,” the market will be driven by growing demand for measurement and inspection applications in the manufacturing industry.
Europe will Dominate the Position Sensors Market
Europe will have the largest share in the Position Sensors Market in the forecast period due to the growth of the automotive industry. The growth of the Asia Pacific market is due to growth of automotive, consumer electronics, and manufacturing industries. The adoption of new technological solutions also drives the demand for the position sensors in Asia Pacific.
Selected Regulatory Analysis Done in the Full Report:
The automotive industry will dominate the Position Sensors Market in the forecast period. This is due to usage of large number of position sensors for different applications in vehicles. In a vehicle, the position sensor gives information to the engine control module in the form of output signals. It detects the position of the wiper and determines the position of the power seats. These sensors ensure the safety of a vehicle.
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Selected Driving Factors Mentioned in the Full Report:
Increasing adoption of integrated control systems in the electronic devices will drive the demand for alignment sensor.
Growing demand for plant automation in the process industries provides opportunities for position sensors.
Growing demand for vehicles safety supports the demand for the position sensors during the forecast period.
Increasing adoption of wireless sensor technology enhances the demand for displacement sensor.
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Key Players of the Position Sensors Market:
The key players of the Position Sensors Market include Honeywell International, Renishaw, and TE connectivity. Honeywell provides sensors solutions which are quite reliable in the industry. It produces magnetic position sensors which find the direction of the external magnetic fields. Renishaw provides robust encoders which are used in industrial applications such as industrial automation, metal working, stone cutting, etc. TE Connectivity provides industrial linear and angular position sensors.
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