According to a research report titles "Position Sensor Market by Type (Linear and Rotary), Contact Type (Contact and Non-Contact) Output (Analog and Digital), Application (Machine Tools, Robotics, Motion Systems, Material Handling), Industry, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 5.98 Billion by 2022, at a CAGR of 6.27% between 2017 and 2022.
The major factors driving the growth of the market include the increasing investment in manufacturing infrastructure, integration of position sensors in modern automobiles, and growing adoption of position sensors in the aerospace industry.
Linear position sensors are expected to hold a major share of the market during the forecast period
Linear position sensor is one of the most commonly used sensors for position sensing. Linear position sensors are considered as an ideal solution for providing accurate, reliable, as well as high-resolution position measurement. These sensors are widely used in various end-user industries. Different types of linear position sensors offer different features and provide reliable position measurement for applications in subsea, power generation, industrial automation, aerospace, test and measurement.
Position sensor market for digital output is expected to grow at the highest rate between 2017 and 2022
Digital sensors are gaining popularity because discrete signals are less susceptible to potential interference and result into higher quality and more reliable measurement values and output, thereby fulfilling the requirements of complex systems. A digital sensor has a greater resolution and high accuracy compared with analog sensor. A digital sensor accurately reflects the sensor outputs without any cascading errors. It has a greater capacity to control errors and provide a complete signal output from the sensor to computer programs.
Browse 70 market data Tables and 61 Figures spread through 191 Pages and in-depth TOC on "Position Sensor Market" at http://www.marketsandmarkets.com/Market-Reports/position-sensor-market-17719728.html
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