DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Position Sensor Market by Type (Linear and Rotary), Contact Type (Contact and Non-Contact) Output (Analog and Digital), Application (Machine Tools, Robotics, Motion Systems, Material Handling), Industry, and Geography - Global Forecast to 2022" report to their offering.
The position sensor market is expected to reach USD 5.98 billion by 2022, at a CAGR of 6.27% between 2017 and 2022.
The key factors contributing to the growth of the studied market include the increasing investment in manufacturing infrastructure, integration of position sensors in modern automobiles, and growing adoption of position sensors in the aerospace industry. Moreover, the growth of the market is driven by the growing trend in industrial automation. However, rise in pricing pressure acts as a restraint for the growth of the studied market.
Machine tool is one of the main applications of the position sensors. Position sensors are used in numerous areas in the machine tool application, including assembly and welding robot, automated guided vehicle, bending press, laser cutting machine, coil storage and handling, as well as sheet metal processing. In the assembly line, the use of position sensors ensures the smooth transit of products, which enables large-scale production along with the optimum utilization of resources. Moreover, the use of position sensors in machine tools includes ensuring operation efficiency of the assembly line and simplifying task at a lower cost in the metal work industry. Thus, this market is likely to witness an increased growth between 2017 and 2022.
The position sensor market in Asia Pacific (APAC), by country, has been subsegmented into China, Japan, South Korea, India, and Rest of APAC (RoAPAC). APAC plays a pivotal role in the development of the electrical and electronics industry. Several electronic manufacturing companies outsource their production to low-cost countries in Asia. This is more distinct in segments with higher demand for labor-intensive work such as passive electronic components, semiconductor assembly, and testing operations, than those with relatively less labor-intensive work such as semiconductor fabrication.
Market Dynamics
Drivers
- Increasing Emphasis on Measurement and Inspection in the Manufacturing Industry
- Growing Adoption of Position Sensors in the Aviation and Aerospace Industry
- Amalgamation of Position Sensors in Modern Automobiles
Restraints
- High Prices of Components and Raw Materials Could Affect the Profitability of Position Sensors
Opportunities
- Growing Trend in Industrial Automation
- High Potential for Industrial Robotics Application
Challenges
- Lack of Proper Standards to Measure Performance Indicators
Companies Mentioned
- Allegro Microsystems, LLC
- Alliance Sensor Group
- ams AG
- Bourns Inc.
- Dr. Johannes Heidenhain GmbH
- Hans TURCK GmbH Co. KG
- HELLA KGaA Hueck & Co.
- Infineon Technologies AG
- MTS Systems Corporation
- Netzer Precision
- Novotechnik Messwertaufnehmer OHG
- Panasonic Corporation
- Piher Sensors & Controls
- Posital Fraba
- Positek Ltd.
- Qualcomm Technologies Inc.
- Renishaw Plc
- Sensata Technologies
- SIKO GmbH
- STMicroelectronics N.V.
- TE Connectivity Ltd.
- Variohm Eurosensor Ltd.
- Vishay Intertechnology Inc.
- Zettlex UK Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/zl3md7/position_sensor.
