How Are Position Sensors Making Factories Smarter?

Posted 2 years ago in NEWS.

This is also why Asia-Pacific (APAC) has been the largest position sensor market up till now.

How Are Position Sensors Making Factories Smarter?

91,786,861 automobiles were manufactured around the world in 2019, increasing massively from 56,258,892 in 1999, says Organisation Internationale des Constructeurs d'Automobiles (OICA). This is due to the increasing disposable income of people in developing countries, who are now purchasing vehicles as a show of their economic status. This has led to a rising demand for iron and aluminum sheets for the main body and chassis, engine and related drivetrain components, and also various smaller instruments.

One such instrument that goes into automobiles, which a large number of people don’t know about, is a position sensor. It is used to determine the position of the steering wheel, pedals, seats, and various knobs, valves, and actuators. Therefore, with the increasing automotive production, the position sensor market is expected to advance to $14.2 billion by 2024 from $9.1 billion in 2018, at a steady 7.7% CAGR between 2019 and 2024, claims industry research firm P&S Intelligence.

Of the two types of position sensors available — non-contact and contact — contact position sensors are more popular, as they are cost-effective. In the years to come though, with the increasing application areas of such devices, including those where the surface cannot be touched, the demand for non-contact variants would rise faster. Additionally, smart non-contact position sensors are being developed that can calibrate themselves, are accurate for measurements in micrometer and nanometer ranges, and can be used in harsh conditions in the aerospace and healthcare industries.

Of all the sectors where these instruments are utilized, such as aerospace, automotive, packaging, consumer electronics, healthcare, manufacturing, oil & gas, and power generation, the automotive industry makes the most use of them. This is simply because of the rapidly increasing vehicle production, especially in Japan, China, South Korea, and India. In these countries, subsidies and other financial incentives are being offered on the purchase of electric vehicles (EV). For instance, China started offering a $10,000 subsidy on the purchase of every EV in 2017, and, thus, EV sales increased by 42% between 2016 and 2017.