The global market for position sensors will more than double by 2026, reaching $10 billion, according to Stratistics MRC, a market research firm.
The rising use of position sensors will come from the auto and aerospace industries as well as industrial automation and robotics, accounting for a 10% annual growth rate, Stratistics said in a recent release. The market reached $4.2 billion at the end of 2017.
Position sensors are devices that measure position, such as the total distance traveled by a person starting at a point that is called a reference position. These sensors help in measuring linear or angular position in comparison to a fixed point or any arbitrary point. The sensors can also be used to detect the presence or absence of an object.
Once a position or proximity information is obtained, it can be combined with time measurements, and then speed, velocity and acceleration can also be calculated, Stratistics explained.
The biggest companies in the position sensor market include TE Connectivity, Honeywell, STMicroelectronics, AMS AG, Allegro Microsystems, MTS Systems, Bourns, Infineon Technologies, SICK AG and Vishay.
In addition to the auto and aerospace industries, position sensors are used in packaging, all forms of electronics, healthcare and more.