Force Sensors Market Projected To Grow At A CAGR Of 4.01% During The Forecast Period 2020 To 2025

Increasing adoption of automation, improvement of medical devices is anticipated to boost the Force Sensors market during the forecast period 2020-2025. The market for Force Sensors is forecast to reach $2,426.62 million by 2025, growing at a CAGR of 4.01% from 2020 to 2025.

Force Sensors are one type of micromechanical sensors. It is a device that senses any changes in geometry or limits and shows the magnitude of some kind of mechanical force in the form of an electric signal. It is also called a transducer known for the transformation of mechanical energy into electrical energy. Sensing technology will continue to be the foundation for data collection as the need for industrial robotic automation advances that will help transform manufacturing floors into connected, cost-effective, and reliable facilities thereby boosting the market growth rate.

Industrial is set hold highest share in 2019 majorly attributed to the high adoption of automation. The significant rise in the adoption of robotics in the industrial sector is majorly contributing to the growth of the market as the deployment of force sensors in robotics enhances the effectiveness of the robots. Force sensors enables robots to have proper balance by ensuring that robots properly shifts its weight and does not fall. It also improves the weight handling capacity of the robot by ensuring appropriate grip force. Force sensors in robotics to control the force and velocity when objects are aligned, fitted, buffed or assembled; thereby improving the product quality. As stated by International Federation of Robotics (IFR), from 2020 to 2022, around 2 million units of industrial robots are anticipated to be installed in factories around the world. These factors are set to boost the demand for force sensors owing to their high deployment in robots.

APAC dominated the Force sensors market in 2019 majorly attributed to the high manufacturing base in China, India, and so on. Despite an upturn in domestic manufacturing, India electronic production in 2018-19 was $70 Billion with respect to global $2.1 Trillion. India’s domestic electronics hardware manufacturing sector faces a problem related to level-playing field against competing nations on account of several disabilities which render the sector uncompetitive which is expected to be better in future. In 2018, China's annual vehicle production accounted for more than 30 percent of the world's vehicle production, which exceeds that of the European Union, or the United States and Japan combined.

In recent time automation and robotics are one of the primary factor that is reviving and transforming the industrial sector. Industry 4.0 is enhancing and driving the adoption of automation and robotics solutions at large extent across various industrial verticals. Force and torque sensing enables robotic processes such as grinding, deburring, sanding and polishing. A force torque sensor in machine tending can help a robot locate jig stops when putting a part in a vice on a CNC machine. Force sensing also helps in applications for product inspection, packaging, and robotic assembly. With the drive toward Industry 4.0 trends, the use on the factory floor of robotic, automation and control systems has become commonplace for increasing performance, productivity and profitability. 

Medical industry is increasingly adopting smart technologies and advanced electronic equipment. Force sensors are another important means which make the medical devices smarter and efficient. The force sensors are applied in the medical devices such as surgical grippers to know the force exerted on the patient. This helps surgeons to perform critical surgeries. Global health care spending is expected to rise. The growth in healthcare expenditure will drive up the demand for medical devices which will augment the force sensor market. 

The major companies in the Force Sensors market include Spectris PLC, Honeywell International Inc., TE Connectivity, Sensata Technologies, Infineon Technologies AG, Gefran group, Futek Advanced Sensor Technology Inc., Texas Instruments, Omron Corp., among others.

In October 2019, Futek announced acquisition of a new building in Irvine thereby adding another 65,000 square feet to manufacturing. FUTEK now ships over 60,000 sensors annually