Global Position Sensor Market – Analysis and Forecast (2019-2025)
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. The global position sensor is an engrained market, growing at a noteworthy rate due to its rising application in manufacturing industry with demand for error-free measurements and thorough inspection. Further, position sensors adoption in the aviation and aerospace industry is also rising at fast pace. Automotive is another large segment were position sensors are used in huge quantity. This as a result will boost the demand for position sensor in multiple industry verticals. Download Free Report Sample At: https://www.vynzresearch.com/semiconductor-electronics/position-sensor-market/request-sample Now a dayu2019s multiple sensor types are used in product to enhance their functioning and get more accurate results. Position sensor is used in a device to measure the distance traveled by a device from a certain reference position. The sensor measures both linear as well as angular position. Also, the sensor can be used to sense the presence or absence of an entity. There is a constant increase in the number of sensors integration in manufacturing sector in order to achieve better performance and error-free results. Position sensors are used primarily to attain precise measurements and through inspection. Besides, the sensors are also used in large scale in aviation and aerospace industry for accurate distance measurement. High cost of ownership of position sensors may obstruct the growth of the sensor market in several industries such as consumer electronics, processing industry and so on. 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. Further, North America and APAC hold the second and third largest position sensor market share respectively, due to the growing automotive production, and the increasing deployment of robotics in industries, this as result is also creating a positive impact on the position sensor market growth globally. Read More: https://www.vynzresearch.com/semiconductor-electronics/position-sensor-market Key players in the in the position sensor market are regularly focusing on new product development and existing product enhancement to sustain and grow in the market. Further, merger & acquisition are other key strategies adopted by the players in the ecosystem. For instance, in January 2020, HLD Europe, an investment holding firm with 12 companies in Europe acquired Exxelia, the Europe based manufacturer of high reliability passive components and electromechanical systems to enhance its product portfolio and global each Some of the key players operating in the 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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