According to the new market research report "Position Sensor Market with COVID-19 Impact Analysis by Type (Linear and Rotary), Application (Machine Tools, Robotics, Motion Systems, Material Handling, TEST Equipment), Contact Type, Output, End-User Industry, and Geography - Global Forecast to 2025" This market is expected to reach from USD 4.7 billion in 2020 to USD 7.3 billion by 2025, at a CAGR of 9.2%. The growth of the position sensor market is driven by factors such as increasing focus of the manufacturing industry on accurate measurements and detailed inspection and growing adoption of position sensors in the aviation and aerospace industry.
Browse 161 market data Tables and 75 Figures spread through 244 Pages and in-depth TOC on "Position Sensor Market with COVID-19 Impact Analysis by Type (Linear and Rotary), Application (Machine Tools, Robotics, Motion Systems, Material Handling, TEST Equipment), Contact Type, Output, End-User Industry, and Geography - Global Forecast to 2025"
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Linear sensor is expected to grow at the highest CAGR during forecast period
The market for linear sensors is expected to grow at a higher CAGR of 9.8% during the forecast period from 2020 to 2025. A linear position sensor is one of the most commonly used sensors for position sensing. Linear displacements can be explained as a movement of an object along a single axis. This type of sensor is used to convert encoded position into analog or digital signals. The linear position sensor is an electronic device used to measure linear position changes relative to a reference position. Linear position sensors are used in various applications and equipment, such as machine tools, measuring and test equipment, automated machinery, robotics, and motion systems. This will result in a higher growth rate of linear sensors than that of rotary position sensors.
Germany to account for the largest size of the Position Sensor System Market during forecast period
In 2019, Germany held the largest share of ~33% of the European position sensor market. Germany is globally recognized for its excellence in manufacturing and is one of the world’s leading hubs for research and innovation. The electronics industry in Germany generated a turnover of USD 200 billion in 2015. Implementation of Industry 4.0 principles by country’s manufacturing sector is expected to support the adoption of positions sensors for automation. Currently, the electronics industry in this country is focused on automotive and industrial electronics, smart manufacturing, and e-mobility. Automotive is the most thriving industry in Germany. Companies such as BMW (Munich), Volkswagen (Wolfsburg), and Daimler (Stuttgart) are the leading manufacturers and exporters of luxury cars in the world. Automotive is one of the largest end-user industries for position sensors. Moreover, the presence of key position sensor providers such as Infineon Technologies, Dr. Johannes Heidenhain, and Hans Turck GmbH will also contribute to the market’s growth.
The report profiles the most promising players in the Position Sensor Market. The markets competitive landscape presents an interesting picture of strategies adopted by many players. Honeywell (US), SICK AG (Germany), ams AG (Austria), TE Connectivity (Switzerland), MTS Systems (US), Vishay (US), Infineon Technologies (Germany), and so on are few dominant players in the Position Sensor Market.
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