Position Sensor Market
Position Sensor Market is expected to grow from USD 4.40 Billion in 2019 to USD XX Billion by 2026, at a CAGR of XX % between 2019 and 2026. (Detailed analysis of the market CAGR is provided in the report)
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Position Sensor Market
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Position sensor market is segmented on the basis of Type, Contact Type, Output, Application, and Industry. Growth in adoption of wearable medical devices and need for high-performance sensors, growing demand of position sensors in manufacturing of high-tech aerospace and military equipment, increased awareness regarding vehicle safety and technological advancements, increasing demand for measurement and inspection applications in the manufacturing industry, and growing requirement of time-proven positioning sensing technology and highly customized solutions for mission-critical needs in military and aerospace applications are the major factors driving the position sensor market.
However, lacking procedures to measure performance standards of position sensors and lack of product differentiation are the key restraining factors for the market growth.
A position sensor is a device that allows position measurement. It may either be an absolute position sensor or can be a relative one otherwise known as a displacement sensor. Position sensors are linear, angular, or maybe multi-axis. A position sensor is used for measuring the total distance traveled by anybody starting from a reference position. It helps in measuring linear or angular position in comparison to a fixed point or any other arbitrary reference. The sensor can also be used to detect the presence or absence of an object. If the position or proximity information is combined with time measurements, then speed, velocity, and acceleration can be calculated for motion control.
Globally position sensors have large applications across developed and developing economies. The Asia Pacific market command the fastest growth globally for position sensors. It is the utility and application of the position sensors in the manufacturing sector along with the presence of a large number of sensor manufacturers that has resulted in the Asia Pacific forming the largest regional market globally.
Further key findings from the report:
• Position sensor market for robotics application is anticipated to grow at the highest CAGR between 2017 and 2024. Position sensors are used in robotics to obtain position feedback of robot’s moving parts such as the wheel or moving arm. With the increase in use of robots in various industries, demand for position sensors in a robotic industry is expected to increase
• Position sensor market for digital output is anticipated to grow at the highest rate by 2024. A shift of market from analog output to digital output owing to advantages offered by digital output such as less susceptibility to potential interference and higher quality of measurement outputs
• From the application segment, Packaging application to account for the largest share of the position sensor market by 2024 owing to the rising use of sensors in automation in the packaging industry to improve efficiency. Position sensors are useful for detecting the location of label applicator, monitor moving equipment or packages in the packaging industry.
• Among the geographical region, APAC is anticipated to dominate the overall position sensors market between 2017 and 2024 growing at a CAGR of over 6%. Owing to the presence of well-established major market players in APAC countries such as China, and India market for position sensors in this region is expected to witness higher growth rates
Position Sensor Market Key Highlights:
• Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Position Sensor Market
• The objective of the report is to provide a detailed analysis of the Position Sensor Market on the basis of type, contact type, output, application, industry, and geography
• Complete quantitative analysis of the industry from 2017 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Analysis of the Position Sensor Market with respect to individual growth trends, prospects, and contribution to the total market
• Segment wise business performance detailed in report will be worthwhile for the organizations willing to enhance its business
• Provides detailed information regarding the major factors influencing the growth of the Position Sensor Market (drivers, restraints, opportunities, and challenges)
• This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
Position Sensor Market Research Methodology
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get an unbiased idea of the market. This exercise was done at a country level to get a fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at a global market value for Position Sensor Market.
Key Players in the Position Sensor Market Are:
• AMS AG
• MTS Systems Corporation
• Honeywell International, Inc.
• TE Connectivity Ltd.
• Renishaw PLC.
• Vishay Intertechnology, Inc.
• Infineon Technologies AG
• Panasonic Corporation
• STMicroelectronics N.V.
• Qualcomm Technologies, Inc.
• Bourns, Inc.
• Allegro Microsystems, LLC
• Siko GmbH
• Dr. Johannes Heidenhain GmbH
• Novotechnik Messwertaufnehmer Ohg
Position Sensor Market,Key Target Audience:
• Position sensor manufacturers
• Raw material suppliers and distributors
• Position sensor traders/suppliers
• End-users/enterprise-users
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals
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The scope of the Position Sensor Market: Inquire before buying
Research report categorizes the Position Sensor Market based on type, contact type, output, application, industry, and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Position Sensor Market with key developments in companies and market trends.
Position Sensor Market, By Type:
• Rotary Position Sensor
• Linear Position Sensor
Position Sensor Market, By Contact Type:
• Contact
• Non-Contact
Position Sensor Market, By Output:
• Digital
• Analog
Position Sensor Market, by Application:
• Robotics
• Material Handling
• Test Equipment
• Machine Tools
• Motion Systems
• Packaging
Position Sensor Market, By Industry:
• Consumer Electronics
• Automotive
• Healthcare
• Aerospace
• Packaging
• Manufacturing
Position Sensor Market, By Geography:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
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