NEW DELHI, Aug. 20, 2019 /PRNewswire/ -- According to a new report Global Position Sensor Market, published by KBV research, The Global Position Sensor Market size is expected to reach $8 billion by 2025, rising at a market growth of 8.6% CAGR during the forecast period.
The Europe market dominated the Global Digital Position Sensor Market by Region 2018, growing at a CAGR of 8.8 % during the forecast period. The North America market is expected to witness a CAGR of 8.9% during (2019 - 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 10.6% during (2019 - 2025). The huge population of this region has increased investments in R&D investments, also, the manufacturing and electronics sector is expanding, which will eventually drive the growth of the Position Sensors market. In the APAC countries, cost-effective and efficient Position Sensors have observed a rising demand from the automotive, electronics, medical and healthcare, manufacturing, and packaging industries. This growing demand is expected to propel the growth of the Position Sensors market in APAC.
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The Machine Tools market dominated the Global Position Sensor Market by Application 2018, growing at a CAGR of 7.4 % during the forecast period. The Test Equipment market is expected to witness a CAGR of 7.8% during (2019 - 2025). Additionally, The Motion Systems market is expected to witness highest CAGR of 9.2% during (2019 - 2025).
The Manufacturing market dominated the Global Position Sensor Market by End User 2018, growing at a CAGR of 7.3 % during the forecast period. The Automotive market is expected to witness a CAGR of 9.1% during (2019 - 2025). The automotive industry has grown at a rapid pace due to the extensive adoption of Position Sensors to measure the distance between two moving objects. The different types of Position Sensors used in the automotive industry include resistance-based sensors, linear voltage sensors, optical Position Sensors, etc. The wide-scale adoption can be largely attributed to the increasing adoption of new technologies like integrated control system for consumer electronics, the growing demand for plant automation, and high investments by manufacturers. The Aerospace market is expected to witness a CAGR of 10.6% during (2019 - 2025). Additionally, The Packaging market is expected to witness highest CAGR of 9.8% during (2019 - 2025).
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The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Sick AG, Balluff GmbH, Honeywell International, Inc., NXP Semiconductors N.V., STMicroelectronics N.V., Denso Corporation, Emerson Electric Co., Continental AG, ZF Friedrichshafen AG and Infineon Technologies AG.
Global Position Sensor Market Segmentation
By Type
By Application
- Machine Tools
- Test Equipment
- Motion Systems
- Material Handling
- Robotics
- Others
By Contact Type
- Non-Contact Type
- Contact Type
By Output
By End User
- Manufacturing
- Automotive
- Aerospace
- Packaging
- Healthcare
- Consumer Electronics
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Sick AG
- Balluff GmbH
- Honeywell International, Inc.
- NXP Semiconductors N.V.
- STMicroelectronics N.V.
- Denso Corporation
- Emerson Electric Co.
- Continental AG
- ZF Friedrichshafen AG
- Infineon Technologies AG
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- Highest number of market tables and figures
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