The global position sensor market is projected to reach $8.5 billion by 2028, at a CAGR of 9.3% during 2023-2028. The growth of position sensor market is driven by growing adoption of position sensors in the industrial plants, and increasing usage of integrated control systems in consumer electronic devices.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the position sensor market by technology (photoelectric, linear, proximity, rotary, and others), end use industry (automotive, military & aerospace, electronics & semiconductors, packaging, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the position sensor market?
Q.4 What are some changing demands of customers in the position sensor market?
Q.5 What are the new developments in the position sensor market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this position sensor area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this position sensor market?
Market Segmentation:
Based on technology, the position sensor market is segmented into photoelectric, linear, proximity, rotary, and others. The photoelectric segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the increasing use of these sensors in production line equipment to collect sensor-based data.
APAC will remain the largest region due to the rising demand for affordable high-quality sensors among various end use industries like automotive and aerospace and growing requirement for advanced machinery tools in China.
Key Players in the position sensor market are Balluff GmbH, Banner Engineering, Bourns, CTS, Heidenhain, and Honeywell.
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Roy AlmaguerLucintel Dallas, Texas, USA Email: [email protected] Tel. 972.636.5056
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