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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.
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.
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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