Global Position Sensor Market

Global Position Sensor Market Size, Share, Growth Analysis, By Technology(Photoelectric, Linear), By Application(Military & Aerospace, Electronics & Semiconductors), By Contact Type(Non-Contact Type, Contact Type), By Output(Digital Output, Analog Output) - Industry Forecast 2022-2028


Report ID: SQSG45I2036 | Region: Global | Published Date: November, 2022 | Pages: 157

Global Position Sensor Market Insights

Global Position Sensor Market size was valued at USD 6.12 billion in 2021 and is expected to reach USD 11.56 billion by 2028, at a CAGR of 9.5% during the forecast period (2022-2028).

A position sensor is a sensor that detects an object's position. A position sensor may indicate the absolute position of the object (its location) or its relative position (displacement) in terms of linear travel, rotational angle or three-dimensional space. The growth adoption of integrated control systems in consumer electronics devices such as smartphones and tablets is expected to offer lucrative growth opportunities over the forecast period. Stringent emission laws legislated in various European countries are encouraging the use of linear and rotary position sensors. These sensors play a crucial role in ensuring vehicle compliance with the slated emission riders. Currently, manufacturers across a broad spectrum of industries, including aerospace, defense, industrial equipment, medical, and automotive, among others, are all increasingly implementing position sensors and other sensing technologies. Demand is expected to increase further with rising need for efficiency, accuracy, and safety. Owing to these factors, demand for position sensors is likely to surge across the globe at an impressive CAGR throughout the forecast period.

Increasing application of position detection in the aerospace industry happens to be one of the major factors driving market growth. There has also been an increase in demand for linear and rotary position sensors across aerospace applications, ranging from large commercial aircraft to military platforms. Post the breakout of the pandemic, end-user industries where position sensors are used have witnessed a decline in their growth from January to May in different countries, including China, Italy, Germany, the UK, the US, Spain, France, and India, owing to halt in operations. This resulted in a significant decline in the revenues of the companies operating in these industries and subsequently in demand for position sensors manufacturers, thereby impacting the growth of the position sensors market in 2020.

Market snapshot

Global Market Size

USD 6.12 billion

Largest Segment

Linear sensor

Fastest Growth

Photoelectric sensors

Growth Rate

9.5% CAGR

Global Position Sensor Market 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Position Sensor Market Size By technology type, 2021-2028 ($ Bn)
Global Position Sensor Market Size By technology type, 2021-2028 (%)

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Global Position Sensor Market Segmental Analysis

Global position sensor market has been segmented based on technology, application, contact type, output, and region. Based on technology, the market is segmented into photoelectric, linear, proximity, rotary, and others. On the basis of application, the market is segmented into military & aerospace, electronics & semiconductors, packaging, and others. Based on contact type, the market is segmented into non-contact type and contact type. Based on output, the market is segmented into digital output and analog output. Based on region, the market is segmented into Asia-Pacific, Europe, North America, Latin America, and Middle East and Africa.

Analysis by Technology

Proximity sensors segment accounted for significant revenue share and is expected to continue to dominate the global market during the forecast period. Photoelectric sensors are expected to be the fastest growing segment over the forecast period. Increase in demand for sensor-based data and information-based manufacturing from production line machinery is expected to augment the demand for photoelectric sensors. Linear and proximity sensors are expected to emerge as a promising segment over the forecast period owing to the wider adoption of proximity sensors in smartphones to detect the accidental touch screen taps. Moreover, proximity sensors have become important data acquisition devices in automation to provide information in the form of individual process variables to controllers. Wide implementation of proximity and linear sensors in packaging machinery to detect the presence and position of various components is estimated to boost the demand for these sensors over the forecast period.

Analysis by Application

The automotive segment accounted significant global revenue share and is expected to continue to be the prevailing segment by 2028. Automotive and electronics & semiconductors sectors are expected to emerge as promising application sectors over the forecast period. Rising need for position sensing in steering wheel position, throttle controlling, automatic gear selection, and managing vehicle stability is expected to drive the demand for automotive applications. The modern aerospace industry requires highly-complex products with an extremely high proportion of electronic components and maximum safety requirements. This has resulted in the demand for complex development and production processes. Such production process requires contactless sensing technology, thereby spurring the demand in the aerospace application.

Global Position Sensor Market By technology type, 2021 (%)

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Global Position Sensor Market Regional Insights

Being a lucrative industry for consumer electronics devices such as smartphones and laptops, as well as a promising regional sector for industrial manufacturing, the Asia Pacific held the largest global position sensor market share in 2021 and will dominate the global position sensor market. Outsourcing of manufacturing activities to low-cost developing countries in Asia is expected to witness strong demand for high-quality precision equipment and sensors in this region. Robust development in the manufacturing sector and tremendous appetite for new machine tools in the Chinese market are expected to boost regional growth over the next seven years. Proximity to the U.S. market and free trade agreements with the U.S., Canada, Japan, and the European Union have propelled the packaging machinery manufacturers to start manufacturing and assembly of components in countries such as Brazil and Mexico. This has resulted in the high adoption of position sensors in the Latin American region. Rising trends towards the adoption of wireless sensor technology are further expected to trigger industry growth in North America and Europe.

Global Position Sensor Market By Geography, 2021-2028
  • Largest
  • Fastest

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Global Position Sensor Market Dynamics

Drivers

  • High accuracy degree is required by all manufacturing industries to match industry standard products in order to provide high quality products, be it electronic or automotive. Position sensors also help to sensor other parameters such as gap, width, profiling, edge, bend, angle, groove, height, surface, and others. Position sensors are suitable for different applications such as heavy-duty machinery, construction equipment, mobile hydraulics, industrial equipment, transportation systems, HVAC systems, and smart buildings. Position sensors are used for monitoring processes, testing, and automating processes, the demand for which will further create new growth opportunities for this market in the coming years as well.
  • High focus of manufacturing industry on accurate measurements and detailed inspection, as the manufacturing industry requires a high degree of accuracy to comply with industry standards. Manufacturers focus on 2 important parameters to produce high-quality products: accuracy of measurements and detailed inspection. Profiling, width, height, step, gap, V-gap, edge, angle, bend, groove, and surface are among a few crucial parameters that a position sensor measures. These sensors also detect, measure, and evaluate the profiles on different object surfaces and are suitable for various industrial applications, including HVAC systems, transportation systems, industrial equipment, mobile hydraulics, smart buildings, heavy-duty machinery, and construction equipment. Many measurement tasks become easier when the position sensor is integrated with the analytics software. Thus, the position sensor is useful where displacement, distance, length, or position parameters need to be measured for automating, testing, or monitoring processes.

Restraints

  • Higher ownership cost, the position sensor is manufactured/assembled using numerous components, such as position magnets, sensing rods, electronics housing fixtures, diagnostic light-emitting diodes (LEDs), and connectors, which are supplied by multiple vendors. Profitability primarily depends on the availability and cost of raw materials and components, as well as on time taken to launch the end product in the market. The major challenge for the companies operating in this segment is to increase their manufacturing capabilities, provide improved quality products, as well as reduce the overall cost of production.

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Global Position Sensor Market Competitive Landscape

The nature of the position sensor market is highly competitive on account of the presence of multiple players. The top players are involved in collectively striving to make position sensors a part of varied electronic devices and simplify its integration in various systems. Moving consumer preferences from contact to non-contact position sensing technologies are enabling key players to offer innovative contactless sensors. For instance, Honeywell International offers a broad range of SMART position sensors that provides non-contact angular position sensing. Companies are also focusing on developing strategic partnerships and acquisitions to gain a competitive advantage.  Brand and geographical expansion are other strategies adopted by some players to gain a competitive edge in the overall market competition. The German economy has been driving automation significantly, and happens to be the most highly automated economy in the European Union. Demand for position sensors in the European market is driven by automation in systems. Increasing demand for automation across different industry verticals is one of the major factors driving market growth in Germany.

Top Players in the Global Position Sensor Market

Recent Developments

  • In January 2022, Allegro Microsystems, LLC released the A33230 3D sine/cosine Hall-effect position sensor IC. It's the world's smallest 3D sine/cosine sensor, offering system designers a low-cost option for automotive and industrial applications.
  • In April 2022, Vishay Intertechnology, Inc. created a new micro position sensor with a 12.7 mm outer diameter that offers more accuracy and resolution than rival devices of the same size, as well as increased dependability and longevity in demanding military and industrial working conditions.
  • In 2021, ElastiSense launched a new 2.0 version of the DS-series displacement sensor.

Global Position Sensor Key Market Trends

  • With constant development in technology and connecting networks, consumer electronic devices such as smartphones and tablets are now being equipped with wireless communications, localization technologies, and new sensory capabilities. The use of cutting-edge positioning-based systems has been increasingly made in such devices as they possess more processing memory and battery power. These positioning systems aid users in various application fields like tracking, healthcare, tourism, manufacturing, navigation, and personal security activities. The increased demand for such devices has offered major growth opportunities for the market. Assembling or manufacturing a position sensor is done using numerous components, such as sensing rods, diagnostic light-emitting diodes (LEDs), position magnets, electronics housing fixtures, and connectors; which are delivered by various vendors. Thereby, high costs are associated with the manufacturing of the position sensor. The product profitability depends on the availability and cost of raw materials and components along with the time consumed till the launch of the end product in the market. Increasing manufacturing capabilities, providing improved quality products, and reducing the overall cost of production are the major challenges faced by the companies functioning in this segment. Industry 4.0 has enabled the rapid expansion of advanced technologies, thereby motivating industry manufacturers to adopt automation of industrial processes. Industrial manufacturers across various regions are predominantly investing to improve their manufacturing infrastructure with the application of fully automated machine tools. For instance, according to IFR (International Federation of Robotics), nearly 373,000 units of industrial robots were dispatched globally. In addition, a recent report of World Robotics 2020 Industrial Robots has mentioned a 12% increase in industrial robots functioning in factories worldwide which is a record of 2.7 million robots in total. The inclination of manufacturers toward automation has thus driven the growth of the Global Position Sensor Market.

Global Position Sensor Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global position sensor market analysis, over the forecast period, the increasing adoption of integrated control systems in consumer electronics devices such as smartphones and tablets is expected to provide lucrative growth opportunities. Position sensors are in high demand as a result of the growing trend toward plant automation in process industries. Stringent emission regulations enacted in several European countries encourage the use of linear and rotary position sensors.

Report Metric Details
Market size value in 2021 USD 6.12 billion
Market size value in 2028 USD 11.56 billion
Growth Rate 9.5%
Base year 2021
Forecast period 2022-2028
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • Photoelectric, Linear, Proximity, Rotary, Others
  • Application
    • Military & Aerospace, Electronics & Semiconductors, Packaging, Others
  • Contact Type
    • Non-Contact Type, Contact Type
  • Output
    • Digital Output, Analog Output
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Position Sensor Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Position Sensor Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Position Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Position Sensor Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Position Sensor Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Position Sensor Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Position Sensor Market size was valued at USD 6.12 billion in 2021 and is expected to reach USD 11.56 billion by 2028, at a CAGR of 9.5% during the forecast period (2022-2028).

The nature of the position sensor market is highly competitive on account of the presence of multiple players. The top players are involved in collectively striving to make position sensors a part of varied electronic devices and simplify its integration in various systems. Moving consumer preferences from contact to non-contact position sensing technologies are enabling key players to offer innovative contactless sensors. For instance, Honeywell International offers a broad range of SMART position sensors that provides non-contact angular position sensing. Companies are also focusing on developing strategic partnerships and acquisitions to gain a competitive advantage.  Brand and geographical expansion are other strategies adopted by some players to gain a competitive edge in the overall market competition. The German economy has been driving automation significantly, and happens to be the most highly automated economy in the European Union. Demand for position sensors in the European market is driven by automation in systems. Increasing demand for automation across different industry verticals is one of the major factors driving market growth in Germany.'MTS System Corporation','Hans TURCK GmbH & Co.KG','Balluff Inc.','Heidenhain Corporation','Honeywell International Inc.','TE Connectivity Ltd.','Emerson Electric Co.','Ametek Inc.','Sick AG','Sensata Technologies Inc.'

High accuracy degree is required by all manufacturing industries to match industry standard products in order to provide high quality products, be it electronic or automotive. Position sensors also help to sensor other parameters such as gap, width, profiling, edge, bend, angle, groove, height, surface, and others. Position sensors are suitable for different applications such as heavy-duty machinery, construction equipment, mobile hydraulics, industrial equipment, transportation systems, HVAC systems, and smart buildings. Position sensors are used for monitoring processes, testing, and automating processes, the demand for which will further create new growth opportunities for this market in the coming years as well.

With constant development in technology and connecting networks, consumer electronic devices such as smartphones and tablets are now being equipped with wireless communications, localization technologies, and new sensory capabilities. The use of cutting-edge positioning-based systems has been increasingly made in such devices as they possess more processing memory and battery power. These positioning systems aid users in various application fields like tracking, healthcare, tourism, manufacturing, navigation, and personal security activities. The increased demand for such devices has offered major growth opportunities for the market. Assembling or manufacturing a position sensor is done using numerous components, such as sensing rods, diagnostic light-emitting diodes (LEDs), position magnets, electronics housing fixtures, and connectors; which are delivered by various vendors. Thereby, high costs are associated with the manufacturing of the position sensor. The product profitability depends on the availability and cost of raw materials and components along with the time consumed till the launch of the end product in the market. Increasing manufacturing capabilities, providing improved quality products, and reducing the overall cost of production are the major challenges faced by the companies functioning in this segment. Industry 4.0 has enabled the rapid expansion of advanced technologies, thereby motivating industry manufacturers to adopt automation of industrial processes. Industrial manufacturers across various regions are predominantly investing to improve their manufacturing infrastructure with the application of fully automated machine tools. For instance, according to IFR (International Federation of Robotics), nearly 373,000 units of industrial robots were dispatched globally. In addition, a recent report of World Robotics 2020 Industrial Robots has mentioned a 12% increase in industrial robots functioning in factories worldwide which is a record of 2.7 million robots in total. The inclination of manufacturers toward automation has thus driven the growth of the Global Position Sensor Market.

Being a lucrative industry for consumer electronics devices such as smartphones and laptops, as well as a promising regional sector for industrial manufacturing, the Asia Pacific held the largest global position sensor market share in 2021 and will dominate the global position sensor market. Outsourcing of manufacturing activities to low-cost developing countries in Asia is expected to witness strong demand for high-quality precision equipment and sensors in this region. Robust development in the manufacturing sector and tremendous appetite for new machine tools in the Chinese market are expected to boost regional growth over the next seven years. Proximity to the U.S. market and free trade agreements with the U.S., Canada, Japan, and the European Union have propelled the packaging machinery manufacturers to start manufacturing and assembly of components in countries such as Brazil and Mexico. This has resulted in the high adoption of position sensors in the Latin American region. Rising trends towards the adoption of wireless sensor technology are further expected to trigger industry growth in North America and Europe.

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