The position sensors market has been estimated to reach a total of US$6.1 billion by 2018, primarily driven by encouraging use of the technology in a wide range of industries and increasing demand within developing countries.
A position sensor is any device that permits position measurement. It can either be an absolute position sensor or a relative one (displacement sensor). Position sensors can be linear, angular, or multi-axis.
Position sensors, over the decades, have come to represent an important type of measurement technology with its use spreading to a wide array of applications ranging from transportation systems to industrial equipment to medical equipment.
As continuous incremental technology innovations continue to carry the benefits of this technology far and wide, across newer applications areas/platforms, the market for these sensors is poised to grow.
The market for position sensors is witnessing a steady shift from contact position sensors to non-contact position sensing technologies. Limitations of contact technologies such as high power consumption, interference and electronic noise, is stepping-up demand for non-contact sensors.
These sensors offer advantages such as lesser wear and tear, reduced risk of particulate contamination, low risk of disruptive magnetic field interaction, and easy integration into non-serviceable places and locations.
Europe continues to remain the largest region within the position sensors industry, however, Europe's market is beginning to feel the heat of the region's festering debt crisis, given the fact that opportunities in this space are hugely dependent on the health of the industrial and manufacturing sector.
The crisis induced volatility in the Index of Industrial Production (IIP), not surprisingly leaves the domestic market hurting. Indicating the deepening financial crisis in the region is the decline in industrial production, which for the full year 2012 declined by 2.4% approximately in the eurozone area.
The scenario offers very little reasons for optimism and hope for a turnaround thus creating an especially uncomfortable market scenario for position sensor manufacturers.
Major players currently controlling the position sensors market include Allegro MicroSystems Inc., Bourns Inc., Custom Sensors and Technologies Inc., CTS Corporation, Curtiss-Wright Controls, Inc., Honeywell International Inc., SICK AG, Siemens AG and Truck Inc.
For more information on the position sensors market, see the latest research: Position Sensors Market
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