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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Position Sensors Market to reach USD 13.79 billion by the end of 2029.

Global Position Sensors Market Size study & Forecast, by Technology (Photoelectric, Linear, Proximity, Rotary, Others), by Application (Automotive, Military & Aerospace, Electronics & Semiconductors, Packaging, Others) and Regional Analysis, 2022-2029

Product Code: ICTNGT-88316580
Publish Date: 17-04-2023
Page: 200

Global Position Sensors Market is valued at approximately USD 9.48 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2022-2029. A sensor that determines an object’s position is called a position sensor. A position sensor can show either the object’s absolute position or its relative position in three-dimensional space, rotational space, or linear space. The major driving factors for the market are increasing adoption of industry 4.0 and growing adoption of precision agriculture.

Industry 4.0 has enabled the quick development of cutting-edge technology, encouraging industry makers to automate industrial operations. Industrial producers in many different places are primarily making investments to upgrade their manufacturing facilities through the use of fully automated machine tools. For instance, the IFR (International Federation of Robotics) reports that almost 373,000 industrial robot systems were shipped worldwide in 2019. A recent report from World Robotics 2020 Industrial Robots also stated a 12% growth in the number of industrial robots operating in factories around the world, for a record-breaking total of 2.7 million robots. The market for position sensors has so expanded due to manufacturers’ propensity towards automation. This investment was made with the intention of reducing the overuse of pesticides and fertilizers. The business also created the CX-6 SMART Seeder for farmers using these funds. Moreover, rising technological innovations is creating a lucrative growth opportunity for the market over the forecast period 2022-2029. However, low accuracy of sensor stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Position Sensors Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to rising demand for position sensors in aerospace and defense, automotive and medical companies. Along with this, presence of key market players and growing initiatives are driving the growth of the market over the forecast period. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to rising development by the manufacturing companies and growing consumer electronics devices which is driving the growth for position sensors.

Major market players included in this report are:
Balluff GmbH
Banner Engineering
Bourns, Inc
CTS Corporation
Honeywell International, Inc.
iFM Efector, Inc.
Keyence Corporation
Leuze Electronics GmbH + Co. KG
Optek Technology

Recent Developments in the Market:
Ø In January 2022, Allegro Microsystems, LLC launched A33230 3D sine/cosine Hall-effect of position sensor IC. It is the smallest 3D sine/cosine sensor.

Global Position Sensors Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Technology, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:

By Application:
Military & Aerospace
Electronics & Semiconductors

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Position Sensors Market, by Region, 2019-2029 (USD Billion)
1.2.2. Position Sensors Market, by Technology, 2019-2029 (USD Billion)
1.2.3. Position Sensors Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Position Sensors Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Position Sensors Market Dynamics
3.1. Position Sensors Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing adoption of industry 4.0 Growing adoption of precision agriculture
3.1.2. Market Challenges Low accuracy of sensor
3.1.3. Market Opportunities Rising technological innovations
Chapter 4. Global Position Sensors Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Position Sensors Market, by Technology
6.1. Market Snapshot
6.2. Global Position Sensors Market by Technology, Performance – Potential Analysis
6.3. Global Position Sensors Market Estimates & Forecasts by Technology 2019-2029 (USD Billion)
6.4. Position Sensors Market, Sub Segment Analysis
6.4.1. Photoelectric
6.4.2. Linear
6.4.3. Proximity
6.4.4. Rotary
6.4.5. Others
Chapter 7. Global Position Sensors Market, by Application
7.1. Market Snapshot
7.2. Global Position Sensors Market by Application, Performance – Potential Analysis
7.3. Global Position Sensors Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Position Sensors Market, Sub Segment Analysis
7.4.1. Automotive
7.4.2. Military & Aerospace
7.4.3. Electronics & Semiconductors
7.4.4. Packaging
7.4.5. Others
Chapter 8. Global Position Sensors Market, Regional Analysis
8.1. Position Sensors Market, Regional Market Snapshot
8.2. North America Position Sensors Market
8.2.1. U.S. Position Sensors Market Technology breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Position Sensors Market
8.3. Europe Position Sensors Market Snapshot
8.3.1. U.K. Position Sensors Market
8.3.2. Germany Position Sensors Market
8.3.3. France Position Sensors Market
8.3.4. Spain Position Sensors Market
8.3.5. Italy Position Sensors Market
8.3.6. Rest of Europe Position Sensors Market
8.4. Asia-Pacific Position Sensors Market Snapshot
8.4.1. China Position Sensors Market
8.4.2. India Position Sensors Market
8.4.3. Japan Position Sensors Market
8.4.4. Australia Position Sensors Market
8.4.5. South Korea Position Sensors Market
8.4.6. Rest of Asia Pacific Position Sensors Market
8.5. Latin America Position Sensors Market Snapshot
8.5.1. Brazil Position Sensors Market
8.5.2. Mexico Position Sensors Market
8.5.3. Rest of Latin America Position Sensors Market
8.6. Rest of The World Position Sensors Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Balluff GmbH Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Banner Engineering
9.2.3. Bourns, Inc
9.2.4. CTS Corporation
9.2.5. Heidenhain
9.2.6. Honeywell International, Inc.
9.2.7. iFM Efector, Inc.
9.2.8. Keyence Corporation
9.2.9. Leuze Electronics GmbH + Co. KG
9.2.10. Optek Technology
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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