Market Overview
The global market for position sensor exhibits the potential to attain a valuation of roughly USD 6 billion by 2022, says Market Research Future (MRFR). The market can also obtain a growth rate of 8% from 2016 to 2022, which is the forecast period.
Market Boosters and Key Barriers
A number of consumer electronic devices like smartphones and tablets make use of integrated control systems, and this use is only going to increase in the coming years. This factor is projected to provide numerous growth opportunities to the market during the review period. A new trend related to plant automation in process industries is the mounting demand for position sensors. Strict emission laws prevalent in numerous countries in Europe are boosting the use of linear and rotary position sensors. These sensors are quite important when it comes to vehicle compliance with the emission riders.
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The position sensor industry across the globe can achieve better growth in the near future, given the technological innovations that are frequent in this particular field. This technology has given way to the advancement in efficient and smaller chipsets as well as modules with extra functions.
Advancing needs to implement high-speed precision control along with measurement of machines in manufacturing operations can also offer the market several growth avenues in the future. The focus on expanding the active vehicle safety to develop advanced driver assistance system is also believed to be working in favor of the market.
Key Players
The key players in the global Position Sensor Market Growth include- Honeywell International, Inc. (US), Ams AG (Germany), MTS Systems Corporation (US), Renishaw plc. (UK), TE Connectivity Ltd. (Switzerland), Vishay Intertechnology, Inc. (US), Allegro MicroSystems, LLC (US), Panasonic Corporation (Japan), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), Qualcomm Technologies, Inc. (US), among others.
Global Position Sensor Market - Segmentation
The worldwide market for position sensor has been segmented with respect to contact type, type, output and industry.
In terms of contact type, the market can be split into contact and no-contact.
Type-based segments mentioned in the report are linear position sensor and rotary position sensor.
Output-wise, the market can be segregated into analog and digital.
The industries that utilize position sensors include consumer electronics, automotive, healthcare, manufacturing, packaging, aerospace, and others.
Global Position Sensor Market - Regional Analysis
Asia Pacific (APAC), Europe, North America along with the rest of the world (RoW) are the primary regions with the highest concentration of the position sensor market.
Europe has managed to attain the top position with the largest share in the global position sensor market. The region is known for the high number of technological innovations, as well as sizeable large investments that are made by various automobile manufacturers for the implantation of position sensor. The regional market also benefits from the rigid laws that help elevate the use of linear position sensors in various countries across the region.
However, it is the APAC market for position sensor that can gain the highest growth rate from 2016 to 2022. The market is growing considerably owing the region’s lucrative manufacturing space and the rising focus on the implementation of position sensors in numerous sectors. Accelerated demand for cost-effective and top-quality position sensors across industries like automotive, electronics, medical and healthcare, packaging and manufacturing can take the market in APAC to greater heights in the following years. Expanding population, surging research and development (R&D) investments, and the thriving electronics sector in the region can help the market achieve better growth prospects in the review period.
Automation coupled with robotics can be considered to be the chief reasons behind the robust growth of the position sensor market in North America. The market growth in the region is the most noticeable in the highly developed countries like the United States (USA) as well as Canada. The overall size of the automotive manufacturing sector in the US is quite expansive, wherein a number of industries are making more and more use of position sensors in the automated manufacturing processes.
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Intended Audience
- Original Equipment Manufacturers
- Distributors
- Research firms
- Consultancy firms
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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