Position Sensor Market Share, Leading Key Players Review, Demand and Upcoming Trend by Forecast to 2030
Position Sensor
Market Overview
The global position
sensor market is expected to reach USD 7.54 billion by 2026 at a CAGR of 8.10%
during the forecast period. Market Research Future (MRFR), in its report,
envelops segmentation and drivers to provide a better glimpse of the market in
the coming years. In the past, position sensor was mainly used for manufacturing
and automotive purposes. Basically, position Sensors detect the position of
something which means that they are referenced either to or from some fixed
point or position. For instance, the rotation of a robots wheel can be used to
calculate its distance traveled on the ground. In either case, Position Sensors
can detect an object's movement in a straight line using Linear Sensors or in a
curved line using Linear Sensors or by its angular movement using rotational sensors.
Position Sensor
Market Competitive Analysis
The key players
of the global Position Sensor market are AMS AG, MTS Systems Corporation,
Renishaw plc, Allegro Microsystems Inc., TE Connectivity Ltd., Honeywell
International Inc., Panasonic Corporation, Vishay Intertechnology Inc.,
Qualcomm Technologies Inc, Infineon Technologies AG, and STMicroelectronics N.V.,
among others.
In June 2020, MTS
Systems Corporation developed sensors that add digital output options to
serviceable linear position sensors for hydraulic cylinders. The MH Threaded
sensors are used for off-highway applications such as loaders, telehandlers,
and aerial work platforms. There has been significant success with the analog
output version of MH Threaded sensors and can withstand harsh environments and
still get services when required.
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In January 2020, Renishaw plc launched its Advanced Diagnostic Tool
ADTa-100 for absolute encoders. The ADTa-100 interface delivers an installation
tool and diagnostic accessory used in the company’s rotary and linear absolute
optical encoders. It can be operated with both stand-alone mode and in
conjunction with a PC.
In October 2019, Vishay Intertechnology Inc. announced the launch
of the new Vishay Intertechnology Position Sensors. They offer robust,
high-resolution performance for robotics and other precision industrial and
military applications. The new high-precision position sensor provides robust
performance compared to the conventional Hall effect sensors. The benefits of
the RAMK060 include its built-in self-monitoring, self-calibration to
compensate for mechanical misalignment, and memorization of the last absolute
position before power off. The product offers the best performance with safety
guarantees.
In July 2018, STMicroelectronics N.V. announced the launch of the new
Precision MEMS Sensor that supports accurate positioning and control for cars.
The advanced inertial sensor delivers accurate, deadly reckoning for automotive
navigation, telematics, and highly automated driving systems. The company has
introduced an automotive-grade ASM330LHH is a six-axis inertial sensor of
super-high-resolution motion tracking.
In December
2017, Vishay Intertechnology Inc. launched the Vishay Intertechnology
Industrial Potentiometer Membrane Displacement Sensors, which offer high
durability and repeatability for harsh environments. The company introduced new
rectilinear and rational industrial potentiometer membrane displacement sensors.
These sensors offer reliable performance in harsh environmental conditions. The
rectilinear UIPMA and rational UIPMC are mainly applied for electric actuators
and cylinder positioning systems for aircraft seats, syringe pumps, telecom
antennas, and hospital beds.
Position Sensor
Market Segmental Analysis
The global position
sensor market has been segmented based on type, contact type, output, industry,
and region.
Based on output,
the global market has been segmented into analog and digital. The digital segment accounted for the largest market share of 61.3% in 2019, with a market value of USD 3,091.4 million; it
is expected to register a higher CAGR of 8.60% during the forecast period. The
analog segment was valued at USD 1,951.8 million; it is projected to exhibit a
CAGR of 7.29%. Digital
sensors help the digital output segment dominate the position sensor market. Linear
position sensors are based on the magnetostrictive principle; they are sensors
with time-based digital outputs that generate digital pulses, separated by
time. These sensors have witnessed increased popularity as discrete signals are
less susceptible to potential interference, which gives higher quality and more
reliable measurement values and output, thereby fulfilling the requirements of
complex systems. Such factors are anticipated to boost the growth of the
digital output segment in the global position sensor market. Analog position sensors offer
constant feedback for monitoring relative position. These sensors can be a part
of tension tracking systems for detecting the changing tension or providing
outputs in motor controls for continuous tracking and adjusting the alignment between
two components in a production line. The sensor/magnet pairs can be used in any
non-contact application to monitor and adjust system components where proper
alignment is crucial for function.
By Contact Type,
the market has been segmented into contact and non-contact.
The non-contact segment accounted for a larger market share of 60.1% in 2019,
with a market value of USD 3,030.7 million; it is expected to register a CAGR
of 7.79% during the forecast period. The contact segment was valued at USD
2,012.5 million; it is projected to register a higher CAGR of 8.56%. Contact sensors measure the
position of a target by directly contacting it. Contact positioning sensors are
usually used for detecting the height, thickness, or warpage of the target. Contacting
methods tend to be cheaper. It gives High accuracy, absolute position detection,
and good temperature characteristics. Contact sensor manufacturers are
challenged by non-contact sensor suppliers due to the high demand for
non-contact position sensors. Although contact sensors have a price advantage,
non-contact technologies are more durable and, most importantly, provide
accurate measurements. A
non-contact sensor uses wear-free technology; thus, the sensor contains no
friction on the moving parts, eliminating wear and tear and mechanical failure.
The term non-contact or non-contacting usually refers to a position sensor that
can measure movement or displacement in a rotary or linear. This sensor has
many benefits, including long life, quick responses, high reliability,
dependability, and consistent performance (no wear and tear).
By Industry, the
market has been segmented into manufacturing, automotive,
aerospace, packaging, healthcare, electronics, and others. The
manufacturing segment accounted for the largest market share of 41.42% in 2019,
with a market value of USD 2,089.1 million; it is expected to register the
highest CAGR of 9.61% during the forecast period. The automotive segment was
the second-largest market in 2019, valued at USD 1,012.5 million; it is
projected to exhibit a CAGR of 8.36%. The factors such as the increasing usability of linear variable
differential transformer (LVDT) position sensors, magnetostrictive position
sensors, capacitive position sensors, and encoders in the manufacturing
industry and the increasing need for implementing high-speed accuracy, control,
and measurement devices in manufacturing operations are boosting the growth of
the position sensor market. Several manufacturers of consumer goods,
intermediate goods, and capital goods use different types of position sensors,
including angular sensors, magnetic sensors, and linear Hall effect sensors for
commutations, safety, and monitoring applications. It is also used in factory automation
applications, including industrial automation equipment that involves hardware
with many moving parts. It is mainly used in high-precision manufacturing
industries where high accuracy and frequency response are important.
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The global Position
Sensor market, by region, has been segmented into North
America, Europe, Asia-Pacific, the Middle East & Africa, and Central &
South America. Europe accounted for the largest market share of 38.34%
in 2019, with a market value of USD 1,933.5 million; it is expected to register
a CAGR of 8.41% during the forecast period. North America was the
second-largest market in 2019, valued at USD 1,246.5 million; it is projected
to exhibit a CAGR of 5.61%. Europe
dominates the position
sensor market based on the region due to the presence of key players such as AMS
AG, Renishaw plc, and Infineon Technologies AG. Due to growing adoption of
automobiles has increased the demand for position sensors
for determining pedal positions, seat positions, and steering positions, which
is one of the factors influencing the growth of the position sensors market, North America was the second
largest region.
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