Position Sensor Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Position Sensor Market Trends and Forecast

The future of the global position sensor market looks promising with opportunities in the automotive, military & aerospace, electronic & semiconductor, and packaging industries. The global position sensor market is expected to reach an estimated $8.5 billion by 2028 with a CAGR of 9.3% from 2023 to 2028. The major drivers for this market are growing adoption of position sensors in the industrial plants, and increasing usage of integrated control systems in consumer electronic devices.

Position Sensor Market by Technology, and End Use Industry

A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below.

Position Sensor Market by Segments

Position Sensor Market by Segment

The study includes trends and forecast for the global position sensor market by technology, end use industry, and region, as follows:

Position Sensor Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

Photoelectric

Linear

Proximity

Rotary

Others

Position Sensor Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

Automotive

Military & Aerospace

Electronics & Semiconductors

Packaging

Others

Position Sensor Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Position Sensor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies position sensor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the position sensor companies profiled in this report include.

Balluff GmbH

Banner Engineering

Bourns

CTS

Heidenhain

Honeywell

Position Sensor Market Insights

Lucintel forecasts that photoelectric will remain the largest segment over the forecast period due to the increasing use of these sensors in production line equipment to collect sensor-based data.

Automotive is expected to remain the largest segment due to the increasing use of position sensors in automotive components for throttle control, automatic gear selection, steering wheel position detection, and managing vehicle stability.

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.

Features of the Position Sensor Market

Market Size Estimates: Position sensor market size estimation in terms of value ($B)

Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Position sensor market size by various segments, such as by technology, end use industry, and region

Regional Analysis: Position sensor market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different technology, end use industries, and regions for the position sensor market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the position sensor market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the position sensor market size?

Answer: The global position sensor market is expected to reach an estimated $8.5 billion by 2028.

Q2. What is the growth forecast for position sensor market?

Answer: The global position sensor market is expected to grow with a CAGR of 9.3% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the position sensor market?

Answer: The major drivers for this market are growing adoption of position sensors in the industrial plants, and increasing usage of integrated control systems in consumer electronic devices.

Q4. What are the major segments for position sensor market?

Answer: The future of the position sensor market looks promising with opportunities in the automotive, military & aerospace, electronic & semiconductor, and packaging industries. The global position sensor market is expected to reach an estimated $8.5 billion by 2028 with a CAGR of 9.3% from 2023 to 2028.

Q5. Who are the key position sensor companies?

Answer: Some of the key position sensor companies are as follows:

Balluff GmbH

Banner Engineering

Bourns

CTS

Heidenhain

Honeywell

Q6. Which position sensor segment will be the largest in future?

Answer: Lucintel forecasts that photoelectric will remain the largest segment over the forecast period due to the increasing use of these sensors in production line equipment to collect sensor-based data.

Q7. In position sensor market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• 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. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?