Position Sensor Market Size, Share, Trends, Growth and Forecast 2032

Global Position Sensor Market Size: Overview

The global Position Sensor Market size was worth around USD 6.66 Billion in 2023 and is predicted to grow to around USD 16.08 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.29% between 2024 and 2032.

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Position Sensor is a sensor, used to detect the object’s movement & convert it into signals that are suitable for transmission, control, or processing. The sensors are normally used for measuring the distance of the body from a reference position. So, it detects how far the body has moved from one position to another, and the output is frequently used as feedback to the control system to take appropriate action. Smart position sensors are trending across the globe on account of their non-contact-sensing nature, which allows them to calibrate motion, and be used in demand settings, such as in the aerospace and healthcare sectors. With time, key players in the position sensor industry have started laughing at advanced variants.

The growing demand for the automotive industry is expected to propel the growth going advancing of the position sensors market. The automotive industry refers to the collection of companies, organizations, and activities involved in the design, development, manufacturing, marketing, sale, and maintenance of motor vehicles. Position sensors are widely use in the automotive industry for various applications owing to their ability to measure the position or movement of components and provide critical data for the proper functioning of vehicle systems. Agriculture 4.0, a term coined at the World Government Summit in the form of smart agricultural practices and precision farming, is increasingly driving the position sensor market globally. Position sensor also gains awareness, and sensors are used for generating real-time information after the analysis of the data and causing the corresponding changes in the application rate. Conventional models of the utilization of a map-based approach are considered to be more productive.

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Position Sensor Market: Segmentation

The study provides a crucial view of the position sensor market by segmenting the market based on type, contact type, output, application, end-user, and region. The segments are analyzed based on current and future trends, estimated from 2018 to 2025. The type segment has been fragmented into rotary position sensors, linear type, proximity sensors, displacement sensors, 3D sensors, and others. On the basis of the contact type, the market has been segregated into contact and non-contact. Moreover, the output segment covers analog output and digital output. The applications included in the market are robotics, machine tools, material handling, motion systems, test equipment, and others.

Challenges and Opportunities in Position Sensor Manufacturing for Increased Capacity

Assembling or manufacturing a position sensor is done using numerous components, such as sensing rods, diagnostic light-emitting diodes (LEDs), position magnets, electronics housing fixtures, and connectors; which are delivered by various vendors. Thereby, high costs are associated with the manufacturing of the position sensor. The product profitability depends on the availability and cost of raw materials and components along with the time consumed till the launch of the end product in the market. Increasing manufacturing capabilities, providing improved quality products, and reducing the overall cost of production are the major challenges faced by the companies functioning in this segment. Increasing manufacturing capacity, producing better products, and reducing overall production costs are the key challenges, facing the position sensor market. A wide range of manufacturing from various industries and locales are investing heavily in bolstering their production infrastructure using fully automated machine tools, which is driving up demand for position sensors.

The end-users include aerospace, automotive, electronics, healthcare, manufacturing, packaging, and others. The regional module comprises the current and forecast demand for Middle East & Africa, North America, Asia Pacific, Latin America and Europe for position sensor market with further bifurcation including U.S., Canada, Mexico, UK, France, Germany, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Argentina, UAE, Saudi Arabia, and South Africa among others.

Position Sensor Market: Report Scope

Position Sensor Market: Competitive players

The competitive profiling of noticeable players of position sensor market includes company and financial overview, business strategies adopted by them, their recent developments and product offered by them which can help in assessing competition in the market. Noticeable players included in the report are Honeywell, AMS AG, SICK AG, MTS Systems, TE Connectivity, Infineon Technologies, Vishay, Bourns, ST Microelectronics and Allegro MicroSystems among others. These players are undertaking strategic initiatives such as partnerships, distribution alliances, mergers, and acquisitions to consolidate their position in the market.

The report segment of the global position sensor market as follows:

Global Position Sensor Market: Type Segment Analysis

• Rotary Position Sensors
• Linear Type
• Proximity Sensors
• Displacement Sensors
• 3D Sensors
• Others

 Global Position Sensor Market: Contact Type Segment Analysis

• Contact
• Non-Contact

Global Position Sensor Market: Output Segment Analysis

• Analog Output
• Digital Output

Global Position Sensor Market: Application Segment Analysis

• Robotics
• Machine Tools
• Material Handling
• Motion Systems
• Test Equipment
• Others

Global Position Sensor Market: End-User Segment Analysis

• Aerospace
• Automotive
• Electronics
• Healthcare
• Manufacturing
• Packaging
• Others

Global Position Sensor Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa