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Global Position Sensor Market is Expected to Reach USD 7.8 Billion by 2025

The global position sensor market is expected to reach USD 7.8 billion by 2025, growing at a CAGR of 8.3% during the forecast period. Increasing demand for automation in manufacturing, as well as

other industries in the years to come, will boost the demand for position sensors. Industrial robotics adoption requires the use of a large number of sensors including position sensors for better performance. This will act as an opportunity for the global position sensor market in the near future.  

Manufacturing sector segment held the largest share in the position sensor market in 2019

Based on the end-user industry, the market is segmented into manufacturing, automotive, aviation & aerospace, electronics, healthcare, and others. The manufacturing sector is expected to account for the highest market share in the current year. However, automotive and consumer electronics are industries expected to grow at the fastest rate during the forecast period.

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Geography Insight

Geographically, Europe is the largest position sensor market with a large number of robotics integration in the manufacturing industry. Besides, the region is home to some of the major automotive manufacturers, this will further upsurge the growth of the position sensor market in years to come.

Competitive Insight

Some of the key players operating in the position, sensor market are Honeywell International Inc., SICK AG, ARMS AG, TE Connectivity Ltd., MTS Systems, Vishay Intertechnology, Inc., Infineon Technologies, STMicroelectronics, Bourns, Inc., and Allegro MicroSystems, LLC.

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