Lucintel's latest market report analyzed that position sensor provides attractive opportunities in the automotive, military & aerospace, electronic & semiconductor, and packaging industries. The position sensor market is expected to reach $8.5 billion by 2028 with a CAGR of 9.3%. In this market, photoelectric is the largest segment by technology, whereas automotive is largest by end use industry.
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Based on technology, the position sensor market is segmented into photoelectric, linear, proximity, rotary, and others. The photoelectric segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the increasing use of these sensors in production line equipment to collect sensor-based data.
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The Position Sensor Market is marked by the presence of several big and small players. Some of the prominent players offering position sensor include Balluff GmbH, Banner Engineering, Bourns, CTS, Heidenhain, and Honeywell.
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