Linear Displacement Sensor Market
Linear Displacement Sensor Market (Type: Capacitive, Inductive, Magnetic, Optical, Laser, LVDT, Potentiometric, Ultrasonic, and Others; Industry Vertical: Aerospace & Defense, Assembly/Robotics, Automotive, Electronics & Semiconductor, Food & Beverages, Life Sciences, Machine Tools, Material Handling, Metals & Metalworking, Metrology, Oil & Gas, Packaging, Power Generation, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2025
Press Release :
Increasing Emphasis on Industrial Automation and Demand for Wireless Sensors to Drive Innovations
Linear displacement sensors are extensively used across a host of industrial verticals, including food & beverages, automotive, aerospace, oil & gas, packaging, machine tools, and power generation. Linear displacement sensors are primarily used in any application wherein the measurement of linear movement is required. Due to this, the demand for linear displacement sensors is on the rise across a plethora of industrial domains. As the emphasis on industrial automation continues to grow around the global industrial sector, the demand for cloud-connected and wireless sensors is on the rise.
Companies operating in the current linear displacement sensor market are increasingly focusing on introducing innovative and cutting-edge linear displacement sensors that are developed in line with applications and requirements of various industries. Furthermore, market players are also focusing on improving the accuracy and reliability of linear displacement sensors to gain a competitive edge in the current market landscape. Advancements in technology coupled with the increasing demand for small and miniature sensors are factors projected to aid the growth of the global current linear displacement sensor market during the forecast period. Due to the steep ownership and costs associated with linear displacement sensors, the demand is expected to remain relatively slow in the first half of the forecast period. However, as the technology matures and the ownership costs reduce, the adoption of linear displacement sensors is expected to increase.
At the back of these factors, along with expanding applications of linear displacement sensors across various industrial sectors, the global current linear displacement sensor market is on course to reach US$ 2.6 Bn mark by the end of 2025.
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Increasing Demand for LVDT Sensors to Bolster Market Growth
Out of the various types of linear displacement sensors, the demand for linear variable differential transformers (LVDT) is expected to remain the highest during the course of the forecast period. Furthermore, LVDT sensors have, time and again, proved to be an ideal sensor technology in various industrial automation processes and the Internet of Things (IoT) applications, owing to the accurate feedback on product movement– a critical requirement in modern automated systems. The increasing demand for LVDT sensors from a range of industrial sectors, including construction, automotive, aerospace, and electronics is a key factor expected to drive the expansion of the global current linear displacement sensor market during the assessment period.
The electronics sector is projected to provide lucrative opportunities to the players operating in the current linear displacement sensor market, as the demand for intricate and miniature electrical components is on the rise. In addition, the increasing demand for precision measurements that comply with quality control and stringent regulatory standards is another factor projected to bolster the demand for linear displacement sensors during the assessment period.
Aerospace and energy sectors are among key end-use industries of the linear displacement sensors, as the need to comply with the safety standards is a prerequisite.
Market Players to Focus on Expanding Product Portfolio to Gain Competitive
Players operating in the current linear displacement sensor market are increasingly focusing on research and development to improve the quality and performance of their products to gain a competitive edge. Furthermore, several market players are also emphasizing on expanding their product portfolio to improve their position in the market. For instance, in June 2020, Micro-Epilson announced the launch of a new confocal sensor that is likely to be used in applications that require precise measurements of thickness and distance. In February 2020, Panasonic Corporation announced that the company has developed a time-of-flight image sensor that utilizes avalanche photodiode (APD) pixels.
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Market Growth to Remain Slower than Initial Predictions amid COVID-19 Pandemic
The onset of the COVID-19 pandemic is anticipated to slow down the growth of the linear displacement sensor market in 2020. Stringent lockdown restrictions and restrictions on trade and transportation are among key factors that are likely to disrupt the supply chain in 2020. In addition, the industrial shutdown of various countries around the world, particularly China, in the first quarter of 2020, has led to severe shortage of raw materials and components that are required for the production of linear displacement sensors. The market is expected to show signs of recovery toward the last quarter of 2020, as lockdown restrictions are being gradually lifted in various regions worldwide.
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The global linear displacement sensor market is expected to expand at an impressive CAGR of ~9% during the assessment period. The market growth is driven by three major factors – increasing focus on automating industrial processes, rising need to comply with safety standards and regulatory framework, and advancements in technology. Market players operating in the current market landscape should focus on expanding their product portfolio to gain a competitive edge in the current market landscape.
Linear Displacement Sensor Market: Overview
- According to Transparency Market Research’s latest research report on the global linear displacement sensor market for the historical period 2018–2019 and the forecast period 2020–2025, rising demand for small and light miniature sensors and increasing adoption of LVDT sensors in multiple industrial fields are factors expected to boost the global linear displacement sensor market during the forecast period. However, some factors are also hampering the growth of the linear displacement sensor market. These include high cost of ownership of liner displacement sensors.
- In terms of revenue, the global linear displacement sensor market is estimated to reach a value of US$ 2.6 Bn by 2025, expanding at a CAGR of ~9% during the forecast period
Increase in Adoption of LVDT Sensors in Multiple Industrial Fields
- In the linear displacement sensor market, based on type, Linear Variable Differential Transformer (LVDT) is an electromechanical device, which is used to convert mechanical motion or vibrations, specifically rectilinear motion into a variable electrical current, voltage, or electric signals
- In LVDT transducers, there is no physical electrical contact across the transducer position sensing element, owing to which it has an infinite resolution and a very long life cycle
- Moreover, LVDT sensor devices offer several advantages. They are lightweight and compact in size, consume low power, and have very low output impedance.
- Based on these advantages, LVDT’s are engineered and designed to accommodate many industry applications, such as aerospace & defense, power turbines, automation, and hydraulics
- LVDT sensors are a type of linear displacement sensor, and usage of LVDT sensors in industrial equipment is likely to be implemented in the linear displacement sensor market. Thus, adoption of LVDT in multiple industrial fields is significantly high, which is expected to drive the growth of the global linear displacement sensor market during the forecast period.
High Demand for Small and Light Miniature Sensors
- Ultrasonic sensors are all-rounders in the field of sensors and are suitable for virtually any detection task in industrial applications, as ultrasonic sensors are capable of detecting an object in any form - solid, liquid, granular, or powder. Ultrasonic sensors are also a type of linear displacement sensors.
- Majority of ultrasonic sensors are based on the principle of measuring the propagation time of sound between send and receive (proximity switch). Efficiency of ultrasonic sensors is significantly high even in harsh working environments and its reliability is not adversely affected by smoke, dust, or moisture.
- In the automotive sector, ultrasonic sensors are used in ADAS (Advanced Driver-Assistant Systems) applications, specifically for parking assistance. Moreover, in the industrial sector, ultrasonic sensors are used in robotics and other applications that require reliable presence, proximity, or position sensing.
Miniaturization of ultrasonic sensors (a type of linear displacement sensor) is a trend these days. Thus, increasing demand for small size ultrasonic sensors in the automotive and robotics field is projected to have a positive impact on the global linear displacement sensor market during the forecast period.
Rise in Applications of Linear Displacement Sensors Worldwide
- Adoption of linear displacement sensors in aerospace & defense, automotive, and industrial robotics is rising at a prominent rate across the world, especially in the U.S., France, the U.K., China, Japan, and India. Factors driving the global linear displacement sensor market are focusing of manufacturing industry on accurate measurements and detailed inspection in machine tools, electronics & semiconductor, aerospace & defense, and automotive sectors.
- Demand for linear displacement sensors is also increasing with the growth of the global automotive industry, and countries are focused on adopting latest technology such as Advanced Driver Assistance Systems (ADAS) in vehicles for parking assistance that uses ultrasonic sensors. These are some of the trends that are impacting the growth of the linear displacement sensor market positively.
Linear Displacement Sensor Market: Competition Landscape
- Detailed profiles of providers of linear displacement sensors market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global linear displacement sensor market are
- Althen Sensors
- Honeywell International Inc.
- Keyence Corporation
- Omron Corporation
- Panasonic Corporation
- Positek Limited
- TE Connectivity
- TRANS-TEK Inc.
Linear Displacement Sensor Market: Key Developments
- Key providers of linear displacement sensors, such as Althen Sensors, Honeywell International Inc., Keyence Corporation, Panasonic Corporation, and Micro-Epsilon are focusing on the creation of cost-effective linear displacement sensors to attract more customers. Some other key developments in the global linear displacement sensor market are highlighted below:
- In June 2020, Micro-Epsilon introduced new confocal sensors for precise distance and thickness measurements. The confocal DT sensor series operates with state-of-the-art technology to measure distance and thickness to the highest precision.
- In February 2020, Panasonic Corporation developed a time-of-flight (TOF) image sensor that uses avalanche photodiode (APD) pixels and is capable of acquiring highly accurate 3D information based on the position of objects from near to far places at distances up to 250 m.
- In the global linear displacement sensor market report, we have discussed individual strategies, followed by company profiles of providers of linear displacement sensor systems. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global linear displacement sensor market.
Linear Displacement Sensor Market – Scope of the Report
A new study on the global linear displacement sensor market is published by Transparency Market Research (TMR). It presents detailed information of key market dynamics, including drivers, trends, and challenges for the global linear displacement sensor market as well as its structure. TMR’s study offers valuable information on the global linear displacement sensor market in order to illustrate how the market is expected to expand during the forecast period i.e. 2020–2025.
Key indicators of market growth, which include value chain analysis and compound annual growth rate (CAGR), have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global linear displacement sensor market.
An extensive analysis of business strategies adopted by leading market players has also been featured in TMR’s study on the global linear displacement sensor market. This can help readers understand key factors responsible for growth of the global linear displacement sensor market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global linear displacement sensor market. This data would guide market players in making apt decisions in the near future.
Key Questions Answered in TMR’s Study on Linear Displacement Sensor Market
- What would be the Y-o-Y growth trend of the global linear displacement sensor market between 2020 and 2025?
- What is the influence of changing trends in technology on the global linear displacement sensor market?
- Would North America continue to be the most dominant regional market for providers of linear displacement sensors over the next few years?
- Which factors would hinder the global linear displacement sensor market during the forecast period?
- Which are the leading companies operating in the global linear displacement sensor market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the global linear displacement sensor market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary research sources referred to by analysts during production of the report on the global linear displacement sensor market includes statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the global linear displacement sensor market as a primary research source.
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global linear displacement sensor market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global linear displacement sensor market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects for the global linear displacement sensor market more reliable and accurate.
Linear Displacement Sensor Market – Segmentation
TMR’s study on the global linear displacement sensor market divides the market based on type, industry vertical, and region. Changing market trends and other crucial market dynamics associated with segments of the global linear displacement sensor market have been discussed in detail in TMR’s study.