Home › News Updates › Zacks cites MarketsandMarkets for Position Sensor Market in an article on IDT’s tie-up with Thetasys
Zacks named MarketsandMarkets as a key reference for the global position sensor market in an article on IDT’s tie-up with Thetasys for strengthening their sensor portfolio.
Position sensors are basically used in determining how far the target object has moved, which in turn can be used to determine the efficiency of a device, thus leading to a high adoption in automotive and aerospace industries. The global position sensor market is expected to reach a value of USD 5.98 billion by 2022, growing at a CAGR of 6.27% from 2017 to 2022, owing to the increasing investment in manufacturing infrastructure, integration of position sensors in modern automobiles, and growing adoption of position sensors in the aviation and aerospace industry.
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Report mentioned in the above news is,
Position Sensor Market by Type (Linear and Rotary), Contact Type (Contact and Non-Contact) Output (Analog and Digital), Application (Machine Tools, Robotics, Motion Systems, Material Handling), Industry, and Geography - Global Forecast to 2022.
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