The global position sensors market size is expected to reach USD 10.43 billion by 2030, registering a CAGR of 7.1% during the forecast period. Increasing demand for electronics and sensor systems in automobiles is expected to augment demand. Factors such as the need for contactless technologies, requirement for lower CO2 emissions, and improvement in reliability and precision are expected to trigger demand over the forecast period.
Increasing requirement of accurate sensor performance for detection of reflective objects and signaling the position of moving components in semiconductor and electronics industry is expected to boost the sensor demand over next seven years.
Increased awareness regarding vehicle safety and technological advancements are anticipated to drive the global demand for position sensor market. Escalating demand for navigation and GPS-enabled wearable devices and smartphones is expected to further entice growth.
Growing requirement of time-proven positioning sensing technology and highly customized solutions for mission critical needs in military and aerospace applications is anticipated to augment the demand for these sensors. Stringent vehicle emission regulations in several countries worldwide are encouraging the adoption across various verticals.
However, lack of product differentiation is expected to challenge industry growth. A large number of players offer products based on similar technological foundation. This propels industry players to compete with large manufacturers for high-volume contracts and is thus exposed to corresponding pricing pressure.
In this price sensitive market, it has been a difficult task for these manufacturers to differentiate their products with any factor other than price.Extensive R&D investment in order to obtain competitive advantage is also expected to result in frequent strategic alliances and acquisitions.
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Increasing requirement of accurate sensor performance for detection of reflective objects and signaling the position of moving components in semiconductor and electronics industry is expected to boost the sensor demand over next seven years.
Increased awareness regarding vehicle safety and technological advancements are anticipated to drive the global demand for position sensor market. Escalating demand for navigation and GPS-enabled wearable devices and smartphones is expected to further entice growth.
Growing requirement of time-proven positioning sensing technology and highly customized solutions for mission critical needs in military and aerospace applications is anticipated to augment the demand for these sensors. Stringent vehicle emission regulations in several countries worldwide are encouraging the adoption across various verticals.
However, lack of product differentiation is expected to challenge industry growth. A large number of players offer products based on similar technological foundation. This propels industry players to compete with large manufacturers for high-volume contracts and is thus exposed to corresponding pricing pressure.
In this price sensitive market, it has been a difficult task for these manufacturers to differentiate their products with any factor other than price.Extensive R&D investment in order to obtain competitive advantage is also expected to result in frequent strategic alliances and acquisitions.
Position Sensors Market Report Highlights
- Proximity sensor was valued at over USD 6.50 billion in 2023 and is expected to remain a major segment over the forecast period. Applications of proximity sensors include position, detection, inspection, and counting on automated machines and manufacturing systems. They are also used in machine vibration monitoring to measure variations in distance between a shaft and its support bearing.
- Photoelectric sensors industry is expected to grow at a CAGR of 8.3% during the forecast period, owing to increased adoption of automation in process, automotive, and food & beverage industries
- Packaging application is expected to grow at a fastest CAGR over the forecast period. This can be primarily attributed to increasing adoption of sensors in automation to improve performance and reliability. Position sensors in packaging are used for monitoring the position of a moving machine part, detecting the location of label applicator, and end point detection of mechanical part.
- The Asia Pacific position sensors industry is expected to grow at a fastest CAGR over the forecast period, owing to strong demand for high quality precision equipment and consumer electronics demand.
The leading players in the Position Sensors market include:
- Honeywell International Inc.
- TE Connectivity
- SICK AG
- ams-OSRAM AG.
- MTS System
- Infineon Technologies AG
- STMicroelectronics
- Balluff Inc
- Vishay Intertechnology Inc
- Baumer
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Position Sensors Market Variables, Trends, & Scope
Chapter 4. Global Position Sensors Market: Application Estimates & Trend Analysis
Chapter 5. Global Position Sensors Market: End Use Estimates & Trend Analysis
Chapter 6. Global Position Sensors Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
The leading players in the Position Sensors market include:- Honeywell International Inc.
- TE Connectivity
- SICK AG
- ams-OSRAM AG.
- MTS System
- Infineon Technologies AG
- STMicroelectronics
- Balluff Inc
- Vishay Intertechnology Inc
- Baumer
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 6.5 Billion |
| Forecasted Market Value ( USD | $ 10.43 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
