The proximity sensor market size is expected to see strong growth in the next few years. It will grow to $7.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to IoT and smart infrastructure, rise of autonomous vehicles, healthcare and biomedical applications, supply chain optimization, urbanization and smart retail, energy efficiency initiatives, demand for touchless interfaces. Major trends in the forecast period include increasing adoption of non-contact sensing technologies, growth in automotive applications, demand surge in consumer electronics, integration with internet of things (IoT), expansion of industrial automation, development of advanced materials, enhanced sensitivity and accuracy, integration with gesture recognition,
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Segmentation & Regional Insights
The proximity sensor market covered in this report is segmented –
1) By Product Type: Fixed Distance Proximity Sensor, Adjustable Distance Proximity Sensor
2) By Technology: Inductive, Capacitive, Magnetic, Photoelectric, Ultrasonic
3) By Application: Conveyor Systems, Assembly Line Automation, Anti-Aircraft Warfare, Parking Sensor Systems, Roller Coasters, Other Applications
4) By End-User Industry: Manufacturing Industry, Aerospace Industry, Energy Sector, Packaging Industry, Other End Users
North America was the largest region in the proximity sensors market in 2023. The regions covered in the proximity sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for automation is expected to propel the growth of the proximity sensor market going forward. Automation uses technology, machinery, or systems to perform tasks or processes with minimal human intervention. The demand for automation is increasing due to various factors, such as the increasing need for enhanced efficiency, safety, productivity, and energy efficiency in multiple industries. Proximity sensors enable precise detection and measurement of objects without physical contact, facilitating seamless automation processes. For instance, in October 2021, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization, reported a substantial uptick in global industrial robot sales, marking a 17% increase in 2021. Further, implementing automation in the manufacturing industry could increase $4.9 trillion every year by 2030. Therefore, the growing demand for automated vehicles is driving the growth of the proximity sensor market.
Key Industry Players
Major companies operating in the proximity sensor market are Panasonic Corporation, Schneider Electric, Qualcomm Technologies Inc., Honeywell International Inc., Broadcom Inc., Hewlett Packard Enterprise Development LP, ST Microelectronics NV, NXP Semiconductors N.V., Delta Electronics Inc., Rockwell Automation, Omron Corporation, Keyence Corporation, Vishay Semiconductors, IFM Electronic GmbH, SICK AG, Semtech Corporation, Pepperl + Fuchs GmbH, Kaman Corporation, Balluff GmbH, Robert Bosch GmbH, Riko Opto-electronics Technology Co. Ltd., Fargo Controls, Lion Precision Inc., Hans Turck GmbH & Co. KG, Avago Technologies Inc.
The proximity sensor market report table of contents includes:
1. Executive Summary
2. Proximity Sensor Market Characteristics
3. Proximity Sensor Market Trends And Strategies
4. Proximity Sensor Market – Macro Economic Scenario
5. Global Proximity Sensor Market Size and Growth
………………………………….
32. Global Proximity Sensor Market Competitive Benchmarking
33. Global Proximity Sensor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Proximity Sensor Market
35. Proximity Sensor Market Future Outlook and Potential Analysis
36. Appendix
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