Position Sensor Market Size, Share and Trends 2024 to 2034

Position Sensor Market Size and Forecast 2024 to 2034

The global position sensor market size is projected to be worth around USD 11.78 billion by 2034 from USD 5.93 billion in 2024, at a CAGR of 7.09% from 2024 to 2034. Rising trends towards automation in industries like automotive, packaging, military & aerospace, etc., contribute to the market’s growth.

Position Sensor Market Key Takeaways

• Asia Pacific dominated the position sensor market with the largest market share of 34% in 2023.
• North America is estimated to be the fastest-growing during the forecast period of 2023-2034.
• By technology, the proximity sensors segment dominated the market in 2023.
• By technology, the photoelectric sensors segment is expected to be the fastest-growing during the forecast period.
• By application, the automotive segment dominated the position sensor market in 2023.
• By application, the automotive, electronics & semiconductors sectors segment is anticipated to be the fastest-growing during the forecast period.

Asia Pacific Position Sensor Market Size and Growth 2024 to 2034

The Asia Pacific position sensor market size was exhibited at USD 1.88 billion in 2023 and is projected to be worth around USD 4.06 billion by 2034, poised to grow at a CAGR of 7.25% from 2024 to 2034.

Asia Pacific dominated the position sensor market in 2023. Increasing industrial manufacturing and increasing industries for consumer electronics devices like laptops and smartphones in the Asia Pacific region are leading the market’s growth. Low cost of manufacturing, high quality, accuracy sensors, and equipment contribute to the growth of the market in the Asia Pacific region.

• In May 2024, in India, smartphones were launched by Realme, Motorola, Oppo, and others, including Realme Narzo 70 Series, Moto Edge 50Pro, G64, Nord CE 4, and more.

North America is estimated to be the fastest-growing during the forecast period of 2024-2034. There is increasing competition in the North American region as many key players are consistently coming up with cutting-edge products to develop industrial needs. The increasing trend towards wireless sensor technology adoption helps to the growth of the position sensor market.

• In August 2024, in the United States, the patented Alfred ML2 Smart Mortise Lock with Z-wave long range was launched by the smart and connected lock subsidiary of GHT Door Hardware, Alfred International. The ML2 comes standard with a door position sensor, which improves security and allows smart auto-relock capabilities.

Market Overview

The position sensor market refers to a position sensor service provider, which is an electrical device that measures position, distance, length, or displacement to monitor, test, or automate processes. A position sensor is a device that measures mechanical position. It may indicate the absolute location (position) or relative displacement (position) in terms of three-dimensional, linear travel, or rotational angle. The common types of position sensors include sensors that can detect the absence or presence of an object, proximity-type position sensors, and contact-type position sensors. These factors help to the growth of the market.

Position Sensor Market Growth Factors

• The benefits of position sensors include the capability to detect both the speed and position of the crankshaft, high stability, and precision over a high range of temperatures that contribute to market growth.
• It also includes it provides a digital signal which makes it easier to interface with modern ECU (electronic control unit).
• The applications of position sensors include home appliances, gaming, aerospace applications, robotics, research, testing, and lab applications that help the position sensor market grow.
• It also includes handling and lift systems, medical equipment, in-vehicle testing, machinery, and measurement and automation applications.

What are the benefits of AI in the Position Sensor?

The benefits of artificial intelligence (AI) in the position sensor include scalability, improved classification accuracy, greater situational accuracy, eliminated operated workload, and consistent, reliable operation. AI improves sensor systems. Advanced sensors are capable of multi-dimensional information detection, as well as the detection of the human brain, like a computation device for data processing.

• In July 2022, a proof-of-concept agreement with a top three PC/Laptop manufacturer for the AI Virtual Position Sensor was signed by a global AI software company and one of the world leaders in AI Virtual Smart Sensors, Elliptic Labs. The new sensor helps to detect the location of an external display that is linked to a laptop. This clarifies the multiple work environments management and enhances worker convenience and productivity.

Market Scope

Market Dynamics

Driver

Rising demand for the automotive industry and the trend towards automation for production process

The rising demand for the automotive industry and the trend towards automation for production processes are driving the growth of the position sensor market. In the automotive industry, market benefits include high durability, precision, reliability, and non-contact measurement. They perform vehicle efficiency, performance, and safety by providing precision provisional data. Position sensors are essential components designed to measure the angles of engines, monitor the position of the motor, measure seat position, record clutch position, etc., contributing to the growth of the market.

• In April 2024, the sensor company SICK grew and expanded its AI-sensor solutions, and its sales increased by 5.4% to 2.3 million euros. Additionally, the company may record the above 70 patent applications for AI-based automation and software solutions.

Restraint

Limitations of position sensors

The limitations of the position sensors can hamper the growth of the position sensor market. It includes limitations of high expenses for high precision and accuracy requirements, sensitivity to extreme temperatures, dust, and wear & tear, physical size limitations, less sensing angle, wear out because of moving parts, low repeatability, limited frequency, and low accuracy. The output signal created by the position sensor may be interrupted by magnetic and electrical materials.

Opportunity

Opportunities in the sensor technologies

The opportunities in the military & aerospace, and automotive industries contribute to the growth of the position sensor market. Sensor technologies are driving the future of electronics. The 5G-enabled sensors enhance data transmission, augmented reality sensors improve the user experience, biometric sensors improve authentication and security, AI-enabled sensors contribute to new opportunities, wearable sensors allow healthier lives, smart sensors generate new applications, and IoT-enabled sensors demand continues to rise.

• In July 2024, in India, the Moto G85 5G smartphone was launched by Motorola. The smartphone features include a Sony Lytia sensor for the main camera and Gorilla Glass 5 protection the 3D curved display at the front.

Technology Insights

The proximity sensors segment dominated the position sensor market in 2023. Proximity sensors are highly used in manufacturing and industrial applications, mainly in the areas of safety and stock management. It is used for object placement, inspection, counting, and identification in an automated production line. These are also used for consumer electronics. The features of only metal detection are short sensing range, long life, short response time, high precision, usability in severe environments, and non-contact detection.

The proximity sensor advantages include being helpful in many security problems; in terms of power usage, a capacitive sensor is helpful, has power consumption and low cost, operates in critical environmental conditions, has a high switching rate and high speed, has good stability, and also it can detect metals and also non-metals. Applications of proximity sensors include agriculture food manufacturing and processing, level detection, process control, quality assurance and inspection, transportation, logistics, supply chain, and standard object position detection.

• In April 2024, OSLO Norway, Xiaomi’s latest smartphone, the Redmi Turbo 3 smartphone, was launched by a global AI software company and the world leader in AI Virtual Smart Sensors, Elliptic Labs.

The photoelectric sensors segment is expected to be the fastest-growing during the forecast period. The photoelectric sensor emits light from the transmitter, which consists of light-emitting elements.

The types of photoelectric sensors include diffusive sensors, retro-reflective sensors, and through-beam sensors. The photoelectric sensor features include simple optical axis adjustment and wiring. It is not affected by object inclination, color, or gloss and is easy to adjust. The long life of sensors and no contact with objects reduces chances of physical damage, has a high resolution, has a fast response time, and can detect any object, including liquid, wood, plastic, or glass, and long sensing distance.

• In June 2024, in India, Hikrobot launched the new Machine Vision Photoelectric Sensors for different distance detection applications. These photoelectric sensors were launched to allow a high range of applications across the verticals.

Application Insights

The automotive segment dominated the position sensor market in 2023. The position sensors are important components designed to measure the angle of the engines, monitor the motor position, measure seat position, record clutch position, select the gear position, the pedal position of the accelerometer and brakes, track the steering wheel angle, and check the level of fuel. It is used for steering angle detection, brushless motor control, fuel injection, ignition timing, low noise measurement, resilience to shock and vibration, high linearity, and no hysteresis, measuring motor position, seat position, clutch position, gear position, brake pedal position, steering wheel angle, fuel level, and throttle angle.

• In June 2024, Vitesco Technologies reevaluated the new product offering, the Rotor Lock Actuator for EV safety, which is focused on the EV market. The functions of the Rotor Lock Actuator include cutting costs, simplifying system designs, rotor position sensing, and park locking.

The automotive, electronics & semiconductors sectors segment is anticipated to be the fastest-growing during the forecast period. Position sensors in automotive, electronics & semiconductors sectors applications offer many benefits, including use for steering angle detection, brushless motor control, fuel injection, ignition timing, etc. In electronics, position sensors are used to provide counting, motion control, and encoding tasks by determining the absence or presence of a target or by detecting its distance, motion, speed, or direction. It also includes the benefits of the potentiometric sensors being highly accurate and inexpensive; optical sensors have high resolution and are highly accurate, which helps to position sensor market growth.

Position Sensor Market Companies

• Vishay Intertechnology, INC.
• Siemens AG
• Sick AG
• Sensata Technologies
• Schneider Electric SA
• Optek Technology
• Leuze Electronics GmbH + Co. KG
• Keyenence Corporation
• iFM Efector, Inc.
• Honeywell International, Inc.
• Heidenheim
• CTS Corporation
• Bourns, Inc.
• Banner Engineering
• Balluff GmbH

Recent Developments

• In February 2023, Continental launched the new E-motor Rotor Position Sensor. The new E-motor Rotor Position Sensor is more efficient and smoother operations for electric vehicles.
• In October 2023, an IPS (inductive position sensor) technology was developed by Renesas Electronics Corp. for highly precision motor position sensor ICs for medical, robotics, and industrial applications. The use of position-sensing technology and non-contact coil sensors can replace costly optical and magnetic encoders, generally used in motor control systems that need absolute position sensing, high reliability, speed, and accuracy.

Segments Covered in the Report

By Technology

• Photoelectric
• Linear
• Proximity
• Rotary
• Others

By Application

• Automotive
• Military & Aerospace
• Electronics & Semiconductors
• Packaging
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa