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global position sensor market to grow at a CAGR of 7.3% by 2024

Industrial Market Research

The Global Position Sensor Market accounted for USD 3.75 billion in 2016 growing at a CAGR of 7.3% during the forecast period of 2017 to 2024.


Global Position Sensor Market, By Geography; Type (Linear Position Sensor,Rotary Position Sensor); Contact Type (Contact, Non-Contact); Output (Analog, Digital); Application (Test Equipment, Material, Handling, Machine Tools, Motion Systems, Robotics);Industry (Consumer Electronics, Manufacturing, Healthcare, Packaging, Aerospace, Automotive) – Industry Trends and Forecast to 2024

The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Market Definition: Global Position Sensor Market

Position Sensors are the sensors used in measuring the distance travelled by a body from its particular location. Optical position sensors are useful in improving the power management of smart devices; hence, the demand for the position sensor will rise in the near future.It has its wide application in machine tools, test equipment, robotics.