The global position sensors market share and size is expected to grow during the forecast period, 2019 – 2026.
Various trends in the global automotive sector influences the demand for position sensors.
In addition, growing digitalization in the automotive sector boosts the culture of automation in automotive industrial units.
For instance, autonomous cars, electrification of cars and enhanced connectivity is more likely to influence the market growth.
Moreover, stringent regulations pertaining to safety in automobile sector is contributing to the market growth in the forecast period.Position sensors are deployed for a variety of purpose and commercial applications right from military to automotive and consumer goods.
Position sensors are most important from the commercial aspect since output precision indicates the type of sensor used and also highlighting their respective pros and cons.