The position sensor market was valued at US$5.391 billion in 2019 and is anticipated to grow at a CAGR of 8.88% to reach a market size of US$8.981 billion in 2025. The growing adoption of automation in manufacturing and industrial units is one of the major drivers of the global position sensor market. There is an increasing demand for position sensors from the automotive industry due to rising concerns regarding vehicle safety. Population growth with higher awareness levels for health and fitness is spurring up the demand for wearable devices which, in turn, is propelling the global position sensor market growth throughout the forecast period. However, lack of product differentiation will act as a restraint to the market growth. Based on the application, the machine tool segment is expected to witness significant market growth in the forecast period. Position sensors are used for various machine tool applications such as assembly and welding robot, laser cutting, and sheet metal processing among others. In the assembly line, position sensors ensure smooth transit of products, enabling large-scale production with optimum utilization of resources while lowering production costs.
Geographically, the Asia Pacific region is projected to witness rapid growth during the forecast period owing to the emerging trend of automation in industrial and manufacturing processes. Additionally, the growing demand for consumer electronics such as smartphones and wearables will drive the market demand for position sensors. Furthermore, the increasing demand for passenger vehicles in countries such as China and India will propel the growth of the position sensors market in the region.
The Position Sensor Market – Forecasts from 2019 to 2025 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, specification, application, industry, and geography.
The position sensor market has been segmented based on type, specification, application, industry, and geography. Based on type, the position sensor market is categorized as a potentiometric position sensor, capacitive position sensor, rotary position sensor, and others. Based on the specification, the market has been segmented into contact and contactless. By application, the market is broken down into material handling, test equipment, machine tool, robotics, motion systems, and others. Based on industry, the market is further segmented into consumer electronics, automotive, aerospace and defense, packaging, manufacturing, and others.
Regional analysis has been provided with detailed analysis and forecast for the period 2019 to 2025. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 14 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the position sensor market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the position sensor market.
o Potentiometric Position Sensor
o Capacitive Position Sensor
o Rotary Position Sensor
o Material Handling
o Test Equipment
o Machine Tool
o Motion Systems
o Consumer Electronics
o Aerospace and Defense
o North America
o South America
o Middle East and Africa
o Asia Pacific
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