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Boston, MA -- (SBWire) -- 06/08/2017 --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

"The position sensor market is estimated to grow at a CAGR of 6.27% between 2017 and 2022"

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.

Get More Details on this Report and a Full Table of Contents at Position Sensor Market - Global Forecast to 2022

"Machine tool application is expected to hold the largest size of the position sensor market during the forecast period"

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.

"Position sensor market in APAC is expected to grow at the highest rate during the forecast period"

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.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people. The breakup of the profile of primary participants has been given below:

-By Company Type: Tier 1 - 43%, Tier 2 - 19%, and Tier 3 - 38%
-By Designation: C-Level Executives - 39%, Directors - 27%, and Others - 34%
-By Region: North America - 24%, Europe - 20%, APAC - 37%, and RoW - 19%

The key market players profiled in the report are:

-ams AG (Germany)
-Honeywell International, Inc. (US)
-MTS Systems Corporation (US)
-Renishaw plc. (UK)
-TE Connectivity Ltd. (Switzerland)
-Vishay Intertechnology, Inc. (US)
-Allegro MicroSystems, LLC (US)
-Panasonic Corporation (Japan)
-Infineon Technologies AG (Germany)
-STMicroelectronics N.V. (Switzerland)
-Qualcomm Technologies, Inc. (US)
-Bourns, Inc. (US)
-Dr. Johannes Heidenhain GmbH (Germany)

Research Coverage:

-In terms of market by type, linear position sensor (linear encoder, linear variable differential transformer (LVDT), magnetostrictive sensor, linear potentiometer, and laser position sensor) and rotary position sensor (rotary encoder, rotary potentiometer, rotary variable differential transformer (RVDT), and resolver) are covered.
-In terms of market by contact type, contact and non-contact are covered.
-In terms of market by output, analog and digital are covered.
-In terms of market by application, test equipment, material handling, machine tools, motion systems, robotics, and others (inspection systems and measurement) are covered.
-In terms of market by industry, consumer electronics, automotive, aerospace, healthcare, manufacturing, and packaging are covered.
-The geographic analysis is done with regards to major four regions-North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) (South America and the Middle East and Africa).

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