Global Proximity Sensor Market Synopsis
The Global Proximity Sensor Market is slated to rise from USD
2,325.4 million in 2018 to USD 3.63 billion by 2025, at a CAGR of ~7% during
the forecast period. The proximity sensors are used to detect the proximity or
the distance between the target object and the receiver. The various proximity
sensors in the market are used to detect various material types and serve
various purposes. The wide range of end-user applications includes defense,
automotive, consumer electronics, aerospace, and other crucial areas. Several
applications are reducing the sizes to fit into the miniature applications.
Key Players:
The key players in the proximity sensor market are
Avago Technologies Inc. (Singapore), Schneider Electric (France), Panasonic
Corporation (Japan), Balluff GmbH. (Germany), Hans Turck GmbH & CO., KG.
(Germany), Pepperl + Fuchs GmbH (Germany), Rockwell Automation (US), Omron
Corporation (Japan), Honeywell International Inc. (US), and Sick AG (Germany).
Other prominent players studied for the Proximity
Sensor market are IFM Electronic GmbH (Germany), Fargo Controls (US), Gimatic
S.r.l. (Russia), Bernstein AG (Germany), Baumer Holding AG (Germany), and
Schmersal (Germany), among others.
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Drivers and Restraints
With the introduction of non-contact sensing
technology, the complexity of the system can be minimized to some degree. This
is the primary reason why sensing components, like a proximity sensor, are
increasingly needed. In the automotive and aerospace & defense sectors,
proximity sensors are used in great part. Growth of sophisticated monitoring
and safety technologies in the automotive industry is generating increased
demand for proximity sensors. Additionally, growth in industrial automation is
another leading factor driving proximity sensor market growth. With the
continuous reduction in the size of automation equipment, manufacturers of
proximity sensors are working to build lightweight and compact sensor package
designs.
The rising industrial automation has emerged as a
relatively more desirable place for organizations around the world to invest.
Dependence on robots in industrial controller mechanisms is an proven trend
which paves the way for wider and wider adoption of industrial control and
automation equipment. The rise in automation of complex manufacturing processes
has increased the demand for components capable of providing essential
production process data. However, limitations in sensing capabilities and other
sensor availability at a lower cost can hinder the growth of the proximity
sensor market.
Segmentation
The market for proximity sensors was segmented based
on technology, end user, and area.
The market was segmented into inductive, capacitive,
photoelectric and magnetic based on the technology.
The market has been segmented on the basis of end
users into aerospace & defence, automotive , manufacturing, consumer
electronics , food & beverage, and others.
Regional Evaluation
The proximity sensor industry geographic research
was carried out for North America, Europe , Asia-Pacific, Middle East &
Africa and Central and South America.
Asia-Pacific holds the largest market share in the
global proximity sensor market due to increased smartphone production in that
area. Industrial automation growth in Asia-Pacific is also one of the major
drivers in this area for the proximity sensors. In addition, during the
forecast era, demand for proximity sensors in the manufacturing and consumer
electronics sector is also expected to rise at a significant pace.
North America has the second-largest position in
this market because of the presence of key market players such as Rockwell
Automation and Honeywell in the region. Proximity sensor industrial
applications need a durable system to withstand harsh environmental conditions.
North America is one of the largest industrial automation markets that involves
the introduction of the latest technological advances. Tech giants, including
Apple Inc., are putting their energies into smartphone technologies with
proximity sensor applications.
During the forecast period the European market is
projected to expand at a significant pace. This is due to the tight government
regulations on automobile safety and the rise of the demand for connected cars.
The Near East and Africa, followed by South America, are expected to rise
moderately in the coming years due to rising investments in new technologies by
the government of these regions.
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