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Mar 12, 2020 2:15 PM ET

Global Position Sensor Market is Expected to Reach USD 7.8 Billion by 2025, Observing a CAGR of 8.3% during 2020–2025

iCrowd Newswire - Mar 12, 2020

The global position sensor market is expected to reach USD 7.8 billion by 2025, growing at a CAGR of 8.3% during the forecast period.

Industry Insights by Type (Linear Sensor and Rotary Sensor), by Application (Machine Tools, Robotics, Motion Systems, Material Handling, and Test Equipment), by Contact Type (Contact and Non-Contact), by End-User Industry (Manufacturing, Automotive, Aviation & Aerospace, Electronics, Healthcare, and Others)

Increasing demand for automation in manufacturing, as well as other industries in the years to come, will boost the demand of position sensors. Industrial robotics adoption requires use of large number of sensors including position sensor for better performance. This will act as an opportunity for the global position sensor market in near future.  

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Manufacturing sector segment held the largest share in the position sensor market in 2019

On the basis of end-user industry, the market is segmented into manufacturing, automotive, aviation & aerospace, electronics, healthcare, and others. Manufacturing sector is expected to account the highest market share in current year. However, automotive and consumer electronics are industries expected to grow at the fastest rate during the forecast period.

Geography Insight

Geographically, Europe is the largest position sensor market with large number of robotics integration in the manufacturing industry. Besides, the region is home to some of the major automotive manufacturers, this will further up surge the growth of the position sensor market in years to come.

Competitive Insight

Some of the key players operating in the global position sensor market are Honeywell International Inc., SICK AG, ARMS AG, TE Connectivity Ltd., MTS Systems, Vishay Intertechnology, Inc., Infineon Technologies, STMicroelectronics, Bourns, Inc., and Allegro MicroSystems, LLC.

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About VynZ Research

VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, and market shares and anticipated new trends & technologies arising across wide range of industries.

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VynZ Research
Call: +91-996-028-8381
Toll Free (U.S. and Canada): +1-888-253-3960
Email: [email protected]

Keywords:    Position Sensor Market, Position Sensor Market Size, Position Sensor, Position Sensor Market Growth, Position Sensor Market Forecast

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