The report titled “Global Position and Proximity Sensors Market:Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global position and proximity sensors market in terms of market segmentation by product, by application, by end-users and by region.
The market can be segmented on the basis of product, application and end-users. On the basis of application, it is sub-segmented into magneto strictive linear position sensors, linear voltage differential transformer, eddy current linear position sensors, capacitive linear position sensors, ultrasonic linear position and proximity sensors, fiber-optic linear position sensors, capacitive proximity sensors and magnetic proximity sensors. On the basis of application, it is sub-segmented into test equipment, machine tools, material handling, motion systems, robotics and others. On the basis of end-user, it is sub-segmented into industrial, automotive, aerospace and defense, healthcare, security, transport,consumer and home appliances, IT infrastructure, energy and utility and others.
On the basis of regional analysis, global position and proximity sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia-Pacific is anticipated to be largest region for the position and proximity sensors market during the forecast period.
The increasing industrialization in the region coupled with the expansion of various end-user industries propel the market growth of Position and Proximity Sensorsduring the forecast period. North America is anticipated to exhibit significant growth during the forecast period. The high adoption of the automation in the region coupled with growing awareness regarding sensor is expected to fuel the market growth of the position and proximity sensors in the region. Additionally, the highly developed industrial sector in the region also supports the position and proximity sensors market growth during the forecast period.
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Position and proximity sensors market is anticipated to record a CAGR of 6% over the forecast period. The growing automation coupled with rise in demand for superior sensors system is expected to be major reason for the growth in the overall market during the forecast period. Additionally, the technological development including IIoT (Industrial internet of things) is driving the market growth during the forecast period.
Increasing technological development across the globe is anticipated to fuel the position and proximity sensors market
The growing technological development coupled with the advent of technologies including IIoT is driving the position and proximity sensors market. Additionally, increasing penetration of automation and digitalization across various industries is also facilitating the overall market.
On the whole, the report depicts detailed overview of the global position and proximity sensors market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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