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Position Sensor Market Estimated to Experience a Hike in Growth by 2025
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The growth of Position sensor market is propelled by the increasing adaptation of position sensors in the Aviation industry and increasing demand in the manufacturing industry. Position sensors are used in numerous areas in manufacturing industry including material tracking, transit of final goods, operation efficiency etc. The emerging trend towards plant automation and increased demand for vehicle safety are generating high demand for this market, these sensors ensure Vehicle safety, and thus rise in use of vehicles is projected to fuel the growth of position sensor market and the growth in the Automotive Industry directly translates into increasing demand in the Automotive Position Sensor market. Position sensors in Machine tool application is expected to hold the largest size of the position sensor market during the forecast period. It has been assumed that Increasing integration of position sensors in vehicles portray a positive outlook of continuous growth in the Automotive Position Sensor market.
The key challenge for position sensor market is the Lack of Proper Standards to Measure Performance Indicators. Position sensors are lacking to measure performance of an object with whom the sensors are integrated.
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In May 2015, Dialog Semiconductor, a sensor provider has entered into the partnership with DYNA IMAGE Corporation. This Strategic partnership has to accelerate Dialog’s entrance to China’s fast-growing consumer markets for Position sensors.
Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), ams AG (Germany), Honeywell International, Inc. (US), MTS Systems Corporation (US) Renishaw plc. (UK), Panasonic Corporation (Japan), ,Qualcomm Technologies, Inc. (US), and others.
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