Position Sensors Market To Witness a High Growth during 2012 to 2022
The global position sensors market is expected to reach USD 9.93 billion by 2022, according to a new report by Grand View Research, Inc. Increasing demand for electronics and sensor systems in automobiles is expected to augment demand. Factors such as the need for contactless technologies, requirement for lower CO2 emissions, and improvement in reliability and precision are expected to trigger demand over the forecast period. Increasing requirement of accurate sensor performance for detection of reflective objects and signaling the position of moving components in semiconductor and electronics industry is expected to boost the sensor demand over next seven years. Increased awareness regarding vehicle safety and technological advancements are anticipated to drive the global demand for position sensor market. Escalating demand for navigation and GPS-enabled wearable devices and smartphones is expected to further entice growth. U.S. position sensors market by applicati...