The global position sensors market was valued at USD 6.83 billion in 2014. Growing adoption of integrated control systems in consumer electronics devices such as smartphones and tablets is expected to offer lucrative growth opportunities over the forecast period.
The emerging trend towards plant automation in process industries is generating high demand for position sensors. Stringent emission laws legislated in various European countries are encouraging the use of linear and rotary position sensors. These sensors play a crucial role in ensuring vehicle compliance with the slated emission riders.
U.S. position sensors market by application, 2012 - 2022 (USD Million)
The industry is anticipated to witness growth owing to ongoing technological innovations in optical position sensors. This technology is leading to the development of smaller and efficient chipsets and modules with added functions.
Escalating needs for implementation of high-speed precision control and measurement of the machines in manufacturing operations are expected to provide new growth avenues. The expansion of active vehicle safety to create advanced driver assistance system is estimated to augment industry growth.
Technology segments analyzed in the study include photoelectric, linear, proximity, rotary and others. Proximity sensors market accounted for over 25% of the global revenue share in 2014 and is expected to continue being the dominant segment in terms of industry size by 2019.
Photoelectric sensors are expected to be the fastest growing segment over the forecast period. Increasing demand for sensor-based data and information-based manufacturing from production line machinery are expected to augment the demand for photoelectric sensors.
Linear and proximity sensors are expected to emerge as a promising segment over the forecast period owing to the wider adoption of proximity sensors in smartphones to detect the accidental touch screen taps. Moreover, proximity sensors have become important data acquisition devices in automation to provide information in the form of individual process variables to controllers.
Wide implementation of proximity and linear sensors in packaging machinery to detect the presence and position of various components is estimated to traction the demand for these sensors over the forecast period.
The industry has been classified based on application into military & aerospace, electronics & semiconductors, packaging, and others. Other applications include assembly & robotics, R&D, medical equipment applications. The automotive segment accounted for over 45% of the global revenue share in 2014 and is expected to continue to be the prevailing segment by 2022.
Automotive and electronics & semiconductors sectors are expected to emerge as promising application sectors over the forecast period. Rising need for position sensing in steering wheel position, throttle controlling, automatic gear selection, and managing vehicle stability is expected to drive the demand for automotive applications.
The modern aerospace industry requires highly-complex products with an extremely high proportion of electronic components and maximum safety requirements. This has resulted in the demand for complex development and production processes. Such production process requires contactless sensing technology, thereby spurring the industry demand in the aerospace application.
Being a lucrative industry for consumer electronics devices such as smartphones and laptops, as well as a promising regional sector for industrial manufacturing, the Asia Pacific position sensor market contributed to over 35% of the overall revenue in 2014.
Outsourcing of manufacturing activities to low-cost developing countries in Asia is expected to witness strong demand for high-quality precision equipment and sensors in this region. Robust development of manufacturing sector and tremendous appetite for new machine tools in the Chinese market are expected to boost regional growth over the next seven years.
Proximity to the U.S. market and free trade agreements with the U.S., Canada, Japan, and the European Union have propelled the packaging machinery manufacturers to start manufacturing and assembly of components in countries such as Brazil and Mexico. This has resulted in the high adoption of position sensors in Latin American region. Rising trends towards the adoption of wireless sensor technology are further expected to trigger industry growth in North America and Europe.
The global position sensors company market share is mainly occupied by key competitors such as Sensata Technologies, Honeywell International, Inc., Sick AG, and Heidenhain. These players are involved in collectively striving to make position sensors a part of varied electronic devices and simplify its integration in various systems. Moving consumer preferences from contact to non-contact position sensing technologies are enabling key players to offer innovative contactless sensors. For instance, Honeywell International offers a broad range of SMART position sensors that provides non-contact angular position sensing. Companies are also focusing on developing strategic partnerships and acquisitions to gain a competitive advantage. For instance, in December 2015, Sensata Technologies announced the acquisition of Custom Sensors& Technologies. The acquisition further extends Sensata’s sensing portfolio beyond automotive markets.
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