Press release
Position Sensor Market Size, Price, Report, Forecast 2024-2032
Position Sensor Market
According to the report by Expert Market Research (EMR), the global position sensor market size grew significantly in 2023. Aided by the rapid technological advancements in the automotive, manufacturing, and healthcare sectors and the increasing application of position sensors in various innovative technologies, the market is projected to grow at a CAGR of 7.1% between 2024 and 2032.
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Position sensors are vital components used to determine the position or distance of an object with respect to a fixed point or reference. They are an integral part of various devices and systems, providing crucial information for controlling and monitoring operations. These sensors find applications across multiple sectors, including automotive, aerospace, healthcare, electronics, and industrial automation, among others.
A significant driver propelling the global position sensor market growth is the increasing integration of these sensors in modern vehicles. As automotive technology marches towards autonomous vehicles, the importance of accurate position sensing becomes paramount. These sensors aid in crucial operations such as advanced driver assistance systems (ADAS), vehicle stability control, and parking assistance, to name a few.
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Moreover, the proliferation of Industry 4.0 and the increasing automation in manufacturing units improve the position sensor market demand. Position sensors play a pivotal role in robotic arms, conveyor systems, and CNC machines, ensuring accuracy and efficiency in production processes. The growth in the industrial sector and the shift towards smart manufacturing is anticipated to fuel the demand for position sensors in the coming years.
In the healthcare sector, position sensors have become an essential component of modern medical equipment. They are integral in devices like infusion pumps, MRI machines, and robotic surgical systems. As healthcare technology becomes more advanced and patient-centric, the requirement for accurate positioning, especially in surgical and diagnostic procedures, becomes crucial, thus driving the demand for sophisticated position sensors.
Furthermore, the global shift towards renewable energy sources, especially wind energy, has influenced the position sensor market outlook. These sensors are vital in wind turbines, helping in blade position monitoring and pitch control. As nations worldwide invest in sustainable energy solutions, the demand for position sensors in such applications is expected to rise.
Position Sensor Market Segmentation
The market can be divided based on type, technology, contact type, output, application, end use, and region.
Market Breakup by Type
Linear Type
Linear Encoders
Linear Variable Differential Transformers
Magnetostrictive Sensors
Linear Potentiometers
Laser Position Sensors
Rotary Position Sensors
Rotary Encoders
Rotary Potentiometers
Rotary Variable Differential Transformers
Resolvers
Others
Market Breakup by Technology
Photoelectric
Rotary
Linear
Proximity
Others
Market Breakup by Contact Type
Non-Contact Type
Contact Type
Market Breakup by Output
Digital Output
Analogue Output
Market Breakup by Application
Machine Tools
Robotics
Motion Systems
Material Handling
Test Equipment
Others
Market Breakup by End Use
Automotive
Aerospace and Defence
Electronics
Healthcare
Manufacturing and Packaging
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global position sensor market. Some of the major players explored in the report by Expert Market Research are as follows:
Honeywell International Inc.
SICK AG
AMS AG
TE Connectivity Corporation
MTS Systems Corporation
Vishay Intertechnology, Inc.
Infineon Technologies
Bourns
Others
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