Position Sensors Market Share, Size, Trends and Research Report 2016
- Submitted by: Hexareports
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- Category: Other
- Date Submitted: 08/31/2016 11:18 PM
- Pages: 4
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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.
Browse Detail Report With TOC @ http://hexareports.com/report/position-sensors-market/details
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...
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.
Browse Detail Report With TOC @ http://hexareports.com/report/position-sensors-market/details
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...