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Position Sensor Market Segmented By Non-Contact, Magnetic Position Sensors , Inductive Position Sensors, Optical Position Sensors, Capacitive Position Sensors as Technology in Frame and Frameless Construction in Analog and Digital Interface
The position sensors market was valued at US$ 5,432.1 Mn in 2022, and is forecasted to have grown to US$ 15,628.6 Mn by the end of 2033. The market for position sensors is estimated to valuate to US$ 5,899.3 Mn in 2023, and is predicted to grow at a CAGR of 10.2% from 2023 to 2033.
Position sensor is an electronic appliance used to automate, monitor, or evaluation procedure by measuring displacement, distance, location, or length. It computes the body's distance travelled from its initial point. It is employed in a wide range of industry sectors, such as automotive, aviation, manufacturing and health services.
Increasing adoption of integrated monitoring systems in consumer technology gadgets such as smartphones and laptops are expected to support the growth of the position sensors market during the forecast period of 2023-2033.
Position sensors are widely employed in computer game steering wheels, hard disk drives and CD/DVD drives, gear boxes, joysticks and in manufacturing & robotics. Additionally, position sensors are in high demands attributed to the increasing industrial automation along with that position sensors can be used in a variety of automotive & industrial applications leading to their increased adoption.
Such factors are providing lucrative environment for the adoption of position sensors systems in the coming future.
North American market held the leading market share of 27.5% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period, this is followed by Europe that held the market share of 22.1% for 2022.
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Position Sensors Market Size (2023) |
US$ 5,899.3 Mn |
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Projected Market Value (2033) |
US$ 15,628.6 Mn |
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Global Market Growth Rate (2023-2033) |
10.2% |
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Contact Position Sensors Segment Market Share (2022) |
53.7% |
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India Market Growth Rate (2022) |
12.3% |
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Digital Position Sensors Segment Market Share (2022) |
56.5% |
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“High Cost of Production of Position Sensors”
The production of the position sensor is very expensive. Product profitability is determined by the availability and cost of components and raw materials as well as the time required to launch the final product into the market. The major challenges that companies facing is the high competition & rising demands lowering overall production costs without compromising with the quality.
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The adoption of position sensors in US is expected to be facilitated by the increasing automation in the manufacturing sector, implementation of Industry 4.0 principles and so on. Additionally the presence of the major market players namely Honeywell & Gill Sensors & Controls Limited are providing lucrative opportunity for the expansion of the position sensors market.
Due to these factors, US region is analyzed to dominate the global position sensors market with the share of 18.2% in 2022.
“Rising Trend Towards Luxury Vehicles &E-Mobility”
This market growth can be attributed to the various factors such as rising demand for luxury cars together with the increasing advancements in the electronics industry and so on. Additionally, rising demand in the automotive & industrial electronics, smart manufacturing, and e-mobility are some of the major factors anticipated to positively impact the region's position sensors market growth.
Due to these factors the position sensors market is estimated to grow at a CAGR of 12.3% over the forecast period in India.
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“Presence of Major End User Companies in European Region”
Germany is one of the most economically significant country in Europe which holds the market share of 12.1% in the European position sensors market, owing to the presence of the major end user industries like BMW (Munich), Volkswagen (Wolfsburg), Daimler (Stuttgart) and so on.
Additionally, the presence of key position sensor provider companies namely Infineon Technologies, Dr. Johannes Heidenhain and Hans Turck GmbH are all the major factors behind the significant market share of Europe of 22.1% in the position sensors market.
Why Contact Segment by Technology have the Larger Market Share in the Position Sensors Market?
Contact segment are analyzed to dominate the position sensors market with the share of 53.7% owing to the factors such as contact position sensors provide high level of accuracy & ensure detectability on almost all surfaces.
Additionally, they are cheap as compared to the non-contact position sensors segments and have wide range of applications in various industry verticals.
Why Digital Interface in Position Sensors Market Holds the largest market share in 2022?
Based on the interface the share of digital position sensors holds the largest share of 56.5% in 2022, attributed to factors such as their widespread use in the production of high-volume, low-cost, and small-size devices. It has a potentiometer, voltage, current, or incremental encoder in its signal output and provides low-cost customer-specific versions.
Major position sensors companies are influenced by the market trend of the growth in EV vehicles and devices that require the use of position sensors.
Recent developments related to key players providing position sensors market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Interface
By Diameter
By Industry
By Region:
In 2022, the market value of position sensors was US$ 5,432.1Mn.
The global position sensors market is estimated to advance at a 10.2% CAGR through 2033.
The market for position sensors is forecasted to climb to US$ 15,628.6 Mn by 2033 end.
Demand for position sensors market in India is projected to rise at a CAGR of 12.3% over the forecast period.
In 2022, the North America position sensors market held a dominant market share of 27.5%.
