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Position Sensor Market: by Forecast to 2027
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Market Highlights
The global position sensor market spans across North America, Europe, Asia-Pacific, the rest of the world.
A position sensor is a device that can detect the movement of an object and converts these into signals suitable for processing, transmission, or control. Position sensors are used in a wide range of automation and measurement applications. A key step in selecting a suitable position sensor is understanding the requirements of sensor size, resolution, repeatability, accuracy, mounting constraints and environmental ruggedness. This paper discusses the available position sensing technologies and concludes with a key feature comparison. It enables applications including the manufacturing, automotive, aerospace, packaging, healthcare, electronics, and others industry. Position Sensors detect the position of which means they are referenced to or from a fixed point or position. Positional feedback is provided by these sensors. The method of deciding a location is to use either "distance," which can be the distance between two points such as the distance travelled or moved away from a fixed point, or "rotation," which is the distance between two points such as the distance travelled or moved away from a fixed point.
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The geographic analysis of the position sensor market has been done for North America, Europe, Asia-Pacific, the rest of the world. Europe accounted for the largest market share of 38.34% in 2019, with a market value of USD 1,933.5 million; it is expected to register a CAGR of 8.41% during the forecast period. North America was the second-largest market in 2019, valued at USD 1,246.5 million; it is projected to exhibit a CAGR of 5.61%. However, Asia-Pacific is expected to register the highest CAGR of 11.66%
In Europe, the Rest of Europe accounted for the largest market share in 2019. There is a presence of various industries across different countries in the region. Based on the country, the rest of Europe has been segmented into Finland, Scotland, the Netherlands, Belgium, and others. The presence of automotive, pharmaceuticals, food processing, mining, and other industries in the region is propelling the growth of the position sensor market. Additionally, the adoption of automation in various countries is also contributing to the growth of the market. North America is expected to register steady growth in the position sensor market during the forecast period owing to the increasing adoption of position sensor in various sectors. The region, by country, has been segmented into the US, Canada, and Mexico. Asia-Pacific has the highest CAGR of 11.66% for the position sensor market based on the region due to growing industrial sector combined with an increasing presence of small and medium-sized enterprises (SMEs) in the region is some of the factors that are expected to drive the market growth. The growing use of consumer electronics and the increase in demand for position sensors in industrial manufacturing, automobiles, and pharmaceutical manufacturing has increased the demand for position sensors. Increasing awareness about accurate measurements and detailed inspections in the region contributes to the proximity sensor market's growth. Consumers in China, India, Japan, South Korea, Singapore, Taiwan, and other countries in the region. Additionally, growing investments by key market players operating in this region significantly contribute towards the market growth. Furthermore, the economical growth of several countries such as China in the region stimulates market growth. The rest of the world held the fourth position in terms of market share in 2019. The market growth in this region is currently stagnant due to the presence of emerging economies. The region has been segmented into the Middle East & Africa and South America.
Sample the market data and market information presented through more than 30 market data tables and figures spread over 146 numbers of pages of the project report. Avail of the in-depth table of contents TOC & market synopsis on “The Global Position Sensor Market Research Report—Forecast till 2026”.
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Global Position Sensor Market: Segmentation
The global position sensor market has been segmented based on type, contact type, output, industry, and region. Based on type, the global market has been segmented into rotatory sensor and linear sensor. Based on contact type, the market has been segmented into contact and non-contact. Based on output, the market has been segmented into analog and digital. Based on industry, the market has been divided into manufacturing, automotive, aerospace, packaging, healthcare, electronics, and others.
The key players of the global Position Sensor market are AMS AG, MTS Systems Corporation, Renishaw plc, Allegro Microsystems Inc., TE Connectivity Ltd., Honeywell International Inc., Panasonic Corporation, Vishay Intertechnology Inc., Infineon Technologies AG, STMicroelectronics N.V., and Qualcomm Technologies Inc, and among others.
Market Research Future Analysis
The global position sensor market is expected to grow significantly over the forecast period, 2016-2022 majorly due to adoption of new technological solutions. The market is highly application basis. Automobile segment of position sensor market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
European region accounted for the largest market share because of technological advancements, increasing demand by various sectors, large investments by automobile manufacturers for implementing position sensor and strict laws for implementing linear position sensor in the European countries.
However, Asia-Pacific region is expected to grow over the forecast period, 2016-2022 because of being the manufacturing hub and increasing focus by manufacturers to implement position sensor in various sectors.Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.
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