Position Sensor Market Share, Size, Global Trends, Forecast Till 2030 – Delvens

The global Position Sensor Market size was estimated at USD 5.25 billion in 2023 and is projected to reach USD 10.3 billion in 2030 at a CAGR of 10.1% during the forecast period 2023-2030.

The utilization of a position sensor device is common in the measurement of displacement, distance, position, or length for the purpose of automating, testing, or monitoring processes. These sensors can be classified as either absolute or relative (displacement) position sensors. Their applications are widespread, ranging from computer game joysticks, computer hard drives & CD/DVD drives, steering wheels, industrial, and robotics, among others. The increasing trend towards automation of processing systems in industries has led to a surge in demand for position sensors. These sensors find widespread application in the automotive and industrial sectors, including steering wheel position sensing, float-level sensing, and transmission gearbox encoder.