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Position Sensors Market Analysis By Technology (Photoelectric, Linear, Proximity, Rotary), By Application (Automotive, Military & Aerospace, Electronics & Semiconductors, Packaging) And Segment Forecasts To 2022NEW YORK, Aug. 24, 2016 /PRNewswire/ -- The global position sensors market is expected to reach USD 9.93 billion by 2022, according to a new report by Grand View Research, Inc. Increasing demand for electronics and sensor systems in automobiles is expected to augment demand. Factors such as the need for contactless technologies, requirement for lower CO2 emissions, and improvement in reliability and precision are expected to trigger demand over the forecast period. Further key findings from the report suggest: Proximity sensor was valued at over USD 1.5 billion in 2014 and is expected to remain a major segment over the next seven years. Applications of proximity sensors include position, detection, inspection, and counting on automated machines and manufacturing systems. They are also used in machine vibration monitoring to measure variations in distance between a shaft and its support bearing. Photoelectric sensors industry is expected to grow at a CAGR of 5.8% from 2015 to 2022 owing to increased adoption of automation in process, automotive, and food & beverage industries Packaging application is expected to grow at a CAGR of 7.0% from 2015 to 2022. This can be primarily attributed to increasing adoption of sensors in automation to improve performance and reliability. Position sensors in packaging are used for monitoring the position of a moving machine part, detecting the location of label applicator, and end point detection of mechanical part. The Asia Pacific position sensors industry is expected to remain the largest owing to strong demand for high quality precision equipment and consumer electronics demand. The regional industry is expected to account for over 40% by 2022, growing at a CAGR of over 6.0% from 2015 to 2022. Key players in the position sensor market include Honeywell International, Inc., Sick AG, Allegro Microsystems, iFM Elector Inc., Heidenhain, Keyence Corporation, Bourns, Inc., Schneider Electric, Siemens AG, Vishay Intertechnology, Inc., Banner Engineering, Balluff GmbH, and Sensata Technologies. Read the full report: http://www.reportlinker.com/p03847288-summary/view-report.html About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. http://www.reportlinker.com __________________________ To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/position-sensors-market-analysis-by-technology-photoelectric-linear-proximity-rotary-by-application-automotive-military--aerospace-electronics--semiconductors-packaging-and-segment-forecasts-to-2022-300317740.html SOURCE Reportlinker |