PUNE, India --- According to the new Market Research Report "Linear Position Sensor Market Research Report By Technology(Potentiometric Position Sensors, Hall Effect Position Sensors, Magnetic Position Sensors, Magnetostrictive Position Sensors, LVDT Position Sensors, Inductive Position Sensor), By Application(Automotive, Industrial/Manufacturing), and By Region - Trends and Analysis till 2022", is expected to grow from USD 3,174.74 million in 2016 to USD 4,457.7 million in 2022, at a CAGR 5.8%.
The automotive industry has witnessed a significant growth in the installation of ADAS application in vehicles, especially passenger cars owing to the regulations mandating installation of driver assistance applications, particularly in North America and Europe and also because of a wide range of advantages offered by these assisting systems. According to European regulation (Number 661/2009), all vehicles sold in the European Union, from November 2015, should be installed with lane departure warning systems (LDWS) along with electronic stability control (ESC). On the other hand, Japan, the U.S., and the European Union are involved in a research program within the European Commission's e-Safety Program. In addition to the regulatory implications around the globe and buyer preference for safety, comfort, and maneuverability, the penetration of driver assistance systems is expected to grow in the years to come. This would directly influence the demand for sensors, thus, indicating promising market for position sensors for automotive applications.
Robotics in the industrial sector is set to bring about a revolutionary change to the manufacturing infrastructure. Manufacturers from different industries are adopting the trend of robotics to improve productivity, as they are getting cheaper. Robotics is a significant market for linear position sensors. They play an integral role in the mechanism of an industrial robot. These sensors are primarily used for controlling and sensing different arm positions as well as calculating the displacement based on the design of the robot. Each specific technology used in a position sensor has a specific function to perform. Furthermore, with the rise in the number of installation of robots globally, the production of these robots has also risen, creating a higher demand for position sensors.
Key Players of Linear Position Sensor Market includes:
TE connectivity Ltd. (Switzerland), Omron Corporation (Japan), MTS Systems Corp. (U.S.), Honeywell international Inc. (U.S.), Keyence Corp. (Japan), Emerson Electric Co. (U.S.), Sick AG (Germany), National Instruments Corp. (U.S.), Vishay Intertechnology, Inc. (U.S.), Hans Turck GMBH CO.KG. (Germany) among others.
The report analyses the market trends for each of the segments along with their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as of value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, and opportunities for the growth of the linear position sensors market for automotive and industrial applications. The report also provides a qualitative and quantitative description of the verticals considered under the market. It also gives a detailed view of the market for North America, Europe, Asia-Pacific, and Rest of World.
Browse 28 market data Tables and 62 Figures spread through 142 Pages and in-depth TOC on "Linear Position Sensor Market" for an in-depth analysis of the industry trends and segments at http://www.micromarketmonitor.com/market-report/linear-position-sensor-reports-3747200754.html
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