Position Sensor Market

Global Position Sensor Market Size, Share & Trends Analysis Report By Type (Rotary and Linear), By Contact Type (Non-Contact and Contact), By Output (Digital and Analog), By Application, By Vertical, By Regional Outlook and Forecast, 2023 - 2030

Report Id: KBV-20681 Publication Date: March-2024 Number of Pages: 519
2022
USD 5.6 Billion
2030
USD 11.3 Billion
CAGR
9.3%
Historical Data
2019 to 2021

Market Report Description

The Global Position Sensor Market size is expected to reach $11.3 billion by 2030, rising at a market growth of 9.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 20,654.5 thousand units, experiencing a growth of 11.5% (2019-2022).

Position sensors are integrated into patient monitoring systems to track the position and movement of patients in hospital beds, wheelchairs, and medical equipment. Therefore, the healthcare and life sciences segment captured $430.9 million revenue in the market in 2022. These sensors provide real-time data on patient posture, positioning, and activity levels, allowing healthcare providers to monitor patient safety, prevent falls, and optimize patient comfort and positioning during recovery and treatment.

Position Sensor Market Size - Global Opportunities and Trends Analysis Report 2019-2030

The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In October, 2023, Sick AG teamed up with Endress+Hauser Group Services AG, a global leader in measurement and automation technology. Under this collaboration, the companies supported the customers in the areas of resource and energy efficiency. Additionally, In June, 2023, Infineon Technologies AG entered into a partnership with Kontrol Technologies Corp. Through this partnership, autonomous driving technology enhanced to develop an algorithm-based solution which controls the legal controls and the boundary settings for vehicles.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Honeywell International, Inc. and STMicroelectronics N.V. are the forerunners in the market. In June, 2023, STMicroelectronics N.V. entered into an agreement with SANAN Optoelectronics Co., Ltd., an electrical and electronic manufacturing company. Under this agreement, a 200-mm silicon carbide device manufacturing joint venture was formed in Chongqing, China. Additionally, the joint venture assisted in offering foundry services to ST and satisfying the demands of its Chinese customers. Companies such as NXP Semiconductors N.V., Denso Corporation, Infineon Technologies AG are some of the key innovators in the market.

Position Sensor Market - Competitive Landscape and Trends by Forecast 2030

Market Growth Factors

Technological advancements enable position sensors to offer higher accuracy and precision in measuring position, displacement, and motion. Enhanced sensor resolution and sensitivity allow for more precise control and monitoring in various applications, including industrial automation, automotive systems, and consumer electronics. Therefore, the ongoing technological advancements are driving the growth of the market.

Additionally, the development and implementation of autonomous driving systems rely heavily on these to accurately track the vehicle’s position, speed, and orientation. These sensors, including GPS, LiDAR, radar, and inertial measurement units (IMUs), provide essential data for navigation, obstacle detection, and collision avoidance, enabling safe and reliable autonomous operation. Thus, increasing advancements in automotive technologies are propelling the growth of the market.

Market Restraining Factors

Developing advanced sensor technologies requires significant investments in research and development (R&D) to innovate new materials, sensing principles, and manufacturing processes. These R&D expenses are often passed on to consumers, contributing to higher product costs. Advanced sensors may require specialized components, materials, and manufacturing techniques for higher accuracy, sensitivity, and reliability. In conclusion, the high cost of advanced sensor technologies is impeding the growth of the market.

Position Sensor Market Share 2022

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.

Driving and Restraining Factors
Position Sensor Market
  • Ongoing technological advancements
  • Increasing development of automotive technologies
  • Rising demand for medical devices and healthcare solutions
  • High cost of advanced sensor technologies
  • Complex installation and calibration requirements
  • Growing emphasis on market penetration in emerging economies
  • Emergence of renewable energy and sustainable technologies
  • Data security and privacy concerns related to position sensors
  • Limited performance in extreme conditions

By Type Analysis

Based on type, the market is bifurcated into rotary and linear. In 2022, the rotary segment garnered 67.3% revenue share in the market. The rising demand for rotary sensors reflects their critical role in various industries and applications, where accurate measurement and control of rotational motion are essential for optimizing performance, enhancing safety, and enabling technological advancements.

By Contact Type Analysis

Based on contact type, the market is categorized into non-contact and contact. The contact segment witnessed 36.7% revenue share in the market in 2022. Contact-type sensors often offer a cost-effective solution compared to non-contact sensors, making them a preferred choice for applications where cost considerations are paramount.

By Output Analysis

By output, the market is divided into digital and analog. In 2022, the digital segment registered 70.0% revenue share in the market. Digital sensors offer high accuracy and precision in measuring position, displacement, and motion. By providing digital output signals with quantized position information, digital sensors enable precise control and monitoring of position-related parameters in real time, facilitating improved performance and quality in industrial processes, robotics, automotive systems, and consumer electronics.

Position Sensor Market Share and Industry Analysis Report 2022

By Application Analysis

On the basis of application, the market is segmented into machine tools, test equipment, motion systems, material handling, robotics, and others. In 2022, the motion systems segment held 14.8% revenue share in the market. The growing prevalence of automation and robotics in various sectors, including manufacturing and logistics, stimulates the need for motion sensors that incorporate position sensors.

By Vertical Analysis

Based on vertical, the market is divided into manufacturing, automotive, aerospace, packaging, healthcare & life sciences, electronics, and others. The manufacturing segment attained 29.9% revenue share in the market in 2022. These are critical in various manufacturing applications, enabling precise positioning, motion control, quality control, and automation across diverse industries and processes.

Free Valuable Insights: Global Position Sensor Market size to reach USD 11.3 Billion by 2030

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 37.1% revenue share in the market. Asia-Pacific is home to some of the world’s largest consumer electronics sectors, including China, Japan, South Korea, and India.

Position Sensor Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 5.6 Billion
Market size forecast in 2030 USD 11.3 Billion
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2030
Revenue Growth Rate CAGR of 9.3% from 2023 to 2030
Quantitative Data Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2019 to 2030
Number of Pages 519
Number of Tables 1133
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, Contact Type, Output, Application, Vertical, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included

Sick AG, Balluff GmbH, Honeywell International, Inc., NXP Semiconductors N.V., STMicroelectronics N.V., Denso Corporation, Continental AG, ZF Friedrichshafen AG, Infineon Technologies AG, Emerson Electric Co.

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Recent Strategies Deployed in the Market

  • Dec-2023: Sick AG released the SICK DT80 1D laser distance sensor. The new product offers an accuracy of +/- 2 mm with a resolution of 0.1 mm at ranges up to 80 metres. Additionally, the new product utilizes a class 2 eye-safe laser to determine position on natural targets.
  • Dec-2023: Honeywell International, Inc. completed the acquisition of the Global Access Solutions business from Carrier Global Corporation, an American multinational heating and refrigeration company. Through this acquisition, Honeywell enhanced the business model of its Honeywell Building Technologies segment. Additionally, the acquisition assisted Honeywell in establishing itself as the leading provider of security solutions.
  • Nov-2023: NXP Semiconductors N.V. introduced the Trimension NCJ29D6 to enhance its Ultra-Wideband (UWB) product portfolio. The new product provides a better user experience by allowing customers to access their cars hands-free using a digital key on a UWB-enabled mobile phone. Additionally, the new product offers real-time localization to regulate multiple use cases using a single system.
  • Oct-2023: Emerson Electric Co. completed the acquisition of National Instruments Corporation, a leading provider of software-connected automated measurement systems. Through this acquisition, Emerson Electric enhanced its position as a leader in the global automation market. Additionally, the acquisition provided Emerson Electric exposure to the industrial software market.
  • Oct-2023: Sick AG teamed up with Endress+Hauser Group Services AG, a global leader in measurement and automation technology. Under this collaboration, the companies supported the customers in the areas of resource and energy efficiency. Additionally, the collaboration assisted in protecting the climate and the environment.

List of Key Companies Profiled

  • Sick AG
  • Balluff GmbH
  • Honeywell International, Inc.
  • NXP Semiconductors N.V.
  • STMicroelectronics N.V.
  • Denso Corporation
  • Continental AG
  • ZF Friedrichshafen AG
  • Infineon Technologies AG
  • Emerson Electric Co.

Position Sensor Market Report Segmentation

ByType (Volume, Thousand Units, USD Billion, 2019-2030)

  • Rotary
  • Linear

By Contact Type (Volume, Thousand Units, USD Billion, 2019-2030)

  • Non-Contact
  • Contact

By Output (Volume, Thousand Units, USD Billion, 2019-2030)

  • Digital
  • Analog

By Application (Volume, Thousand Units, USD Billion, 2019-2030)

  • Machine Tools
  • Robotics
  • Motion Systems
  • Material Handling
  • Test Equipment
  • Others

By Vertical (Volume, Thousand Units, USD Billion, 2019-2030)

  • Manufacturing
  • Packaging
  • Automotive
  • Electronics
  • Aerospace
  • Healthcare & Lifesciences
  • Others

By Geography (Volume, Thousand Units, USD Billion, 2019-2030)

  • 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

Frequently Asked Questions About This Report

This Market size is expected to reach $11.3 billion by 2030.

Ongoing technological advancements are driving the Market in coming years, however, High cost of advanced sensor technologies restraints the growth of the Market.

Sick AG, Balluff GmbH, Honeywell International, Inc., NXP Semiconductors N.V., STMicroelectronics N.V., Denso Corporation, Continental AG, ZF Friedrichshafen AG, Infineon Technologies AG, Emerson Electric Co.

In the year 2022, the market attained a volume of 20,654.5 thousand units, experiencing a growth of 11.5% (2019-2022).

The Machine Tools segment is generating highest revenue in the Market by Application in 2022; thereby, achieving a market value of $3.6 billion by 2030.

The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.3 billion by 2030.

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