Position Sensor Industry Statistics

In the following post, we will explore key statistics and trends shaping the position sensor industry. From market size and projected growth rates to regional dynamics and key players, we will delve into the latest data that provide valuable insights into this critical sector.

Statistic 1

"The global position sensor market size was valued at USD 9.93 billion in 2020."

Statistic 2

"The market is projected to reach USD 15.43 billion by 2028, at a CAGR of 6.1% during the forecast period."

Statistic 3

"Linear position sensors dominate the market with a 45.46% market share in 2020."

Statistic 4

"Non-contact type of position sensors held 73% of the market in 2020."

Statistic 5

"About 60% of position sensor manufacturers are concentrated in North America and Europe."

Statistic 6

"The automotive sector accounts for the most significant part of the position sensor market, at 38.7% in 2020."

Statistic 7

"The Asia-Pacific region is expected to grow at the highest CAGR of 7.12% from 2021 to 2026 in the position sensor industry."

Statistic 8

"The use of position sensors in the consumer electronics sector is expected to grow 8.52% yearly until 2026."

Statistic 9

"Magnetic position sensors are forecasted to represent the highest growth rate of 7.8% in the position sensor industry between 2021 and 2026."

Statistic 10

"The key players in the global position sensor market are Balluff GmbH, Bourns, Inc., and Honeywell International, Inc., holding a combined market share of 78.6%."

Statistic 11

"The growth rate of rotary position sensors is estimated to reach a CAGR of 5.2% by 2028."

Statistic 12

"In 2020, the revenue generated from position sensors in North America was USD 3.56 billion."

Statistic 13

"The contribution of the industrial sector towards the positional sensor industry was more than 24% in 2020."

Statistic 14

"The penetration of IoT technology in the position sensor market is expected to witness 18% growth by 2024."

Statistic 15

"The contribution of Europe to the global Position Sensor Market was 32% in the year 2020."

Statistic 16

"Photoelectric position sensors have a projected market size of USD 2.81 billion by 2028."

Statistic 17

"The position sensors market size for the automotive application will grow by 25% by 2027."

Statistic 18

"The compound annual growth rate of the position sensor industry in the US and Canada is estimated to be 7.8% from 2021 to 2028."

Statistic 19

"By 2025, Industrial machinery is expected to contribute over USD 600 million toward the Japan position sensors market revenue."

In conclusion, the global position sensor industry is experiencing significant growth, driven by various factors such as the dominance of linear position sensors and the increasing use of non-contact sensor types. Key players like Balluff GmbH, Bourns, Inc., and Honeywell International, Inc. are leading the market, especially in sectors like automotive and consumer electronics. Regions like Asia-Pacific are poised for rapid growth, particularly in the use of magnetic position sensors. The industry is also witnessing a strong penetration of IoT technology, indicating a shift towards more advanced sensor applications. With a promising outlook for the future, the position sensor market is set to expand substantially across different sectors and regions, presenting lucrative opportunities for manufacturers and stakeholders.