Position Sensor Market
PUBLISHED: 2023 ID: SMRC22750
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Position Sensor Market

Position Sensor Market Forecasts to 2028 - Global Analysis By Type (Linear Position Sensors and Rotary Position Sensors), Specification (Non-Contact and Contact), Output (Digital and Analogue), Application (Machine Tools, Material Handling, Motion Systems, Robotics, Test Equipment and Other Applications), End User (Aerospace, Automotive, Other End Users) and By Geography

4.5 (38 reviews)
4.5 (38 reviews)
Published: 2023 ID: SMRC22750

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $5.81 BN

Projected Year Value (2028)

US $10.98 BN

CAGR (2022 - 2028)

11.2%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Europe

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Position Sensor Market is accounted for $5.81 billion in 2022 and is expected to reach $10.98 billion by 2028 growing at a CAGR of 11.2% during the forecast period. A position sensor is a device that measures position when displacement, distance, position, or length measurements are used to automate, test, or monitor processes. They are frequently utilized in a variety of devices, including robotics, industrial machinery, computer hard drives, CD/DVD drives, and steering wheels. Position sensors are becoming more and more important as more small and medium-sized end users learn about them. Because of ongoing technological advancements in optical position sensors, the market is expected to expand.

According to USDA, the adoption of precision technology in corn cultivation can add marginal gains of USD 3.73 to the net returns of USD 85.0 fetched by the US corn farmers.



Market Dynamics:

Driver:

Industry 4.0 to drive the market growth

Industry 4.0 has facilitated the quick development of cutting-edge technologies, encouraging industry manufacturers to automate industrial processes. Industrial producers in many different regions are primarily making investments to upgrade their manufacturing facilities through the use of fully automated machine tools. For instance, the IFR (International Federation of Robotics) reports that nearly 373,000 industrial robot units were shipped worldwide in 2019. A recent report from World Robotics 2020 Industrial Robots also mentioned a 12% increase in the number of industrial robots operating in factories around the world, for a record-breaking total of 2.7 million robots. The market for position sensors has thus expanded due to manufacturers' propensity for automation.

Restraint:

High cost of ownership

Numerous parts, including position magnets, sensing rods, electronics housing fixtures, diagnostic light-emitting diodes (LEDs), and connectors—all of which are supplied by different vendors—are used in the manufacturing and assembly of a position sensor. The cost and availability of raw materials and components, as well as the length of time it takes to introduce a product to the market, are the main factors that affect profitability. Since they are created to meet the needs of the end user, position sensors can be made to order. Every application requires a different specification for these sensors, which drives up their price. Such aspects hinder market expansion.

Opportunity:

Growth and expansion in small scale businesses

The semiconductor and electronics industry has a tremendous amount of room to grow as a result of the improving global economy. The use of advanced technologies is receiving more attention from the major manufacturers, which will increase the potential for growth. Growth in market value is fueled by increasing urbanization, modernization, and globalization. Other factors influencing market growth include the rise in cyberthreats and security breach worries, improvements in position sensor technology, and increased awareness of vehicle safety and technological advancements by the automotive industry. Additionally, during the forecast period, profitable opportunities are made available to market participants by advances in manufacturing technology.

Threat:

Lack of standards to measure performance indicators

The definitions of terms like precision, non-linearity, accuracy, and resolutions are currently lacking and differ greatly between manufacturers and researchers. Additionally, the design and fit of position sensors vary depending on the application. The majority of the major industry players have their own methods for building these sensors. As a result, it is challenging to extrapolate the performance of a position sensor from a set of specifications due to the absence of global standards. Because OEMs can't use these sensors interchangeably for various applications, this factor is also impeding the adoption of position sensors in various applications.

Covid-19 Impact

The COVID-19 outbreak has proven to be a tragedy for the industry. Due to the coronavirus pandemic, business activity has been suspended, and there have been disruptions to international supply chains, border restrictions, and travel bans by government agencies as a result of the pandemic. The strict measures to limit commercial activities caused a slowdown in the market's growth rate. However, following global easing and the slow recovery from the pandemic in some nations, including China, Germany, and France, the market is anticipated to rise.

The digital segment is expected to be the largest during the forecast period

Due to factors like their pervasive use in the manufacturing of high-volume, inexpensive, and small-size devices, digital position sensors will hold the largest share over the prediction period. In 2022, the digital segment accounted for 56.5% of market share. Furthermore, it offers low-cost customer-specific versions and has a potentiometer, voltage, current, or incremental encoder in its signal output, which are driving the segment expansion.

The non-contact segment is expected to have the highest CAGR during the forecast period

During the forecast period, the non-contact segment is expected to witness lucrative growth. Users of non-contact technology benefit from its simplicity, dependability, resistance to contamination, and high accuracy. Compared to position sensors that use contact technology, contactless position sensors are more durable and have higher resolution capabilities. Contactless position sensors are anticipated to maintain their lucrative position in this market because non-contact position sensors are available in a wide variety of sizes, shapes, and measurement principles and can be used in a wide range of applications, including automotive, industrial, and consumer electronics.

Region with largest share:

Europe accounted for 40% of the market for position sensors, and it is anticipated that it will continue to hold the largest share throughout the forecast period. The major contributors to the expansion of the position sensor market in Europe are Germany, the UK, France, and Italy. Europe has a robust industrial base and is renowned throughout the world for its exceptional engineering capabilities, top-notch workforce, and R&D endeavors. With companies like Volkswagen (Germany), Daimler (Germany), Airbus (Netherlands), Dassault Aviation (France), and Novartis (Switzerland) in the area, the demand for laser goods and solutions is anticipated to increase.

Region with highest CAGR:

Due to the ongoing demand from a variety of industry verticals for inexpensive and highly effective position sensors, the Asia-Pacific region is anticipated to experience the highest growth rate during the forecast period. This is a result of the region's rapidly growing populations, which are driving up demand for automobiles and consumer electronics. As the region's two largest auto producers, particularly of electric vehicles, China and Japan serve as the primary engines of industry growth in the area. Due to their severe air pollution problems, both of these nations are providing financial incentives to promote EV adoption and production. The significance of such devices in automobiles is primarily what drives the position sensor market in the region.



Key players in the market

Some of the key players profiled in the Position Sensor Market include Allegro Microsystems Inc., AMS OSRAM AG, Balluff GmbH, Bourns, Inc, CTS Corporation, Dr. Johannes Heidenhain GmbH, Hans Turck GmbH & Co. Kg, Honeywell International, Inc., iFM Efector, Inc., Infineon Technologies AG, Keyence Corporation, Leuze Electronics GmbH & Co. KG, MTS Systems, Novotechnik Messwertaufnehmer Ohg, Optek Technology, Qualcomm Technologies, Inc, Renishaw plc, Schneider Electric SA, Sensata Technologies, Sick AG, Siemens AG, STMicroelectronics N.V., TE Connectivity and Vishay Intertechnology, Inc.

Key Developments:

In March 2023, Allegro MicroSystems, a global leader in power and sensing solutions for motion control and energy efficient systems, announces the release of samples for the ACS37601, an ASIL C safety rated, high-precision, field current sensor with best-in-class accuracy for traction and auxiliary inverter systems as well as battery management systems (BMS) in electric vehicles (EVs).

In February 2023, CTS Corporation announced the acquisition of maglab AG, a privately held magnetic system design and current measurement solution provider. Based in Basel, Switzerland, maglab offers products designed for smart and fail-safe position and current measurement for electric mobility, renewable energy, robotics, and automation. The company leverages magnetic material and sensor engineering experience to deliver solutions to fit customers’ unique applications.

In November 2022, Allegro MicroSystems, Inc. a global leader in sensing and power solutions for motion control and energy-efficient systems, announced the A31316 3D Hall-effect position sensor, the latest addition to the company’s 3DMAG™ line of 3D sensors. Offered in an industry-smallest 4 × 4 mm body PCB-less package, this new sensor is ideal for automotive safety and advanced driver assistance systems (ADAS) applications that require high levels of flexibility and reliable performance in harsh conditions such as powertrain and chassis applications, as well as industrial applications that require linear or rotary sensing.

Types Covered:
• Linear Position Sensors
• Rotary Position Sensors

Specification Covered:
• Non-Contact
• Contact

Outputs Covered:
• Digital
• Analogue

Applications Covered:
• Machine Tools
• Material Handling
• Motion Systems
• Robotics
• Test Equipment
• Other Applications

End Users Covered:
• Aerospace
• Automotive
• Electronics
• Healthcare
• Manufacturing
• Packaging
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Position Sensor Market, By Type
5.1 Introduction
5.2 Linear Position Sensors
5.3 Rotary Position Sensors

6 Global Position Sensor Market, By Specification
6.1 Introduction
6.2 Non-Contact
6.3 Contact

7 Global Position Sensor Market, By Output
7.1 Introduction
7.2 Digital
7.2.1 BiSS-C
7.2.2 Synchronous Serial Interface (SSI)
7.2.3 Serial Peripheral Interface (SPI)
7.3 Analogue

8 Global Position Sensor Market, By Application
8.1 Introduction
8.2 Machine Tools
8.3 Material Handling
8.4 Motion Systems
8.5 Robotics
8.6 Test Equipment
8.7 Other Applications

9 Global Position Sensor Market, By End User
9.1 Introduction
9.2 Aerospace
9.3 Automotive
9.4 Electronics
9.5 Healthcare
9.6 Manufacturing
9.7 Packaging
9.8 Other End Users

10 Global Position Sensor Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Allegro Microsystems Inc.
12.2 AMS OSRAM AG
12.3 Balluff GmbH
12.4 Bourns, Inc
12.5 CTS Corporation
12.6 Dr. Johannes Heidenhain GmbH
12.7 Hans Turck GmbH & Co. Kg
12.8 Honeywell International, Inc.
12.9 iFM Efector, Inc.
12.10 Infineon Technologies AG
12.11 Keyence Corporation
12.12 Leuze Electronics GmbH & Co. KG
12.13 MTS Systems
12.14 Novotechnik Messwertaufnehmer Ohg
12.15 Optek Technology
12.16 Qualcomm Technologies, Inc
12.17 Renishaw plc
12.18 Schneider Electric SA
12.19 Sensata Technologies
12.20 Sick AG
12.21 Siemens AG
12.22 STMicroelectronics N.V.
12.23 TE Connectivity
12.24 Vishay Intertechnology, Inc.

List of Tables
1 Global Position Sensor Market Outlook, By Region (2020-2028) ($MN)
2 Global Position Sensor Market Outlook, By Type (2020-2028) ($MN)
3 Global Position Sensor Market Outlook, By Linear Position Sensors (2020-2028) ($MN)
4 Global Position Sensor Market Outlook, By Rotary Position Sensors (2020-2028) ($MN)
5 Global Position Sensor Market Outlook, By Specification (2020-2028) ($MN)
6 Global Position Sensor Market Outlook, By Non-Contact (2020-2028) ($MN)
7 Global Position Sensor Market Outlook, By Contact (2020-2028) ($MN)
8 Global Position Sensor Market Outlook, By Output (2020-2028) ($MN)
9 Global Position Sensor Market Outlook, By Digital (2020-2028) ($MN)
10 Global Position Sensor Market Outlook, By BiSS-C (2020-2028) ($MN)
11 Global Position Sensor Market Outlook, By Synchronous Serial Interface (SSI) (2020-2028) ($MN)
12 Global Position Sensor Market Outlook, By Serial Peripheral Interface (SPI) (2020-2028) ($MN)
13 Global Position Sensor Market Outlook, By Analogue (2020-2028) ($MN)
14 Global Position Sensor Market Outlook, By Application (2020-2028) ($MN)
15 Global Position Sensor Market Outlook, By Machine Tools (2020-2028) ($MN)
16 Global Position Sensor Market Outlook, By Material Handling (2020-2028) ($MN)
17 Global Position Sensor Market Outlook, By Motion Systems (2020-2028) ($MN)
18 Global Position Sensor Market Outlook, By Robotics (2020-2028) ($MN)
19 Global Position Sensor Market Outlook, By Test Equipment (2020-2028) ($MN)
20 Global Position Sensor Market Outlook, By Other Applications (2020-2028) ($MN)
21 North America Position Sensor Market Outlook, By Country (2020-2028) ($MN)
22 North America Position Sensor Market Outlook, By Type (2020-2028) ($MN)
23 North America Position Sensor Market Outlook, By Linear Position Sensors (2020-2028) ($MN)
24 North America Position Sensor Market Outlook, By Rotary Position Sensors (2020-2028) ($MN)
25 North America Position Sensor Market Outlook, By Specification (2020-2028) ($MN)
26 North America Position Sensor Market Outlook, By Non-Contact (2020-2028) ($MN)
27 North America Position Sensor Market Outlook, By Contact (2020-2028) ($MN)
28 North America Position Sensor Market Outlook, By Output (2020-2028) ($MN)
29 North America Position Sensor Market Outlook, By Digital (2020-2028) ($MN)
30 North America Position Sensor Market Outlook, By BiSS-C (2020-2028) ($MN)
31 North America Position Sensor Market Outlook, By Synchronous Serial Interface (SSI) (2020-2028) ($MN)
32 North America Position Sensor Market Outlook, By Serial Peripheral Interface (SPI) (2020-2028) ($MN)
33 North America Position Sensor Market Outlook, By Analogue (2020-2028) ($MN)
34 North America Position Sensor Market Outlook, By Application (2020-2028) ($MN)
35 North America Position Sensor Market Outlook, By Machine Tools (2020-2028) ($MN)
36 North America Position Sensor Market Outlook, By Material Handling (2020-2028) ($MN)
37 North America Position Sensor Market Outlook, By Motion Systems (2020-2028) ($MN)
38 North America Position Sensor Market Outlook, By Robotics (2020-2028) ($MN)
39 North America Position Sensor Market Outlook, By Test Equipment (2020-2028) ($MN)
40 North America Position Sensor Market Outlook, By Other Applications (2020-2028) ($MN)
41 Europe Position Sensor Market Outlook, By Country (2020-2028) ($MN)
42 Europe Position Sensor Market Outlook, By Type (2020-2028) ($MN)
43 Europe Position Sensor Market Outlook, By Linear Position Sensors (2020-2028) ($MN)
44 Europe Position Sensor Market Outlook, By Rotary Position Sensors (2020-2028) ($MN)
45 Europe Position Sensor Market Outlook, By Specification (2020-2028) ($MN)
46 Europe Position Sensor Market Outlook, By Non-Contact (2020-2028) ($MN)
47 Europe Position Sensor Market Outlook, By Contact (2020-2028) ($MN)
48 Europe Position Sensor Market Outlook, By Output (2020-2028) ($MN)
49 Europe Position Sensor Market Outlook, By Digital (2020-2028) ($MN)
50 Europe Position Sensor Market Outlook, By BiSS-C (2020-2028) ($MN)
51 Europe Position Sensor Market Outlook, By Synchronous Serial Interface (SSI) (2020-2028) ($MN)
52 Europe Position Sensor Market Outlook, By Serial Peripheral Interface (SPI) (2020-2028) ($MN)
53 Europe Position Sensor Market Outlook, By Analogue (2020-2028) ($MN)
54 Europe Position Sensor Market Outlook, By Application (2020-2028) ($MN)
55 Europe Position Sensor Market Outlook, By Machine Tools (2020-2028) ($MN)
56 Europe Position Sensor Market Outlook, By Material Handling (2020-2028) ($MN)
57 Europe Position Sensor Market Outlook, By Motion Systems (2020-2028) ($MN)
58 Europe Position Sensor Market Outlook, By Robotics (2020-2028) ($MN)
59 Europe Position Sensor Market Outlook, By Test Equipment (2020-2028) ($MN)
60 Europe Position Sensor Market Outlook, By Other Applications (2020-2028) ($MN)
61 Asia Pacific Position Sensor Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Position Sensor Market Outlook, By Type (2020-2028) ($MN)
63 Asia Pacific Position Sensor Market Outlook, By Linear Position Sensors (2020-2028) ($MN)
64 Asia Pacific Position Sensor Market Outlook, By Rotary Position Sensors (2020-2028) ($MN)
65 Asia Pacific Position Sensor Market Outlook, By Specification (2020-2028) ($MN)
66 Asia Pacific Position Sensor Market Outlook, By Non-Contact (2020-2028) ($MN)
67 Asia Pacific Position Sensor Market Outlook, By Contact (2020-2028) ($MN)
68 Asia Pacific Position Sensor Market Outlook, By Output (2020-2028) ($MN)
69 Asia Pacific Position Sensor Market Outlook, By Digital (2020-2028) ($MN)
70 Asia Pacific Position Sensor Market Outlook, By BiSS-C (2020-2028) ($MN)
71 Asia Pacific Position Sensor Market Outlook, By Synchronous Serial Interface (SSI) (2020-2028) ($MN)
72 Asia Pacific Position Sensor Market Outlook, By Serial Peripheral Interface (SPI) (2020-2028) ($MN)
73 Asia Pacific Position Sensor Market Outlook, By Analogue (2020-2028) ($MN)
74 Asia Pacific Position Sensor Market Outlook, By Application (2020-2028) ($MN)
75 Asia Pacific Position Sensor Market Outlook, By Machine Tools (2020-2028) ($MN)
76 Asia Pacific Position Sensor Market Outlook, By Material Handling (2020-2028) ($MN)
77 Asia Pacific Position Sensor Market Outlook, By Motion Systems (2020-2028) ($MN)
78 Asia Pacific Position Sensor Market Outlook, By Robotics (2020-2028) ($MN)
79 Asia Pacific Position Sensor Market Outlook, By Test Equipment (2020-2028) ($MN)
80 Asia Pacific Position Sensor Market Outlook, By Other Applications (2020-2028) ($MN)
81 South America Position Sensor Market Outlook, By Country (2020-2028) ($MN)
82 South America Position Sensor Market Outlook, By Type (2020-2028) ($MN)
83 South America Position Sensor Market Outlook, By Linear Position Sensors (2020-2028) ($MN)
84 South America Position Sensor Market Outlook, By Rotary Position Sensors (2020-2028) ($MN)
85 South America Position Sensor Market Outlook, By Specification (2020-2028) ($MN)
86 South America Position Sensor Market Outlook, By Non-Contact (2020-2028) ($MN)
87 South America Position Sensor Market Outlook, By Contact (2020-2028) ($MN)
88 South America Position Sensor Market Outlook, By Output (2020-2028) ($MN)
89 South America Position Sensor Market Outlook, By Digital (2020-2028) ($MN)
90 South America Position Sensor Market Outlook, By BiSS-C (2020-2028) ($MN)
91 South America Position Sensor Market Outlook, By Synchronous Serial Interface (SSI) (2020-2028) ($MN)
92 South America Position Sensor Market Outlook, By Serial Peripheral Interface (SPI) (2020-2028) ($MN)
93 South America Position Sensor Market Outlook, By Analogue (2020-2028) ($MN)
94 South America Position Sensor Market Outlook, By Application (2020-2028) ($MN)
95 South America Position Sensor Market Outlook, By Machine Tools (2020-2028) ($MN)
96 South America Position Sensor Market Outlook, By Material Handling (2020-2028) ($MN)
97 South America Position Sensor Market Outlook, By Motion Systems (2020-2028) ($MN)
98 South America Position Sensor Market Outlook, By Robotics (2020-2028) ($MN)
99 South America Position Sensor Market Outlook, By Test Equipment (2020-2028) ($MN)
100 South America Position Sensor Market Outlook, By Other Applications (2020-2028) ($MN)
101 Middle East & Africa Position Sensor Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Position Sensor Market Outlook, By Type (2020-2028) ($MN)
103 Middle East & Africa Position Sensor Market Outlook, By Linear Position Sensors (2020-2028) ($MN)
104 Middle East & Africa Position Sensor Market Outlook, By Rotary Position Sensors (2020-2028) ($MN)
105 Middle East & Africa Position Sensor Market Outlook, By Specification (2020-2028) ($MN)
106 Middle East & Africa Position Sensor Market Outlook, By Non-Contact (2020-2028) ($MN)
107 Middle East & Africa Position Sensor Market Outlook, By Contact (2020-2028) ($MN)
108 Middle East & Africa Position Sensor Market Outlook, By Output (2020-2028) ($MN)
109 Middle East & Africa Position Sensor Market Outlook, By Digital (2020-2028) ($MN)
110 Middle East & Africa Position Sensor Market Outlook, By BiSS-C (2020-2028) ($MN)
111 Middle East & Africa Position Sensor Market Outlook, By Synchronous Serial Interface (SSI) (2020-2028) ($MN)
112 Middle East & Africa Position Sensor Market Outlook, By Serial Peripheral Interface (SPI) (2020-2028) ($MN)
113 Middle East & Africa Position Sensor Market Outlook, By Analogue (2020-2028) ($MN)
114 Middle East & Africa Position Sensor Market Outlook, By Application (2020-2028) ($MN)
115 Middle East & Africa Position Sensor Market Outlook, By Machine Tools (2020-2028) ($MN)
116 Middle East & Africa Position Sensor Market Outlook, By Material Handling (2020-2028) ($MN)
117 Middle East & Africa Position Sensor Market Outlook, By Motion Systems (2020-2028) ($MN)
118 Middle East & Africa Position Sensor Market Outlook, By Robotics (2020-2028) ($MN)
119 Middle East & Africa Position Sensor Market Outlook, By Test Equipment (2020-2028) ($MN)
120 Middle East & Africa Position Sensor Market Outlook, By Other Applications (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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