The North America Position Sensor Market would witness market growth of 8.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 3,779.2 thousand units, showcasing a growth of 11.2% (2019-2022).
The market refers to the industry involved in designing, manufacturing, distributing, and utilizing position sensing technologies and solutions. These are devices or systems that detect and measure the position, movement, displacement, or orientation of objects or components in various applications and industries. These sensors provide valuable feedback and data to control systems, machinery, vehicles, and electronic devices, enabling precise positioning, monitoring, and automation of processes.
The market encompasses a wide range of sensor types, including linear position sensors, rotary position sensors, angle sensors, proximity sensors, and displacement sensors, among others. Furthermore, the market occupies a pivotal role in the ever-evolving landscape of technology. Its trajectory is characterized by a relentless pursuit of perfection, driven by the rising demand for greater precision, reliability, and functionality across diverse sectors.
The rising medical device industry in Canada is poised to have a notable impact on the market, driving demand for advanced sensing technologies, fostering innovation, and reshaping the healthcare landscape in the country. According to the International Trade Administration (ITA), in 2022, Canada’s medical device industry size was estimated to be US$6.8 billion. Therefore, the expansion of renewable energy and the rising medical devices sector in the region are propelling the growth of the market.
The US market dominated the North America Position Sensor Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,144.1 million by 2030. The Canada market is experiencing a CAGR of 11.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 10.3% during (2023 - 2030).
Free Valuable Insights: The Position Sensor Market is Predict to reach USD 11.3 Billion by 2030, at a CAGR of 9.3%
Based on Type, the market is segmented into Rotary and Linear. Based on Contact Type, the market is segmented into Non-Contact and Contact. Based on Output, the market is segmented into Digital and Analog. Based on Application, the market is segmented into Machine Tools, Robotics, Motion Systems, Material Handling, Test Equipment and Others. Based on Vertical, the market is segmented into Manufacturing, Packaging, Automotive, Electronics, Aerospace, Healthcare & Lifesciences and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
ByType (Volume, Thousand Units, USD Billion, 2019-2030)
By Contact Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Output (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Vertical (Volume, Thousand Units, USD Billion, 2019-2030)
By Country (Volume, Thousand Units, USD Billion, 2019-2030)
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