PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388796
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388796
Position sensors are devices that can detect the object's movement and translate these into signals suitable for control, processing, or transmission. These sensors can be used to detect the object's absence or presence and its relative position measured from a reference point. Inductive position sensors, potentiometric position sensors, hall effect-based magnetic position sensors, eddy current-based position sensors, and capacitive position sensors, are a few primary types of position sensors.
The increased usage of integrated management systems in consumer electronics devices, which include tablets and smartphones, is expected to provide attractive development possibilities throughout the projected period. Position sensors are in high demand due to the increasing prevalence of plant management in process industries. Stringent emission rules enacted in various countries have enabled the adoption of rotational and linear position sensors. Furthermore, these sensors are critical in ensuring that vehicles comply with the prescribed emission riders. Because of continued scientific improvements in optical position sensors, the market is expected to increase. This technique assists in the creation of smaller, more efficient chipset modules with additional capabilities. Furthermore, escalating requirements for the implementation of high-speed precision control and measurement of the machines in industrial operations are predicted to offer new growth avenues. It is attributed that the development of advanced driver assistance systems through the expansion of active vehicle safety is estimated to augment industry growth. However, price fluctuations for raw materials could be a major restrain for the market growth.
Industrial manufacturers in numerous regions are predominantly investing to upgrade their manufacturing infrastructure with the use of fully automated machine tools. The tendencies of manufacturers toward automation have flourished the growth of the position sensor market.
The global position sensors market is segmented on the basis of technology, output, contact type, end user, and region.
The market is divided into four categories based on technology: proximity, photoelectric, rotary, linear, and others. The photoelectric segment is likely to maintain its dominance over the forecast period. Increasing demand for information-based manufacturing and sensor-based data from production line machinery is predicted to propel the demand for photoelectric sensors. Moreover, proximity sensors are accounted to emerge as a promising segment due to the high adoption of proximity sensors in smartphones to identify accidental touchscreen taps. Additionally, in automation, proximity sensors have become essential data acquisition devices to give information in the form of individual process variables to controllers.
The market is divided into six categories based on end-users: automotive, electronics, aerospace, packaging, manufacturing, healthcare, and others. The automotive segment is accounted to witness the highest growth rate over the forecast period. The segment growth is attributed to the increasing requirement for position sensing in automatic throttle controlling, gear selection, managing vehicle stability, and steering wheel position.
By regional analysis, the position sensors market can be segmented into North America, Asia Pacific, Europe, and the Rest of the World. The Asia Pacific market is projected to dominate the largest revenue share. Manufacturing activities are being outsourced to low-cost developing nations as there is a significant requirement for high-quality precision sensors and instruments in this region. Tremendous appetite for new machines and robust manufacturing sector development in the market are expected to boost regional growth in the forecast period.
The position sensors company market share across the world is mainly occupied by key competitors. These key players are involved in collectively striving to simplify its integration in various systems and make position sensors a part of varied electronic devices. Moving consumer shift from contact to non-contact position sensing technologies is allowing key players to provide innovative contactless sensors. The market for these sensors is driven by higher feature integration, less power consumption, and a smaller form factor. Markey Player's significant investments in R&D have helped to develop intelligent and smart sensor systems for various novel applications in electronics, automotive, healthcare, and aerospace & defense. For instance, in May 2021, Bourns, Inc. launched Model DMS22B non-contacting feedback rotary sensor that features Synchronous Serial Interface (SSI) output offering effective synchronization in closed-loop control systems.
For instance, in April 2022, Vishay Intertechnology, Inc. recently released an innovative miniature position sensor alongside a small 12.7 mm circumference that provides more detail and accuracy than similar products in the same range of dimensions, as well as better durability and dependability for severe operating conditions in industrial and military settings.
The scope of this report covers the market by its major segments, which include as follows: