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Position Sensor Worth $10.07Bn by 2026

Global Market for Position Sensors at CAGR of 10.0% and is forecast to reach $10.07Bn by 2026 states TMR Study

Position SensorAccording to Stratistics MRC, the Global Position Sensor market accounted for $4.27 billion in 2017 and is expected to reach $10.07 billion by 2026 growing at a CAGR of 10.0% during the forecast period.

Increasing adoption for these sensors in the automobile industry and rising in the usage of these sensors in aerospace Industry is driving the market growth.

However, the high cost of ownership is the restraining factor for the market growth. Moreover, increasing trend of industrial automation and high potential for industrial robotics applications will provide ample opportunities for market growth.

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Niloy Banerjee

A generic movie-buff, passionate and professional with print journalism, serving editorial verticals on Technical and B2B segments, crude rover and writer on business happenings, spare time playing physical and digital forms of games; a love with philosophy is perennial as trying to archive pebbles from the ocean of literature. Lastly, a connoisseur in making and eating palatable cuisines.

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