Market Dynamics:
The growing automotive industry is one of the major drivers estimated to boost the demand for MEMS pressure sensors market during the forecast period. The rising production of vehicles has increased the demand for pressure sensors to measure pressure in applications like airbags, transmission control systems, and anti-locking braking systems (ABS). For instance, according to the International Organization of Motor Vehicle Manufacturers, worldwide sales of passenger cars reached around 77.6 million units in 2018, a 2% growth from previous year sales of 76.1 million units. Additionally, the increasing adoption of Internet of Things (IoT) and supporting technologies is also expected to fuel the demand for MEMS pressure sensors that enable remote monitoring of pressure in various industrial and commercial applications. However, short replacement cycles and limited life span of MEMS pressure sensors may hamper the market growth.

Key Takeaways

The Global MEMS Pressure Sensors Market Size is expected to witness high growth, exhibiting CAGR of 6.14% over the forecast period, due to increasing demand for automotive safety and comfort systems. MEMS pressure sensors find wide applications in anti-locking braking systems, tire pressure monitoring systems and engine management systems in automobiles.

Read More: https://newsinsights123.blogspot.com/2023/12/micro-electromechanical-systems-mems.html