Global Position Sensor Market Siz: Growth Trends & Forecast (2024-2030)
Global Position Sensor Market to Reach USD 11.51 Billion by 2030, Driven by Automation and IoT Integration Market Estimation & Definition The Global Position Sensor Market Size was estimated at USD 6.50 billion in 2023 and is expected to get to USD 11.51 billion by 2030 growing at a Compound Annual Growth Rate (CAGR) of 8.5% over the prediction period 2024-2030. Position sensors are very important components that help in detecting and measuring the position of an object/thing in automotive, aerospace, industrial automation, and electronics consumer applications. Sensors are the most important devices that ensure precision, efficiency, and safety in systems where accurate positioning and motion control are required. Growth of position sensor market is significant due to automation, IoT and need of advanced sensing technologies in various manufacturers. With more industries embarking on the journey of automation, implementing smart technologies, position sensors are...