The global pressure sensors market is expected to reach USD 9,434.1 million by 2020, according to a new study by Grand View Research, Inc. Favorable regulations including the U.S. government’s directive aimed at mandatory installation of Tire Pressure Monitoring Systems (TPMS) in vehicles are expected to be critical for market development. Proliferation of smartphones and tablets is expected to increase the demand for pressure sensors which are used in Global Positioning System (GPS) lock applications, wherein the GPS chipset determines altitude of the smartphone by locking on to a satellite signal and calculating positions. MEMS sensors, which were predominantly used in HVAC and industrial applications, are now being incorporated into consumer electronics equipment, which is further expected to boost market growth. End-use segments are drifting towards maturity which is expected to be a challenge market growth over the next six years.
http://www.grandviewresearch.com/industry-analysis/pressure-sensors-industry
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