Global Position Sensor Market Size to worth USD 12.75 Billion by 2033: Market Statistics Report

Global Position Sensor Market Size to worth USD 12.75 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global Position Sensor Market Size is Expected to Grow from USD 6.45 Billion in 2023 to USD 12.75 Billion by 2033, at a CAGR of 7.05% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Position Sensor Market Size, Share, and COVID-19 Impact Analysis, By Application (Photoelectric, Linear, Proximity, Rotary, and Others), By End-use (Automotive, Military & Aerospace, Electronic & Semiconductor, Packaging, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

Position sensor refers to a sensor that detects an object’s position. It utilizes a motion detection mechanism to determine the presence of humans or objects within a specific area. Improvements in sensor technology, such as increased accuracy and dependability, and the growing use of Internet of Things applications that need accurate position monitoring are major trends propelling this expansion. Factors including growing demand for luxury cars and advancements in the electronics market are providing lucrative market growth opportunities for position sensors. The growing adoption of industrial automation and robotics along with the rising Industry 4.0 is driving the position sensor market. The rapid advancement and incorporation of automation and robotics in various industries are driving market growth. On the contrary, the increased cost of development and manufacturing of position sensors is challenging the market growth for position sensors.     

The proximity segment is expected to hold the largest market share during the projected timeframe.

Based on the application, the position sensor market is classified into photoelectric, linear, proximity, rotary, and others. Among these, the proximity segment is expected to hold the largest market share during the projected timeframe. Proximity sensors are crucial in working on features such as touch recognition, gesture control, and overall user experience improvement. They are widely used in smart devices, such as tablets, smartphones, smart watches, and other gadgets, which have a beneficial effect on market expansion.

The automotive segment dominated the position sensor market with the largest market share in 2023.

Based on the end-use, the position sensor market is classified into automotive, military & aerospace, electronic & semiconductor, packaging, and others. Among these, the automotive segment dominated the position sensor market with the largest market share in 2023. The strict safety regulations that require the integration of modern security services like adaptive cruise control (ACC) and electronic constancy control (ESC) are the factors growing need for position sensors in the automotive segment.

Europe is estimated to hold the largest share of the position sensor market over the forecast period.

Europe is estimated to hold the largest share of the position sensor market over the forecast period. Europe features a robust industrial foundation and is well-known throughout the world for its exceptional engineering skills, top-notch workforce, and research and development endeavors. The region's well-known automotive, aerospace & defense, and healthcare firms are responsible for driving the market. In addition, the increasing popularity of digital platforms and internet services is propelling the market for position sensors.

Asia Pacific is predicted to grow at the highest CAGR in the position sensor market over the forecast period. The growing adoption of advanced driver-assistance systems (ADAS) and autonomous cars due to the stringent vehicle emission standards are driving the market. Further, the emergence of automation and Industry 4.0 along with the rapid increase in the consumer electronics industry are propelling the market growth.

Competitive Analysis

Major key players in the global position sensor market include Honeywell International Inc., TE Connectivity, SICK AG, ams-OSRAM AG, MTS System, Infineon Technologies AG, STMicroelectronics, Balluff Inc., Vishay Intertechnology Inc., Baumer, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2024, Honeywell to supply propulsion unit position sensors for Lilium Jet. Honeywell, working closely with Lilium, created a customised, solid-state resolver using patented spiral magnet technology and magneto-resistive sensors that can determine the position of magnetic objects.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the position sensor market based on the below-mentioned segments:

Global Position Sensor Market, By Application

• Photoelectric
• Linear
• Proximity
• Rotary
• Others

Global Position Sensor Market, By End-use

• Automotive
• Military & Aerospace
• Electronic & Semiconductor
• Packaging
• Others

Global Position Sensor Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa