Position Sensor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Potentiometric Position Sensor, Capacitive Position Sensor, Rotary Position Sensor, Others), By Specification (Contact, Contactless), By Application (Material Handling, Test Equipment, Machine Tool, Robotics, Motion Systems, Others), By Industry (Consumer Electronics, Automotive, Aerospace And Defense, Packaging, Manufacturing, Others), And By Geography - Forecasts From 2021 To 2026
- Published : Jul 2021
- Report Code : KSI061610067
- Pages : 131
The position sensor market is evaluated at US$5.391 billion for the year 2019 and is projected to grow at a CAGR of 8.43% reaching the market size of US$9.500 billion by the year 2026.
A position sensor is an electrical device that measures displacement, distance, position, or length to automate, monitor, or test processes. It calculates the distance travelled by the body from its beginning point. It is used in a variety of industries, including automotive, aerospace, industrial, and healthcare. The position sensor market has been segmented based on specification, type, application, geography, and industry. Based on the specification, the market has been segmented into contactless and contact. The contactless segment is expected to have a significant share in the market. Based on type, the position sensor market is categorized as a capacitive position sensor, potentiometric position sensor, rotary position sensor, and others. By application, the market is categorized into material handling, test equipment, machine tool, robotics, motion systems, and others. The machine tool segment is expected to witness significant growth in the projected period attributable to applications such as assembly and welding robots, sheet metal processing, and laser cutting among others. Position sensors in the assembly line enable seamless product transit, allowing for large-scale manufacturing with optimal resource use while minimising production costs. Based on industry, the market is further segmented into automotive, consumer electronics, aerospace and defence, manufacturing, packaging, and others. As the popularity of position sensors grows, additional R&D investments are being undertaken to improve existing systems. However, the rising cost of research and development efforts and lack of product differentiation will act as a restraint to the market growth.
AIDrivers collaborated with SICK AG in March 2021 to create sensor solutions and sensor intelligence for the future of autonomous mobility, particularly in ports. Politecnico di Milano signed a five-year collaboration agreement in June 2021 with STMicroelectronics for the establishment of a cooperative research centre on innovative materials for sensors. Blumio and Infineon Technologies AG announced a new partnership to co-develop a non-invasive blood pressure sensor, wearable based on Infineon's XENSIVTM radar chipset in June 2020. AMS AG introduced its first inductive position sensor for high-speed, industrial, and automotive electric motors in December 2019. The AS5715R-based rotor position sensing solutions can match the latency and precision of resolvers used in fast motor applications.
Increasing trend of automation and technological advances
Manufacturers are leaning toward automation of industrial activities as sophisticated technologies, like Industry 4.0, gain traction. As a result, businesses from diverse locations and industries are focusing their efforts on enhancing their production infrastructure by implementing completely automated machine tools, resulting in a surge in demand for position sensors. The usage of linear and rotational position sensors is being boosted by strict emission restrictions enacted in numerous European nations. These sensors are critical in ensuring vehicle compliance with emission regulations. Due to scientific advancements in optical position sensors, more effective and compact modules and chipsets with additional capabilities are being developed. The demand for high-speed precise control and monitoring of machines in industrial operations is increasing, opening up new growth opportunities. In addition, 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 throughout the projected period.
Rising use of position sensors in end-user industries
The growing demand for position sensors in the manufacturing and automotive industries is projected to be one of the key drivers of the market. There is an increasing demand for position sensors in the automotive industry due to rising concerns regarding vehicle safety. Growth is predicted to be aided by an increase in active vehicle safety to produce an advanced driver assistance system. To meet industry requirements, the manufacturing companies necessitate a high level of precision. A position sensor monitors several important properties, including profiling, height, width, gap, angle, and so on. Transportation systems, HVAC systems, industrial equipment, mobile hydraulics, heavy-duty gear, smart buildings, and construction equipment benefit from these sensors, which detect and assess the profiles on various object surfaces.
The Asia Pacific is expected to grow at the quickest speed
By geography, the position sensors market is segmented into North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions. Asia Pacific region is projected to witness rapid growth during the projected period attributable to the emerging trend of automation in industrial and manufacturing processes, healthcare sector, and packaging industries in the region. Additionally, the growing demand for consumer electronics such as smartphones and wearables will drive the market demand for position sensors. Furthermore, in countries such as India and China, the increasing demand for passenger vehicles will propel the expansion of the position sensors market in the APAC region. The market for position sensors in the Asia Pacific is predicted to rise as the region's population grows, R&D investments increase, and the manufacturing and electronics sectors expand.
The Covid-19 outbreak had a significant influence on the position sensor market. The outbreak has caused significant disruptions in end-user industries that use position sensors such as the manufacturing industry, including supply chain problems, technological event cancellations, and office closures which have, in turn, impacted the position sensor market negatively. According to the United Nations Conference on Trade and Development, the COVID-19 epidemic might cause global FDI to drop by 5% to 15% as a result of the manufacturing sector's downturn and factory closures. This resulted in a major drop in revenue and demand for position sensors companies, affecting the position sensors market in 2020. However, the manufacturing rate is expected to return to normal during the projected period, hence, the position sensor market is expected to recover during the projected period.
Position Sensor Market Scope:
|Market size value in 2019||US$5.391 billion|
|Market size value in 2026||US$9.500 billion|
|Growth Rate||CAGR of 8.43% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Specification, Application, Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Texas Instruments Incorporated, CTS Corporation, ams AG, TE Connectivity, MTS Sensor Technologie GmbH & Co. KG, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors, SICK AG, Keyence Corporation, STMicroelectronics N.V.|
|Customization scope||Free report customization with purchase|
- By Type
- Potentiometric Position Sensor
- Capacitive Position Sensor
- Rotary Position Sensor
- By Specification
- By Application
- Material Handling
- Test Equipment
- Machine Tool
- Motion Systems
- By Industry
- Consumer Electronics
- Aerospace and Defense
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the position sensor market size by 2026?
A1. The global position sensor market is projected to reach a market size of US$9.500 billion in 2026.
Q2. What are the growth prospects for the position sensor market?
A2. The position sensor market is projected to grow at a CAGR of 8.43% during the forecast period.
Q3. What is the size of the global position sensor market?
A3. Position Sensor Market was valued at US$5.391 billion in 2019.
Q4. Which region holds the largest market share in the position sensor market?
A4. Asia Pacific region is projected to witness rapid growth during the projected period attributable to the emerging trend of automation in industrial and manufacturing processes, healthcare sector, and packaging industries in the region.
Q5. What factors are anticipated to drive the position sensor market?
A5. The growing demand for position sensors in the manufacturing and automotive industries is projected to be one of the key drivers of the market.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Position Sensor Market Analysis, By Type
5.2. Potentiometric Position Sensor
5.3. Capacitive Position Sensor
5.4. Rotary Position Sensor
6. Position Sensor Market Analysis, By Specification
7. Position Sensor Market Analysis, By Application
7.2. Material Handling
7.3. Test Equipment
7.4. Machine Tool
7.6. Motion Systems
8. Position Sensor Market Analysis, By Industry
8.2. Consumer Electronics
8.4. Aerospace and Defense
9. Position Sensor Market Analysis, By Geography
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.4. South Korea
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.1. Texas Instruments Incorporated
11.2. CTS Corporation
11.3. ams AG
11.4. TE Connectivity
11.5. MTS Sensor Technologie GmbH & Co. KG
11.6. Honeywell International Inc.
11.7. Infineon Technologies AG
11.8. NXP Semiconductors
11.9. SICK AG
11.10. Keyence Corporation
11.11. STMicroelectronics N.V.
Texas Instruments Incorporated
MTS Sensor Technologie GmbH & Co. KG
Honeywell International Inc.
Infineon Technologies AG
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