Position Sensor Market Size- KBV Research
The Global Position Sensor Market size is expected to reach $8 billion by 2025, rising at a market growth of 8.6% CAGR during the forecast period. The basic principles of Position Sensor operation have transformed over the years. The market for these sensors is driven by smaller form factor, less power consumption, higher feature integration, and low cost. Currently, significant investments in R&D by key players have helped to develop smart and intelligent sensor systems for different novel applications in automotive, aerospace & defense, electronics, and healthcare. For instance, Balluff announced to launch Micropulse hazardous area linear Position Sensor, which offers new features such as non-contact, wear-free, magnetostriction technology for long-term reliability, and better performance. Full Report: https://www.kbvresearch.com/position-sensor-market/
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