Market Scenario
Automotive industry is growing with rapid pace where position sensor is used to measure the distance between two moving objects. There are different types of position sensors that are used for displacement of objects such as resistance based sensor, linear voltage sensor, optical position sensor among others.
The reasons contributing to the growth of the position sensor market are increasing adoption of new technologies such as integrated control system for consumer electronics, increasing demand for plant automation, adoption of sensors in various industries and high investments by manufacturers. Also, the demand for the growing usage of position sensor in aircraft manufacturing and strict government law emissions are expected to boost the market over the forecast period, 2016-2022.
Geographically, Europe accounted for the largest market share in the global position sensor market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2016-2022.
The global position sensor market is expected to reach approximately USD 6 billion by the end of 2022 with 8% CAGR during forecast period 2016-2022.
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Industry News
April. 2018 - Micro-Epsilon, precision sensor manufacturer, launched miniature draw wire position sensor specially designed for high volume mobility applications like elevators and cranes. The sensor is compact in size and benefits in measuring displacement and position of components and machine parts.
March, 2018 – Melexis, global supplier of micro-electronic semiconductor solutions launched automatic position sensors, which consist of analog to digital signal conditioner, digital signal processor for advanced signal processing and output stage driver. The device is suitable for space and cost constrained automotive applications.
Key Players
The key players in the global position sensor market 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 Global Position Sensor Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by contact type: Comprises contact and non-contact type.
- Segmentation by type: Comprises linear position sensor and rotary position sensor.
- Segmentation by output: Comprises analog and digital.
- Segmentation by industry: Comprises aerospace, consumer electronics, manufacturing, healthcare, automotive and others.
- Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Global Position Sensor Market - Regional Analysis
The global position sensor market is studied for North America, Europe, Asia Pacific and rest of the world. Asia Pacific is expected to hold major market share and is expected to continue through the forecast period. The rising adoption of position sensors in manufacturing sector across developing countries like China and India are primarily driving the market. The high potential application in industrial robotics are fuelling the market in this region. North America is expected to hold significant growth rate during the forecast period. Being technically advanced region and adoption of position sensors are driving the market in this region. Europe shows decent growth during the forecast period. The rise in usage of rotary sensors across automobile industry is driving market for global position sensors in this region.
Position Sensor Market - Competitive Analysis
The Market of position sensor appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of position sensors market are targeting to invest more in technology and research and development activities to innovate their already existing technology.
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Intended Audience
- Original Equipment Manufacturers
- Distributors
- Research firms
- Consultancy firms
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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