– Apart from streamlining efficiencies, Industry 4.0 is related to revolutionizing manufacturing-related processes and systems to achieve dramatic improvements in every area. The Industrial Internet of Things (IIoT) is a core driver in helping companies break down communication and collaboration siloes. Pressure Transducers are being useful in a variety of industries. Many of these industries handle volatile chemicals or fluids that are under immense pressure. They are used in applications requiring high-resolution and accurate measurement of pressure. So, pressure transducers providing the engineers or operators with values that indicate the real conditions within a container, are therefore of demand. Due to the weak signals that are generated by the pressure transducer, it is exclusively used over relatively short distances, such as inside a test laboratory or some instrumentation.
– The aerospace industry extensively uses pressure transducers in aircraft flight testing processes. The technical specific, regulated aerospace sector globally demands high-quality pressure transducers for such critical applications. 

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Key Market Trends

Medical is Expected to Hold a Significant Market Share.

– Reliable hemodynamic and cardiovascular data is essential to measure the criticality of the patients. Pressure transducers are used to continuously relay blood pressure information from a pressure monitoring catheter (arterial line, central venous pressure line, or other pressure monitoring products) to the patient’s monitoring system. This is a mission-critical application since a wrong reading can be fatal for the patient. This integration assures a very high degree of robustness and reliability. It also enables ease of use and space-saving that is much needed in Intensive Care Units and Operating Rooms.
– All medical waste must be compulsorily sterilized before it can enter municipal sewage and trash systems. Steam sterilizers, or autoclaves, are widely used for sterilization of medical instruments and the predisposal treatment of medical waste. Pressure transducers are critical to this process. Hospital steam sterilizers used in medical applications require that pressure transducers be compatible with high-pressure steam and biological contaminants. Pressure transducers engage in monitoring the pressure inside the sterilization chamber for regulation of steam quality. With the IoT connected devices riding, the adoption rate of smart pressure transducer will follow the same trend owing to its smart characteristics.
– Anesthesia machines reply to pressure transducers to supply accurate, continuous information on the state of oxygen and nitrous oxide feed pressure. Pressure Transducers are used in Anesthesia Machines for Medical, Health and Safety equipment in the following medical gas applications which includes Oxygen Hospital Supply Line Pressure Monitoring, Oxygen Backup Supply Pressure Monitoring, Nitrous Oxide Hospital Supply Line Pressure Monitoring, Nitrous Oxide Backup Supply Pressure Monitoring, Low Oxygen Pressure Monitoring for Alarm Signalingand Output Gas Mixture Pressure to the Patient Monitoring.

North America is Expected to Hold a Significant Market Share.

– North America is expected to hold a significant share of the market. The industrial development has been massive in the United States regions. The introduction of Industry 4.0 has to lead to an ecosystem that consists of multiple connected devices. Due to the increased competition in the industrial sector in the United States, special attention is given to achieve high-performance efficiencies to achieve optimization and reduce performance failures. The rising trend in the market is the introduction of a smart product portfolio with digital communication interfaces. This is expected to increase the adoption rates substantially. Other benefits will automatically become available with the inclusion of intelligence in the transmitters such as self-calibration, remote calibration and ranging, and self-diagnostics.

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– The US International Arctic Buoy Program, co-managed by the National Ice Center and the Polar Science Center at the University of Washington Applied Physics Laboratory (UW-APL), works with multi-national collaborators and US government agencies to maintain a network of drifting buoys in the Arctic Ocean to provide meteorological and oceanographic data for real-time operational requirements and research purposes including support to the World Weather Watch Programme and the World Climate Research Programme. Information is gathered and used in research, forecasting, satellite validation, assimilation into numerical climate models, and tracking of ice conditions.
– The Mensor CPT6020 Precision Pressure Transducer is used on the UW-APL buoys for the measurement of sea surface height from which dynamic ocean topography can be determined. The CPT6020 is used in a variety of OEM applications where a high accuracy pressure sensing is required. The CPT6020 provides an accurate water height measurement that contributes to other measures that yield real-time information about the arctic environment’s condition. Meteorological and oceanographic institutes, government and non-governmental organizations, research agencies, data centers, and commercial services interested in the Arctic Ocean could extensively benefit from this information.

Competitive Landscape

The pressure transmitter & transducer market is highly competitive and consists of a significant number of players, leading to a quite fragmented market. In terms of market share, no particular player currently dominates the market. The manufacturers are engaging in mergers and acquisitions and product innovations to gain a competitive advantage.

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview (Covers the impact due to COVID-19)
4.2 Industry Attractiveness – Porter’s Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis

5 MARKET DYNAMICS

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