Position Sensor Market

Position Sensor Market Overview

Position sensors are the devices used for the measurement of position where displacement, position, distance, or length measurements are utilized for automating, testing, or monitoring the processes. Position sensors can either be absolute position sensors or relative sensors i.e. displacement sensors. Position sensor uses different types of technologies such as linear, proximity, rotary, and other advanced technologies.

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Major Position Sensor Market Drivers

Rising demand from the manufacturing industry for inspection and measurement solutions is driving the market demand of position sensors globally. These sensors measure, detect, and evaluate the profiles on different surfaces in diverse industrial applications, including transportation systems, mobile hydraulics, HVAC systems, construction equipment and others. High demand to provide position reference data in aerospace industry for fly-by-wire flight control systems is fuelling the market growth. Factors such as advancements in the automotive industry and development of autonomous automobiles are projected to drive the position sensor market.

The market demand for position sensors for deployment in transmission and accelerator pedal has increased at a significant rate owing to the rising need to provide convenience to the driver. In addition, growing trend of industrial automation is projected to create new growth avenues for the position sensor market size. Furthermore, expanding growth potential for industrial robotics applications and developments such as Industry 4.0 will further propel growth of the position sensor market.  The manufacturers of various regions across diverse industries are increasingly investing on enhancing their infrastructure with the help of fully-automated machine tools, which is encouraging brisk growth in the demand for the position sensors.

Restraint in the Position Sensor Market

High cost of ownership is projected to hamper the global position sensor market growth. Further, lack of an appropriate standard for measuring performance indicators is also expected to hinder the market growth.

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Technology- Segment Analysis

Based on the technology, rotary held the higher market share in the global position sensor market. The dominance of rotary sensors can be attributed to the widespread adoption of these devices in various industries including manufacturing, automotive, healthcare, and consumer electronics, among others. The proximity sensor is projected to grow at a higher CAGR over the forecast period owing to increasing deployment in aerospace & defence, automotive, consumer electronics, manufacturing, and other sectors. The widespread adoption of these sensors in smartphones in order to detect accidental screen taps on touch-screen is further surging the growth of the market. Furthermore, the proximity sensors have emerged as crucial data acquisition devices for providing data to the controllers in the form of individual process variables.

Application- Segment Analysis

Based on the Application, manufacturing segment is projected to grow at a higher CAGR in the position sensor market during the forecast period. Several manufacturers of intermediate goods, consumer goods, and capital goods deploy various types of position sensors, such as magnetic sensors, angular sensors, and linear Hall Effect sensors for the safety, commutations, and monitoring applications. All these factors will drive the market demand for position sensors in the coming years. The growing drift toward the automation of the industrial processing systems has resulted in heightened demand for position sensors.

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Regional – Segment Analysis:

Based on region, Asia-Pacific region is projected to grow at the higher CAGR during the forecast period. Factors such as prospering manufacturing and electronics sectors, and rising investments in R&D in the semiconductor industry are anticipated to boost the market demand for position sensors in the Asia-Pacific region. Further, the outsourcing of the manufacturing activities in the developing low-cost countries in the Asia-Pacific region is projected to witness robust demand for high-end precision sensors and equipment in the region. North America is projected to dominate the market over the forecast period owing to the robust semiconductor industry, increasing advancements by players including Honeywell International Inc., STMicroelectronics, Vishay Intertechnology, and other players. North America has retained its position at the forefront of the adoption of position sensors majorly in the field of agriculture. According the Economic Research Services, USDA, large-holding farms are expected to deploy precision agriculture solutions including position sensors at a significant extent, thus supplementing the growth of the overall market.

Top Market Players

Various notable players operating in the market include Honeywell International Inc., SICK AG, AMS AG, TE Connectivity, MTS Systems, Vishay Intertechnology, Infineon Technologies, STMicroelectronics, Bourns Inc., and Allegro Microsystems, among others. 

Key Developments:

• • In 2020, AMS AG launched lower system cost position sensors designed for high-speed electric motors in order to improve the electrification efforts of the automotive industry for building greener, smarter, and safer vehicles.

Segments covered in the Report:

The global position sensor market has been segmented on the basis of technology, application, and regions. Based on Technology, the market is segmented into Linear, Proximity, Rotary, Others. Based on Application, the market is segmented into Military, Aerospace, Automotive, Electronics, Manufacturing, and Others. 

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Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Honeywell, SICK AG, AMS AG, TE Connectivity, MTS Systems, Vishay Intertechnology, Infineon Technologies, STMicroelectronics, Bourns Inc., and Allegro Microsystemsamong others, a total of 10companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Position Sensor Market by Technology

• • Linear
  • Proximity
  • Rotary
  • Others

Global Position Sensor Market by Application

• • Military
  • Aerospace
  • Automotive
  • Electronics
  • Manufacturing
  • Others

Global Position Sensor Market by Region

• • North America Position Sensor Market (Option 1: As a part of the free 25% customization)

    • North America Market by Technology
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Position Sensor Market (Option 2: As a part of the free 25% customization)

    • Europe Market by Technology
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Position Sensor Market(Option 3: As a part of the free 25% customization)

    • Asia-Pacific Market by Technology
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Position Sensor Market (Option 4: As a part of the free 25% customization)

    • RoW Market by Technology
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Position Sensor (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Honeywell
  • SICK AG
  • AMS AG
  • TE Connectivity
  • MTS Systems
  • Vishay Intertechnology
  • Infineon Technologies
  • STMicroelectronics
  • Bourns Inc.
  • Allegro Microsystems