Position Sensor Market is Anticipated to Witness High Growth in Revenue from around US$ 4.7 Bn in 2020 to US$ 12.8 Bn by 2031

Position Sensor Market 2022-2031

The global position sensors market is anticipated to expand at close to 10% CAGR throughout the period of 2022 to 2031.

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With growing adoption of advanced solutions and development of new business models after the advent of industry 4.0, countries in Asia Pacific and Europe, such as India, China, Italy, and France, are expected to witness potential growth opportunities.

Also, these regions are witnessing rapid growth in their IT infrastructure and rising penetration of smart devices. Therefore, position sensor manufacturers can focus on expanding their operations to these regional markets in order to reach new growth avenues.

Overall, position sensors are increasingly being implemented across different industry verticals such as aerospace, defense, industrial equipment, medical, and automotive, among others. Industrial equipment industry verticals accounts for more than 28% of the global market share, followed by the automotive industry, accounting for around 25% of the global market share for position sensors.                                                              

Key Players:

The report has profiled some of the Important players prevalent in the global like – TE Connectivity, Honeywell, Althen Sensors, Gill Sensors & Controls Limited, Cambridge Integrated Circuits, Tekscan, Inc., Sensata Technologies, Inc., Bourns, NewTek Sensor Solutions, Novotechnik Inc., Positek Limited, Celera Motion, SIKO, ams AG, KEYENCE Corporation and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Position Sensor.

Key Takeaways from Market Study

North America was the leading market in 2020 in terms of value for position sensors. Over the coming years, South Asia and Pacific is expected to be a key market for sustainable revenue, with rising demand for position sensors from the automotive sector.

The automotive industry is expected to offer higher incremental opportunity during the forecast period, as demand for position sensors is increasing significantly, owing to rise in demand for connected cars and vehicle safety.

There has been rise in demand for position sensors across the aerospace industry.
Digital position sensors hold around two-third of the market share, with the remaining being the analog versions.

With growing adoption of position sensors and services, countries in Western Europe and Asia Pacific such as India, China, Italy, and France are expected to witness high potential growth opportunities.

The market in the U.S. is projected to expand at a CAGR of close to 9% through 2031, while Germany and the U.K. are projected to progress at a CAGR of close to 9% and 12%, respectively.

China is expected to progress at an impressive CAGR of more than 10%, while India is projected to surge ahead at around 14% CAGR through 2031.

“Growing demand for cost-effective and highly efficient position sensors to be witnessed over the coming years,” says a Persistence Market Research analyst.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)

Key Stakeholders 
Position Sensor Market Manufacturers 
Position Sensor Market Distributors/Traders/Wholesalers 
Position Sensor Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Major Highlights of the Position Sensor Market Report:

The Position Sensor Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Position Sensor Market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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