Force Sensors Market in IOT segment is slated to grow substantially in the forecast timeframe. The adoption of internet of things (IOT) technology has augmented its usage in consumer electronics, healthcare, home automation and retail & logistics to enhance performance capabilities. The product has an edge over counterparts owing to its affordability and good shock resistance. Robot application in industries has propelled in current years and technological development has increased its use in medical devices to improve precision. Medical device market has registered a CAGR above 5% that has enhanced product usage. Such factors are expected to further boost force sensor market.
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Based on type, force sensors market is segmented into, capacitive, strain gauge, piezoelectric, piezo resistive, optical, load cell, ultrasonic, magnetic and electrochemical. Capacitive contributes majorly with applications in computer mouse, mobile phones and digital audio players owing to excellent sensitivity, repeatability and temperature stability. Piezoelectric type is growing at fast pace owing to its use in touch pads of mobile phones and to monitor combustion in internal combustion engines.
Growth in deployment of robotics in manufacturing facilities and medical industries to improve efficiency and accuracy has amplified force sensors market. Aerospace and defence segment has substantial share owing to use of piezoelectric sensors for cryogenic fuel pulsation, testing rocket motor combustion instability, monitoring helicopter health and hydraulic pump elevation.
Major restraint for force sensors market is volatility in demand. Demand is not fixed among end use sector that acts as a challenge for its manufacturing plans. Rejection rate in manufacturing facilities is quite high either due to damage or low sensitivity that can reduce overall production capacity. Further, aftermarket sales channel is not fully developed that restricts product growth.
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North America contributes considerably in global force sensors market with rapid technological advancement and increasing application in end use industry. Presence of NASA (National Aeronautics and Space Administration) and strong defence industry further promotes its adoption.
Asia Pacific force sensors market has significant share with use of capacitive type in touch pad mobile phones. The region has highest share in smart phones owing to presence of global players such as Samsung, Ericsson and Huawei. Europe, led by Germany has substantial share with well-established and flourishing automobile industry hosting giants such as Audi and Volkswagen
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