Automotive Position Sensors Market is estimated to be US$ 12377.64 million by 2032 with a CAGR of 6.7% during the forecast period prophecymarketinsights.com

Automotive Position Sensors Market accounted for US$ 6515.3 million in 2022 and is estimated to be US$ 12377.64 million by 2032 and is anticipated to register a CAGR of 6.7%. Automotive position Sensors are used to detect changes in physical phenomena such as pressure, temperature, and velocity. Technological advancements in the automotive industry have created a huge demand for sensors. Automotive sensors help in monitoring the precise condition of vehicles such as oil pressure, temperature, emission level, coolant level and fuel consumption etc. Automotive position sensors are mainly available in the different form of linear sensors, proximity sensors, photoelectric sensors and rotary sensors. Position sensors offer many advantages in automobiles, such as machine tool monitoring, accurate stage positioning of equipment, low power consumption, and high specification integration. Due to strict lockdown regulations in several nations, several manufacturing facilities for automotive position sensors have temporarily shut down, causing supply chain disruption. The global automotive position sensor market, however, is expected to revive from 2021 and continue its moderate growth for the next five years. Position sensors are used for processing, testing and automation, the demand of which will create new growth opportunities for this market in the forecast period.

The report " Global Automotive Position Sensors Market, By Type (Multi-axis, Angular, and Linear), By Application (Passenger Vehicle, and Commercial Vehicle) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

In September 2022, Latest Automotive IC “Firsts” Include Ethernet Switches and IMUs. A handful of automotive component developers have introduced new devices to facilitate next-gen automotive system design by enabling end-to-end networks and advanced position sensing technologies. The BCM8958X is a high bandwidth monolithic automotive Ethernet switch device that will allow in-vehicle. This device meets the needs of the latest vehicle designs, which are integrating complex networks in the vehicle. This network must be organized with improved streamlined communication between sensors, high-resolution cameras and displays.
In September 2022, 80 reference designs released for motor commutation sensors. Each design for inductive position sensors targets a unique motor shaft or pole-pair configuration and comes complete with design files, measurement reports, tools and guidelines.
Analyst View:

Automotive position sensors market is growing around the world, owing to technology developments in sensors that are far more efficient and cost effective in the vehicle. The market size is expected to grow substantially during the forecast period driven by the advent of position and proximity sensors digitalization. Access to advanced automation technologies in various industry sectors will support the adoption of these sensors in manufacturing facilities. As a result, market competition is intensifying and both large international corporations and start-ups are striving to establish a position in the market.

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Key Market Insights from the report:

Global Automotive Position Sensors Market accounted for US$ 6515.3 million in 2022 and is estimated to be US$ 12377.64 million by 2032 and is anticipated to register a CAGR of 6.7%. The Global Automotive Position Sensors Market is segmented based on Type, Application and Region.

Based on Type, Global Automotive Position Sensors Market is segmented into Multi-axis, Angular, and Linear.
Based on Application, Global Automotive Position Sensors Market is segmented into Passenger Vehicle, and Commercial Vehicle.
By Region, the Global Automotive Position Sensors Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Position Sensors Market:

The prominent players operating in the Global Automotive Position Sensors Market include Analog Devices, Avago Technologies, Bosch Sensortec, Bourns, Continental Corporation, CTS Corporation, Delphi Automotive, Denso Corporation, GE Measurement & Control Solutions, and Gill Sensor& Control.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.