Global Pressure Sensors Market Is Expected to Grow at a CAGR of 6.2% from 2014 to 2020

According to a new market report published by Transparency Market Research “Pressure Sensors Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” global pressure sensors market was valued at USD 6.53 billion in 2013, growing at a CAGR of 6.2% from 2014 to 2020 to account for USD 9.36 billion in 2020.

The pressure sensors market is primarily driven by growing demand from the automotive sector. With the increase in production of motor vehicles across the globe, the demand for automotive pressure sensors has grown substantially. In addition, government regulations mandating the use of pressure sensors in automobiles have contributed to the growth in demand for pressure sensors worldwide. With the adoption of technologies, such as Microelectromechanical systems (MEMS), the demand for pressure sensor has augmented to a large extent. The development of smart city infrastructures in the Middle East and Asia Pacific region is also influencing the overall growth of pressure sensors market.

Browse the full Pressure Sensors Market Report at http://www.transparencymarketresearch.com/pressure-sensor-market.html

Source: MarketWire.com