Position Sensor Sales To Shoot Up in Asia-Pacific in Coming Years

Apart from the packaging and automobile industries, position sensors are also heavily used in the aerospace industry. Therefore, the increasing manufacturing of aircrafts is also propelling the growth of the position sensor market. As per the estimates of the Indian Brand Equity Foundation (IBEF), the aerospace & defense industry in India is predicted to attain a value of $70 billion by 2030, on account of the surging requirement for advanced infrastructure and supportive government policies.

Due to the aforementioned factors, the revenue of the position sensor market is predicted to grow from $9.1 billion in 2018 to $14.2 billion by 2024. The market is also expected to grow at a CAGR of 7.7% from 2019 to 2024. Depending on type, the market is classified into linear and rotary. Between these, the rotary category contributed higher revenue to the market in 2018.




These sensors are extensively used in various consumer electronic devices and also for pedal and throttle position detection and control in vehicles. On the other hand, in the upcoming years, the linear category is predicted to demonstrate faster growth in the market. Geographically, the position sensor market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years, as per the estimates of the market research company, P&S Intelligence.

This is ascribed to the burgeoning requirement for automobiles and consumer electronics in the regional countries, on account of the surging population. Hence, it can be said without any hesitation that the demand for position sensors will skyrocket in the upcoming years, mainly because of the surging manufacturing of automobiles and consumer electronic devices, especially in the APAC region.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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