Force Sensors Market Report

The rising adoption of force sensors in the internet of things (IoT) industry will drive market expansion over the forecast period. Several industries, including automotive, healthcare, consumer electronics and others, are rapidly adopting IoT technology. The force sensor enables consumers to engage with these cutting-edge IoT devices by utilising physical factors such as pressure and others. Due to the rapidly rising utilisation of IoT devices in the automation, healthcare and industries, the global market for force sensors is anticipated to expand at a high rate over the forecast period.

Furthermore, in EV sector, force sensors play a crucial role in enhancing battery management systems by precisely monitoring mechanical stress on battery packs. This ensures optimal performance and safety by detecting strain that could affect battery health. Additionally, force sensors are integral to advanced load distribution systems in electric vehicles, where they optimize driving dynamics by providing real-time data on weight shifts and vehicle balance. This not only improves handling and efficiency but also contributes to a smoother driving experience, showcasing a sophisticated approach to integrating force sensing technology into modern electric vehicle design.

Consumer demand uncertainty, sensor miniaturisation challenges, and long lead times for developing new force sensors can act as market limitations throughout the forecast period. However, the changing demands of the end-user industries are a substantial market restriction. End-user demand is not constant, posing a challenge to manufacturing schedules. Manufacturing facility rejection rates are high owing to damage or low sensitivity, limiting total production capacity. Furthermore, the demand for more accurate measurements is driven by continually changing needs in the automotive, healthcare and aerospace industries.

Additionally, the rapid evolution of force sensor technologies, driven by breakthroughs in MEMS, advanced materials, and data analytics, poses a significant challenge. Companies face the risk of their existing sensor technologies quickly becoming obsolete as competitors deploy cutting-edge innovations. This fast-paced environment demands constant R&D investment and adaptation, placing pressure on firms to integrate the latest advancements swiftly. Those unable to keep up may struggle with reduced market relevance and diminished competitive advantage, highlighting the need for agile development strategies and a proactive approach to emerging technologies.

Manufacturers emphasize that force sensors are crucial for optimizing automation and enhancing product quality. They provide precise measurements for real-time process control, enabling tighter tolerances and reducing defects. In assembly lines and robotics, these sensors improve operational efficiency by ensuring correct force application, which is vital for delicate tasks. Additionally, they aid in predictive maintenance by monitoring equipment stress, thus minimizing downtime and extending machinery lifespan. This integration drives overall productivity and cost-effectiveness in manufacturing operations. For instance, in April 2023, Altosens GmbH, a Fraunhofer LBF spin-off from Osnabrück founded in April 2022, offers novel cloud-based force sensors that measure forces where this was previously not easily possible. This allows unexpected service operations to be reduced and therefore systems that are difficult to assess to be operated more economically. For instance, increase the profitability of wind turbines, especially for offshore turbines, where on-site maintenance is costly due to difficult accessibility. In addition, In August 2023, with a standardized interface to any PLC, HBK’s newly released, digital, compact, robust, and ready to go force sensors are ideally suited for industrial environments and for measuring fast processes. And although digitization is high on everyone’s agenda, it not only has challenges but also takes time and investment to implement. It is, therefore, fitting that the U9C and C9C with IO-Link have an identical mechanical dimensions and threads to that of their analogue counterparts, making it easy to upgrade existing setups to the new technology.

Increasing AI and IoT technologies, as well as significant demand from the Asia-Pacific region, are propelling the force sensor market forward. Technological advancements and rising automotive standards in emerging economies such as India, China and others are having an impact on the increasing need for sensors in the manufacturing industry due to a variety of benefits such as increased reliability, operational efficiency and effectiveness. India's automotive industry has also grown, and it is playing an increasingly crucial role in the global automotive industry. For instance, the Indian passenger car industry was valued at US$ 32.70 billion in 2021, and it is anticipated to reach US$ 54.84 billion by 2027, according to the IBEF. Furthermore, the electric vehicle (EV) market in India is expected to reach US$ 7.09 billion by 2025. According to the China Passenger Car Association, over 2.17 million passenger cars were sold through retail channels in December 2023, about 3% increase year on year. These factors will boost the force sensor market in emerging Asian countries.

The Japanese government aims for all new vehicles produced in Japan to be electric or hybrid by 2030. The country intends to provide subsidies to the private sector in order to accelerate the development of motors and batteries for electric vehicles. Furthermore, rising expenditures to support the deployment of self-driving vehicles will contribute to the growth prospects for force sensors. Such optimistic regional trends are projected to drive market expansion during the forecast period. It is anticipated to fuel the demand for force sensors.