The position sensor is an electronic device used to measure the position where displacement, location, distance or length measurements are used to automate, test or monitor processes. It measures the distance the body travels from its place of reference or initial position.
What are the emerging technologies that could impact the position sensor market?
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Position sensor market size
The global position sensor market is expected to grow from US$ 5 billion in 2019 to US$ 7 billion by 2025.
Analysis of position sensor market
The growth in the position sensors market is driven by the growing adaptation of the position sensor in the aviation sector and by increased demand in the manufacturing sector. Position sensors are used in a number of manufacturing fields including material monitoring, final product transits and operational efficiency.
The emerging trends towards plant automation and increased vehicle safety requirements generate strong demand for the market. In the automotive industry, they are mainly used in clutch plates, guided steering angle sensing, pedal positioning, camshaft positioning, and electric throttle control and in advanced driver-assistance systems (ADAS).
Due to the increasing worldwide production of vehicles and the rising use of new technology in passenger cars, especially in developing countries such as China, Indonesia and Thailand are boosting the global demand for such sensors. These sensors ensure vehicle safety which will help fuel the growth of the market for position sensors.
Moreover, Hybrid engines and vehicle parking assistance systems also include the use of position sensors for proper operation. Apart from this, the rising need for time-tested sensors and tailored solutions for military and aeronautical applications for the critical mission are the main driving forces behind the demand for position sensors. The global growing market growth will also be driven by increased demand for position sensors in robotics and automation.
Additionally, the packaging industry is also driving the market of position sensor as it plays a key role in packaging machines and to the detection of the end stop position of the mechanical part, such as the deflector. It also helps track the position of a label applicator and moving parts such as a cassette or cylinder. Thus, the growing packaging industry is driving the growth of the global market for position sensors.
The key challenge is the lack of procedures for measuring the performance standards of position sensors and the lack of product differentiation which may hinder the global position sensor market. Several players sell the same technical framework based products. This causes market players to compete for high volume contracts with large manufacturers and is therefore subject to the resulting price pressure.