Proximity Sensors is likely to be valued at USD 2.92 billion in 2023, which is projected to reach around USD 4.38 billion by 2028, garnering a CAGR of 7% during the period of 2023 – 2028.
Proximity Sensors Market Overview
Proximity sensors are often used to detect the presence of any object without any physical interaction. These sensors emit the electromagnetic field or the beam of electromagnetic radiation, like infrared, and monitor the changes in their field or return of these signals.A proximity sensor is utilized for detecting the nearby objects, without even making any physical contact with them. They convert the phenomenon of movement of an object into electrical signals. There is a lot of type of these proximity sensors which are employed in their accordance to the applications of end-use i.e. an inductive proximity sensor is used for sensing the metallic objects, whereas capacitive proximity sensors are for detecting an organic or plastic material, etc. And the other type of these sensors includes capacitive proximity sensors, inductive proximity sensors, radar proximity sensors, Hall Effect proximity sensors, infrared proximity sensors, photocell proximity sensors, Doppler Effect proximity sensors. Also, a Hall Effect sensor can be varied on the basis of their working principle.
Recent Developments
Omron Automation, a Japanese based electronics company, has launched their new series of proximity sensors, named E2EW.
Qualcomm Technologies, one of the major players in the global market, and BOE Technology Group are planning to get into a strategic collaboration for developing display products that can showcase Qualcomm 3D Sonic ultrasonic technologies.
The prominent factor that is promoting the development of the Global Proximity Sensors Market is the rapid growth in the urge for such sensors in the extension of factories and automation processing frameworks. Also, factors like the rising trend of process automation of various factories and the continuous advancements of tablet & smartphone markets are supposed to be accelerating the development of the global market over the prophesized period. In addition, the decrease in the prices of these sensors due to the competitive spirits of their manufacturers' cost trend is estimated to raise the adoption of these sensors among the consumers. And the growing demand for the automobile coupled with the integration of contact-less sensing applications to make sure of these sensors expertise in an automobile's safety & infotainment systems is another key factor that will fuel the growth of the Global Proximity Sensors Market over the coming years.However, fluctuation in the prices of raw materials that are used in the manufacturing processes of these proximity sensors is a major restraint that was hindering the proximity sensors market over the forecast period, all around the world.Nevertheless, growth in the usage of these proximity sensors in the thriving automotive sector is creating lucrative opportunities for the players in the target market.
Market Segmentation of Global Proximity Sensors Market
Based on the technology of sensors,
Inductive Sensor
Photoelectric Sensor
Capacitive Sensor
Ultrasonic Sensor
Magnetic Sensor
Force Sensor
based on the type of product,
Fixed Distance
Adjustable Distance
On the type of chip outlook, the Global Proximity Sensors market is segmented into Single Chip and Multi-Chip. Whereas, the Single Chip segment is sub-segmented into Single Channel and Multi-Channel.
In the outlook of Industrial Vertical, the Global Proximity Sensors market is segmented as Aerospace & Defense, Automotive, Building Automation, Consumer Electronics, Food & Beverage, Industrial, and Others. Whereas the Consumer electronics segment is sub-segmented into Smart Phones, Tablet, and Others
And on the applications outlook of these proximity sensors, the Global Proximity Sensors market is segmented into Conveyor systems, Assembly line automation, Anti-aircraft warfare, Parking Sensor Systems, Roller coasters, and Others like Ground Proximity Warning System.
Proximity Sensors Market Regional analysis
North America
Europe
Asia-Pacific
South America
Middle East & Africa
In the regional analysis of the market, North America proximity sensor market accounted for the major share and is also expected to remain its dominance over the outlook period. Moreover, the proximity sensors market in Asia-Pacific is determined to witness the highest growth in the near future when compared to other regions. The major factor that is driving the growth of the target market in the Asia-Pacific, rapidly, is the rising call for the consumer electronics and automotive manufacturing industries, particularly in the developing nations like China and India. Additionally, the growing number of companies that develops and manufactures the sensors is another factor that is boosting the growth of the proximity sensor market in this area. And European regional market is expected to have a lot of growth opportunities in the revenue aspect during the projection period which is also followed by Latin America, and Middle East & Africa.
Proximity Sensors Market Key Players
Honeywell International, Inc.
NXP semiconductors N.V.
Qualcomm Technologies, Inc.
STMicroelectronics N.V.
Robert Bosch GmbH
Hewlett Packard Enterprise Development LP
IFM electronics GmbH
Kaman Corporation
Keyence Corporation
Lion Precision Inc.
Micron Optics, Inc.
Omron Corporation
Panasonic Corporation
Pepperl+Fuchs
Standex-Meder Electronics Inc.
Turck Inc., etc
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