Global Position Sensor Market Research Report (2018 to 2024) - CAGR of 7.7% is Predicted During the Forecast Period - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 4, 2020--
The “Position Sensor Market Research Report: By Type, Contact Type, Industry, Geographical Outlook - Global Industry Analysis and Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
From valuing $9.1 billion in 2018, the global position sensor market is predicted to amass $14.2 billion by 2024, registering a 7.7% CAGR during the forecast period (2019-2024).
The market is witnessing growth due to the growing use of position sensors in automobiles and flourishing packaging industry. Position sensors are devices that are used for the measurement of the distance traveled by an object from its initial position. These sensors measure the linear or angular position with respect to a fixed or an arbitrary reference point.
Based on type, the position sensor market is bifurcated into linear and rotary. In 2018, the larger revenue share in the market was held by rotary type position sensors. This was attributed to the use of these sensors in numerous applications, such as throttle position control, pedal position, and in various consumer electronics.
The linear type position sensors are expected to register a faster growth in the forecast period, due to their rising demand for use in critical applications in the manufacturing and aerospace industries, where accurate measurement is extremely important.
In 2018, the largest revenue share in the market was held by the linear potentiometer classification. As compared to other type of position sensors, the linear ones are cheaper and more thermally stable. In the forecast period, the highest CAGR is expected to be registered by the laser sensor classification, as they are witnessing a high demand from electronics, manufacturing, and aerospace industries.
The categories of the position sensor market based on contact type are non-contact and contact. Between the two, the higher revenue share in the market was generated by the contact category in 2018. The demand for these sensors has been high in developing countries, such as Indonesia, India, and China, as they are cheaper than their non-contact counterparts.
In the forecast period, the faster growth is predicted to be witnessed by the non-contact category due to the rising demand for accuracy while measuring, with resolution up to sub-micron and nanometer levels.
One of the driving factors of the position sensor market is the rising use of these sensors in automobiles. Position sensors are used in pedal positioning, sensing steering angle, in clutch plates, and other applications. Additionally, position sensors are also used in parking assistance systems and hybrid engines to ensure their proper functioning.
Besides, the growing automobile sales, the rising focus on vehicle safety is also adding to the demand for position sensors. For instance, the European Union has mandated the inclusion of advanced emergency braking system and electronic stability control in vehicles.
Therefore, the market for position sensors is set to experience remarkable growth in the forecast period with the increasing demand for safer vehicles.
Key Topics Covered:
1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
3. Executive Summary
4.1 Definition of Market Segments
4.1.1 By Type
18.104.22.168.1 Linear potentiometer
22.214.171.124.2 Magnetostrictive sensor
126.96.36.199.3 Laser sensor
188.8.131.52.4 Linear encoder
184.108.40.206.1 Rotary potentiometer
220.127.116.11.4 Rotary encoder
4.1.2 By Contact Type
4.1.3 By Industry
18.104.22.168 Consumer electronics
4.2 Value Chain Analysis
4.3 Market Dynamics
4.4 Porter’s Five Forces Analysis
5. Global Market Size and Forecast
5.1 By Type
5.2 By Contact Type
5.3 By Industry
5.4 By Region
6. North America Market Size and Forecast
7. Europe Market Size and Forecast
8. APAC Market Size and Forecast
9. LATAM Market Size and Forecast
10. MEA Market Size and Forecast
11. Competitive Landscape
11.1 List of Key Players and Their Offerings
11.2 Market Share Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Strategic Developments of Key Players
12. Company Profiles
12.1 TE Connectivity Ltd.
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 ams AG
12.3 SICK AG
12.4 Honeywell International Inc.
12.5 MTS Systems Corporation
12.6 Infineon Technologies AG
12.7 Sensata Technologies Holding plc
12.8 Bourns Inc.
12.9 Renishaw plc
12.10 MEGATRON Elektronik GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/59pek8
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PUB: 02/04/2020 11:54 AM/DISC: 02/04/2020 11:54 AM