New York, NY -- (SBWIRE) -- 10/11/2017 -- Position sensor market is one of the outstandingly increasing market due to increasing investment in manufacturing infrastructure, integration of position sensors in modern automobiles, and growing adoption of position sensors in the aerospace industry. Position sensors are used to measure, How far the body has moved from its reference or initial position. Moreover position sensors are position sensing devices used to measure the distance travelled by the body starting from its reference position. Position sensors measures linear or angular position in reference to a fixed point or arbitrary reference. Automation taking place in manufacturing and industrial units and it is one of the major drivers of position sensor market. Position sensor market. Position sensors are used in an extensive variety of industrial and commercial applications, from Aerospace, Manufacturing and ICT.

Position Sensor Market: Drivers and Challenges

The growth of Position sensor market is propelled by the increasing adaptation of position sensors in the Aviation industry and increasing demand in the manufacturing industry. Position sensors are used in numerous areas in manufacturing industry including material tracking, transit of final goods, operation efficiency etc. The emerging trend towards plant automation and increased demand for vehicle safety are generating high demand for this market, these sensors ensure Vehicle safety, and thus rise in use of vehicles is projected to fuel the growth of position sensor market and the growth in the Automotive Industry directly translates into increasing demand in the Automotive Position Sensor market. Position sensors in Machine tool application is expected to hold the largest size of the position sensor market during the forecast period. It has been assumed that Increasing integration of position sensors in vehicles portray a positive outlook of continuous growth in the Automotive Position Sensor market.

The key challenge for position sensor market is the Lack of Proper Standards to Measure Performance Indicators. Position sensors are lacking to measure performance of an object with whom the sensors are integrated.

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Key Contracts

In May 2015, Dialog Semiconductor, a sensor provider has entered into the partnership with DYNA IMAGE Corporation. This Strategic partnership has to accelerate Dialog's entrance to China's fast-growing consumer markets for Position sensors.

Key Players

Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), ams AG (Germany), Honeywell International, Inc. (US), MTS Systems Corporation (US) Renishaw plc. (UK), Panasonic Corporation (Japan), ,Qualcomm Technologies, Inc. (US), and others.

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Regional Overview

Presently, Asia Pacific (APAC) is holding the largest market share for Position Sensor market due increasing demand from Manufacturing, Healthcare, Consumer electronics and automotive industries. It has been observed that APAC is owing to the increasing focus of the region toward the automotive, consumer electronics, and manufacturing industries. Moreover, America and Europe are the potential market for the consumer electronics, manufacturing and automotive sectors. Due to high demand of position sensors from these sectors will push growth of the position sensor market in America and Europe.