Position Sensor Market:
The GMI Research expects the position sensor market to expand at a significant rate. From a regional perspective, the Asia-Pacific is expected to increase at a higher CAGR due to increasing research and development investments in the semiconductor industry and growing manufacturing and electronics sectors.
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Position Sensor Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global position sensor market is projected to experience strong demand over the upcoming years due to the rising demand from the manufacturing sector for inspection and measurement solutions. These sensors detect, measure, and evaluate the profiles on multiple surfaces in diverse industrial applications, such as transportation systems, HVAC systems, heavy-duty machinery, mobile hydraulics, construction equipment, and smart buildings. Furthermore, the strong demand from the aerospace industry to offer position reference data for fly-by-wire flight control systems will further propel the growth of the position sensor market size in the upcoming years. Factors including advancements in the automotive sector and the development of autonomous automobiles are certain factors that are expected to drive the growth of the position sensor market share in terms of revenue.
The increasing demand for position sensors for deployment in transmission and accelerator pedal due to the growing requirement to offer convenience to the driver has led to an upsurge in demand for the market. Moreover, the emerging trend of industrial automation is bringing lucrative opportunities to the market. Additionally, the rising potential for industrial robotics applications and developments, including Industry 4.0, will further contribute to the market growth. The manufacturers of several regions across diverse industries are rapidly investing in improving their infrastructure with fully-automated machine tools to support the growth of the position sensors market. On the other hand, the increasing cost of ownership will hinder the growth of the global position sensor market growth. Moreover, the lack of an appropriate standard for measuring performance indicators is a factor restraining the market growth.
Position Sensor Market’s leading Manufacturers:
• Honeywell
• SICK AG
• AMS AG
• TE Connectivity
• MTS Systems
• Vishay Intertechnology
• Infineon Technologies
• STMicroelectronics
• Bourns Inc.
• Allegro Microsystems
Position Sensor Market Segmentation:
Segmentation by Technology:
• Linear
• Proximity
• Rotary
• Others
Segmentation by Application:
• Military
• Aerospace
• Automotive
• Electronics
• Manufacturing
• Others
Segmentation by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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