to take periodic readings, in order to provide the best possible patient care.
The United States is Expected to Hold Major Share
High implementation of digitization in the healthcare sector, due to the increasing necessity to improve quality of health care services, and the rise in the military and defense expenditure are expected to offer growth opportunities for force sensors in the United States. The country recorded the highest healthcare expenditure in the world over the last few years. As of 2017, health expenditure in the country was valued around USD 3.5 trillion, an increase of 4.5% from 2016. However, due to the digital revolution, it can be estimated that over USD 300 billion in healthcare expenses can be saved, specifically, in the field of chronic disease management.
FDA's announcement of regulation, which highlights high-risk technologies can help big market players, who want to develop a universal platform for wearable medical technology. This is expected to drive the demand for wearables in medical applications.
The Force Sensor Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
The companies operating in the market are also acquiring start-ups working on Force Sensor Market to strengthen their product capabilities. In July 2018, NextInput Inc. introduced the new ForceGaug sensor family, with 200% higher sensitivity performance. This disruption paves the way for the emergence of force-based HMI in smart watches, large touch displays, automotive panels, stainless steel appliances, and other applications.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Innovation and Development in the Consumer Electronics Sector
4.3.2 Surging Demand in the Automotive Sector
4.4 Market Restraints
4.4.1 Fluctuating Market Demands and Customization Issues
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Technology
5.1.4 Strain Gauge
5.1.5 Other Technologies
5.2 By End-user Industry
5.2.2 Industrial Manufacturing
5.2.5 Aerospace & Defense
5.2.6 Consumer Electronics
5.2.7 Others End-user Industries
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alps Electric Co. Ltd.
6.1.2 Synaptics Inc.
6.1.3 Interlink Electronics Inc.
6.1.4 Pressure Profile Systems Inc.
6.1.5 Uneo Inc.
6.1.6 Futek Advanced Sensor Technology Inc.
6.1.7 Tekscan Inc.
6.1.8 Hottinger Baldwin Messtechnik (HBM) GmbH
6.1.9 Kavlico Corporation
6.1.10 Flintec Group AB
6.1.11 Tecsis GmbH
6.1.12 Shenzhen New Degree Technology Co. Ltd.
6.1.13 Sensel Inc.
6.1.14 Tangio Printed Electronics
6.1.15 NextInput Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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