Latest Study - Position Sensors Market Share, Growth Prospects To 2022: Grand View Research, Inc.
Grand View Research.com has announced the addition of "Position Sensors Market Analysis and Segment Forecasts To 2022" Market Research report to their Database.
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.
Increasing requirement of accurate sensor performance for detection of reflective objects and signaling the position of moving components in semiconductor and electronics industry is expected to boost the sensor demand over next seven years.
Increased awareness regarding vehicle safety and technological advancements are anticipated to drive the global demand for position sensor market. Escalating demand for navigation and GPS-enabled wearable devices and smartphones is expected to further entice growth.
Growing requirement of time-proven positioning sensing technology and highly customized solutions for mission critical needs in military and aerospace applications is anticipated to augment the demand for these sensors. Stringent vehicle emission regulations in several countries worldwide are encouraging the adoption across various verticals.
However, lack of product differentiation is expected to challenge industry growth. A large number of players offer products based on similar technological foundation. This propels industry players to compete with large manufacturers for high-volume contracts and is thus exposed to corresponding pricing pressure.
In this price sensitive market, it has been a difficult task for these manufacturers to differentiate their products with any factor other than price.Extensive R&D investment in order to obtain competitive advantage is also expected to result in frequent strategic alliances and acquisitions.
Browse full research report on Global Position Sensors Market: http://www.grandviewresearch.com/industry-analysis/position-sensors-market
Further key findings from the report suggest:
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Grand View Research has segmented the position sensors market on the basis of technology, application, and region:
Position Sensors Technology Outlook (Revenue, USD Million, 2012 – 2022)
Position Sensors Application Outlook (Revenue, USD Million, 2012 – 2022)
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/sensors-and-controls
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