Position Sensor Market Analysis

Position Sensor Market Analysis

To get key market trends

  Download Free Sample

Electronics position sensor market size will exceed USD 3 billion by the end of 2032.  Position sensors are extensively deployed across the electronic industry as they help to accurately measure and control the position of electronic devices, components, and systems. The rising popularity of smaller and more accurate position sensors for fitting into compact electronic devices due to the emerging trend of miniaturization in the electronic industry.
 

Based on contact type, the demand for non-contact position sensors will record over 9% CAGR from 2023-2032. The growth can be attributed to the increasing deployment of autonomous vehicles and advanced driver assistance systems (ADAS) in the automotive industry. Hence, the rising emphasis of various automotive companies on collaborations for introducing advanced autonomous automotives will drive the product espousal.
 

With respect to output type, the digital position sensor market size reached over USD 1.5 billion in 2022 on account of the increasing rapid automation and higher sensor integration in several industries. Digital position sensors have gained immense potential in various automation applications, including robotics, and manufacturing equipment, among others for providing accurate and reliable position feedback. Moreover, the thriving deployment of Industry 4.0 and smart factory concepts is another impact rendering factor for the market statistics. 
 

North America position sensor market size will depict over 8% CAGR from 2023-2032 due to the growing competition in the region as numerous key players are constantly coming up with several innovative products for catering to the evolving industrial needs. To cite an instance, Onsemi, in November 2022, launched the NCS32100, its dual-inductive rotary position sensor. The new sensor deploys a novel approach for providing unparalleled speed & accuracy and inductive position sensing.