According to a new report, published by KBV research, 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).
The Linear segment is exhibiting a CAGR of 10.7% during (2023 - 2030). Linear position sensors play a vital role in industrial automation applications, where precise measurement and control of linear motion are essential for optimizing manufacturing processes, improving productivity, and ensuring product quality. Furthermore, in industries such as automotive manufacturing, semiconductor fabrication, and pharmaceutical production, linear position sensors are used to monitor the position of robotic arms, conveyor belts, etc.
The Non-Contact segment is registering maximum revenue in the Global Position Sensor Market by Contact Type in 2022; thereby, achieving a market value of $7.2 billion by 2030. Non-contact position sensors, such as optical encoders and capacitive and inductive sensors, offer high accuracy and precision in measuring position, displacement, and motion without physical contact with the target object. This feature makes them ideal for applications where precise measurement and control are critical, such as in robotics, automation, aerospace, and scientific instrumentation.
The Analog segment would exhibit a CAGR of 9% during (2023 - 2030). Analog position sensors have been widely used across industries and applications for many years, leading to a large installed base of analog systems and equipment. Many existing systems and devices are designed to interface with analog sensors, making them a preferred choice for replacement or retrofitting projects where compatibility with legacy infrastructure is essential.
The Machine Tools segment is generating highest revenue in the Global Position Sensor Market by Application in 2022; thereby, achieving a market value of $3.6 billion by 2030. The increasing demand for position sensors in the machine tools segment underscores the importance of precision, automation, and digitalization in modern manufacturing environments. By leveraging advanced sensing technologies, manufacturers can enhance machine accuracy, improve productivity, and unlock new opportunities for innovation and growth in the machine tools industry.
The Automotive segment is experiencing a CAGR of 10% during (2023 - 2030). Throttle position sensors utilize position sensors to determine the throttle valve’s angle within the engine intake manifold. This information is crucial for the engine control unit (ECU) to adjust fuel injection rates and ignition timing, ensuring optimal engine performance, fuel efficiency, and emissions control.
Full Report: https://www.kbvresearch.com/position-sensor-market/
The Asia Pacific region dominated the Global Position Sensor 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. The Europe region is anticipated to grow at a CAGR of 8.6% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 8.8% during (2023 - 2030).
ByType (Volume, Thousand Units, USD Billion, 2019-2030)
By Contact Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Output (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Vertical (Volume, Thousand Units, USD Billion, 2019-2030)
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