Position sensors have analog outputs indicating the position of the actuator based on the position of the magnet on that actuator. Position sensors provide flexibility from a control standpoint. The control engineer can determine a range of set points to conform to component variations.
Since these position sensors are based on magnets, like proximity sensors, it’s a good idea to purchase the sensor and actuator from the same manufacturer if possible. Position sensors can be acquired with IO-Link functionality, which also can simplify control and parameterization.