PUBLISHER: Grand View Research | PRODUCT CODE: 1571628
PUBLISHER: Grand View Research | PRODUCT CODE: 1571628
The global <= 5 mm2 pressure sensor market size was estimated at USD 1.17 billion in 2023 and is expected to grow at a CAGR of 6.5% from 2024 to 2030. Mobile devices such as smartphones and tablets are increasing worldwide across all age groups. The adoption of smartphones has increased significantly in emerging economies, such as Brazil, Mexico, and India, coinciding with the continued rollout of high-speed mobile data networks. India is experiencing a high smartphone penetration rate due to the increasing adoption of budget smartphones among the middle-class and lower-middle-class income groups. According to Ericsson Mobility Report, worldwide mobile subscriptions reached 8,460 million in 2023. Smartphone subscriptions stood at 6,620 million in 2022, growing to 6,970 million in 2023.
Pressure sensors are essential for improving the overall functionality of smartphones and tablets. These sensors are used in various applications, such as barometric pressure measurement, which enables altitude determination. This capability is particularly useful in navigation apps, where altitude data can provide more accurate location tracking in activities such as hiking, climbing, or even urban navigation, where elevation changes may impact route planning. In addition, barometric pressure sensors can be used for weather forecasting, giving users insights into potential weather changes based on atmospheric pressure variations.
The growing demand for thinner and lighter smartphones and tablets presents the need for internal components with smaller form factors that do not compromise performance. This demand for miniaturization is particularly important for pressure sensors, which must fit into increasingly limited spaces while maintaining accuracy and reliability. Pressure sensors <= 5 mm2 are ideally suited for this purpose, as they can be integrated into the tight confines of modern mobile devices. Their small size also allows for more flexible placement within the device, enabling manufacturers to optimize internal layouts and accommodate critical components such as batteries and cameras.
In addition, the constant rise in the number of minimally invasive medical procedures globally is a key factor driving the market. Pressure sensors <= 5 mm2 are crucial components in microcatheters and implantable medical devices, enabling the precise monitoring of physiological parameters within the body. Microcatheters are tiny, flexible tubes used in minimally invasive medical procedures to navigate the body's vascular system or other small, intricate pathways. Integrating pressure sensors within these microcatheters allows for real-time internal pressure monitoring, vital for diagnostic and therapeutic purposes.
Moreover, pressure sensors within microcatheters can also assist in guiding the catheter through the body. By detecting pressure changes as the catheter moves through different anatomical regions, these sensors can help navigate tight or complex areas, such as the coronary arteries. It ensures that the catheter reaches the target site safely and efficiently, minimizing the risk of complications.
Global <= 5 mm2 Pressure Sensor Market Report Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global <= 5 mm2 pressure sensor market report based on product, type, technology, application, and region.