Force sensor market analysis

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2. FORCE SENSOR MARKET ANALYSIS • Force Sensor Market, by Technology (Capacitive Force Sensor, Piezo-resistive Force Sensor, Piezo-electric Force Sensor, Magneto-elastic Force Sensor, and Others), and by Application ( Monitoring & Control, and Testing & Measurement), by Vertical (Automotive, Medical & Healthcare, Consumer Electronics, Clothing & Textile, Food & Beverage, Manufacturing, Aerospace & Defense, Oil & Gas, Construction, Agriculture, and Others) and by Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Market Overview • Capacitive Force Sensor • A capacitive force sensor is based on the phenomenon of capacitive coupling to detect and measure the capacitance generated by the human body at the input. Generally, capacitive force sensors are joined in a parallel-plate capacitor, which changes its capacitance in function of the applied force. There are two types of capacitive sensors namely single point of contact devices such as buttons and projected capacitive two-dimensional touch screens. • Piezo-resistive Force Sensor • Peizo-resistive force sensor is based on piezo-resistive effect. It offers change in electrical resistance of a sensing material as a result of applied strains. This causes a corresponding change in any electrical current passing through the device, which translates into a measurement. Piezo-resistive force sensor finds applications in various end-use industries namely manufacturing, automotive, and biomedical. • The global force sensor market is estimated to account for US$ 8,929.4 Mnin terms of value by the end of 2019

4. Market Dynamics-Drivers • Growing adoption of internet of things in numerous industries is expected to drive the global force sensor market growth over the forecast period • Force sensors are used to measure to change in physical parameters, which is why it is used in numerous internet of things (IoT) applications such as consumer electronics, home automation, healthcare & life science, environment, transportation, building automation, retail & logistics, security & public safety, and industrial. Growing demand for consumer electronics and home automation is expected to drive growth of the global force sensor market over the forecast period. For instance, in May 2016, SIGFOX, a France-based cellular company, the company is expected to deploy its Internet of Things (IoT) network in 100 cities in the U.S., owing to increasing demand for IoT connectivity in the U.S. Furthermore, in April 2015, Airbus DS GmbH, a subsidiary of Airbus Group, partnered with various small- and mid-sized enterprises (SMEs) with aim to enhance its presence in the growing market of IoT. • Increasing number of sensors per vehicle is expected to propel growth of the global force sensor market during the forecast period • Sensors play crucial role in various electronic control systems including oil pressure sensing (OPS), tire pressure monitoring system (TPMS), and engine management systems. Changing government regulatory policies emission monitoring and braking systems, growing focus on deploying advanced sensing solutions, and increasing fuel efficiency, in order to enhance user experience by automakers are expected to boost the global force sensor market growth over the forecast period. • Asia Pacific region dominated the global force sensor market in 2019, accounting for 39.6% share in terms of value, followed by Europe, and North America respectively

5. Market Dynamics- Restraints • Lengthy regulatory approval processes are expected to hinder growth of the global force sensor market during the forecast period • Key players are focused on research and development activities, in order to deliver efficient, cutting-edge technological solutions, in order to cater to growing need from various industries such as healthcare, automotive, industrial, and medical. Each industry and country follows a varied regulatory and endpoint compliance requirements and technology assessment process, which is a long process and requires a long period of time for approval. This, in turn, is expected to hinder the market growth over the forecast period. • Forgery in semiconductor components is expected to restrain the global force sensor market growth over the forecast period • There is a high prevalence of counterfeit semiconductor components in the global market, which acts as a major threat for growth of the market. These counterfeit products are used in various sectors such as infrastructure, military, and more. This is a sever issue in numerous countries, since gradual improvement in enforcement of intellectual property rights has been taken. According to the Semiconductor Industry Association (SIA) stats, counterfeit semiconductor components cost the U.S. semiconductor industry around US$ 7.5 billion each year. Hence, such factors are expected to hamper the market growth in the near future.

6. Market Opportunity • Growing adoption of force sensors in the musical industry • Constant adoption of force sensors as human-machine interface offers new business opportunities for force sensor manufacturers worldwide across various industries music & entertainment. Musical instruments with force sensors would facilitate musicians three-dimensional input into their electronic instrument. Integrating force sensors with musical instruments is expected to gain significant traction in the near future. Manufacturers could focus on offerings force sensor products for such application. • Growing application in medical and healthcare sector to provide growth opportunity • Increasing adoption of ICT in healthcare and medical sector and growing need to improve the quality of healthcare services is expected to pose lucrative growth opportunities for market players. Force sensors can be utilized in various medical applications such as therapeutic, diagnostic, and preventive. Moreover, growing focus on developing assistive medical devices and health wearable provide significant opportunities for global force sensor manufacturers to develop such products.

7. Market Trends • North America Trends • North America semiconductor manufacturing market is constantly evolving with focus on research and development activities. According to Semiconductor Industry Association (SIA), the U.S. semiconductor industry annually invests around one-fifth of revenue in research and development (R&D). According to International Trade Administration (ITA), in 2015, 10 of the top 20 global semiconductor companies were U.S. firms, and U.S. semiconductor companies generated over US$ 165.9 billion in sales and account for 50 % of the US$ 335.2 billion global market. Automotive sector is the potential end-use industry in force sensing technologies in North America. • Latin America Trends • Localization of manufacturing capabilities and globalization of microelectronics industry in Latin America, new business opportunities are being offered to both electronics and supply chain companies. SIX Semiconductors S.A., Ceitec, and HT  Micron are the prominent companies in Latin America. In 2008, the government of Brazil invested significantly in Ceitec S.A., a government-owned organization, owing to growth of the semiconductor industry. The primary objective of this investment was to facilitate production of semiconductor components in the country.

8. Competitive Section • Key companies operating in the global force sensor market are Sensata Technologies Inc., TE Connectivity Ltd., Tekscan Inc., Freescale Semiconductor Inc., General Electric, Innovative Sensor Technology IST AG, and ATI Industrial Automation Inc. • Key Developments • Key companies in the market are focused on product launches, in order to expand their product portfolio. For instance, in April 2017, ATI Industrial Automation, Inc. introduced Axia80 Force/Torque sensor, which is a force seeking feedback system. • Key players in the market are focused on product development, in order to enhance their product portfolio. For instance, in February 2017, Tekscan, Inc. introduced A502 off-the-shelf single-element FlexiForce sensor with the objective to improve the prototyping process for design engineers by offering a variety of low-cost, off-the-shelf sensors in different shapes, sizes and force ranges

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