Position Sensor Market Size by 2027: Global Share, Regional Analysis and Recent Developments

A position sensor is a device utilized for position measurement where displacement, distance, position, or length measurements are used to automate, test, or monitor processes. It can either be an absolute position sensor or a relative one (displacement sensor). They are widely used in computer game joysticks, computer hard drives & CD/DVD drives, steering wheels, industrial, and robotics among others. The evolving drift towards automation of processing systems in industries results in high demand for position sensors. Position sensors are applicable in a wide array of automotive and industrial applications including steering wheel position sensing, float-level sensing, and transmission gearbox encoder.

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The basic principles of position sensor operation have transformed over the years. The market for these sensors is driven by smaller form factor, less power consumption, higher feature integration, and low cost. Currently, significant investments in R&D by key players have helped to develop smart and intelligent sensor systems for different novel applications in automotive, aerospace & defense, electronics, and healthcare. For instance, in 2016, Balluff announced to launch Micropulse hazardous area linear position sensor, which offers new features such as non-contact, wear-free, magnetostriction technology for long-term reliability, and better performance. Honeywell International offers a broad range of smart position sensors that provide non-contact angular position sensing. In 2016-year end, the company announced that it will be providing tactical advanced land inertial navigator (TALIN), which will be fitted on the Polish Armed Forces command vehicles.

The global position sensor market is segmented on the basis of technology, industry vertical, and geography. Based on technology, it is divided into photoelectric, rotary, linear, proximity, and others. The market by industry comprises automotive, aerospace & defense, electronics, healthcare, manufacturing & packaging, and others. Furthermore, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in this market are Sensata Technologies, Inc., Honeywell International, Inc., Sick AG, Heidenhain Corporation, Ametek Inc., Balluff Inc., Emerson Electric Co., Hans TURCK GmbH & Co. KG, MTS System Corporation, and TE Connectivity Ltd. Among others.

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POTENTIAL BENEFITS FOR STAKEHOLDERS:
o This report provides an in-depth analysis of the world position sensor market to identify lucrative investment pockets.
o This report identifies the key drivers, opportunities, and restraints that have an impact on the market.
o Porters Five Forces analysis highlights the potency of buyers and suppliers. This would further offer a competitive advantage to stakeholders to take profitable business decisions, thereby helping them to strengthen their supplier and buyer networks.
o Current and future trends are outlined to determine the overall market potential and highlight the profitable trends to gain a stronger foothold.
o Market estimation of geographic segments is derived from the current scenario and expected trends.

Position Sensor Market Key Segmentation:
By Technology
o Photoelectric
o Rotary
o Linear
o Proximity
o Others

By Industry
o Automotive
o Aerospace & Defense
o Electronics
o Healthcare
o Manufacturing & Packaging
o Others

Key Players
o Sensata Technologies, Inc.
o Honeywell International, Inc.
o Sick AG
o Heidenhain Corporation
o Ametek Inc.
o Balluff Inc.
o Emerson Electric Co.
o Hans TURCK GmbH & Co. KG
o TE Connectivity Ltd.
o MTS System Corporation

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