According to Stratistics MRC, the Global Proximity Sensor Market is accounted for $3.18 billion in 2020 and is expected to reach $5.59 billion by 2028 growing at a CAGR of 7.3% during the forecast period. Some of the factors such as the increase in the demand for industrial automation and non-contact sensing technology are the major factors propelling the market growth. However, low-cost sensors increasing threat to scale down quality is hampering the market growth.
Some of the key players profiled in the Proximity Sensor Market include Autonics Corporation, Balluff GmbH., Datalogic SpA, Delta Electronics Inc, Fargo Controls, Inc., Honeywell International Inc., Keyence Corporation, NXP Semiconductor, OMRON Corporation, Panasonic Corporation, Pepperl+Fuchs GmbH, Riko Opto-electronics Technology Co. Ltd, Rockwell Automation Inc., SICK AG, and ST Microelectronics NV. Browse complete report with TOC @ https://www.strategymrc.com/report/proximity-sensor-market
Channel Types Covered:• Multi-Channel• Single Channel
Sensing Ranges Covered:• 0 MM-10 MM• 10 MM-40 MM• 40 MM-60 MM• 60 MM-80 MM• Greater Than 80 MM
Products Covered:• Fixed Distance• Adjustable Distance
Technologies Covered:• Ultrasonic • Capacitive • Inductive • Magnetic • Photoelectric • Linear Variable Differential Transformer (LVDT) • Force Sensor
Types Covered:• Cylindrical Inductive Sensor• Rectangular Inductive Sensor• Slot Inductive Sensor• Ring Inductive Sensor
Applications Covered:• Ground Proximity Warning System• Inspection and Counting• Parking Sensor Systems• Assembly Line Automation• Anti-Aircraft Warfare• Roller Coasters• Vibration Monitoring System• Mobile Devices• Conveyor Systems• Detection of Object• Position
End Users Covered:• Aerospace and Defense • Industrial Manufacturing • Building Automation • Automotive • Consumer Electronics • Food and Beverage • Pharmaceutical • Construction • Energy • Manufacturing • Travel and Transport
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The Global Proximity Sensor Market is majorly driven by the increase in the demand for industrial automation and non-contact sensing technology. The 10 mm-40 mm segment is growing at the highest CAGR due to the inductive proximity sensor offering a similar sensing range and the large availability of proximity sensors in this sensing range. North America dominated with a significant market share due to the factors such as increasing focus towards automation of industries and favorable support from the government toward the implementation of the proximity sensor. The Asia Pacific market is growing at the highest CAGR due to the rising production of smartphones.
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