Proximity Sensor Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Proximity Sensor Market

Proximity Sensor MarketProximity Sensor Market: Overview

Proximity sensors are the preferred option for the recognition of metal elements in machinery or automation tools, which need exact, non-contact recognition. Proximity sensors are most extensively used in industrial and automotive applications. The fastest rising application market is material handling. The development of the proximity sensors market is presently being slowed down by limitation in sensing capabilities.

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Proximity Sensor Market: Growth Factors

A displacement sensor checks the displacement for the object of notice from one point to another. Currently, the market for the proximity sensor and displacement sensors is in a developing stage of its product lifecycle. The quickly rising demand for these sensors in the expansion of factory and process automation systems has augmented the competition in the proximity sensor market making strong competitive surroundings in the market.

Increasing trend of process automation in factories and the constant development of tablet and Smartphone market, mainly fuel the proximity sensors market. On the other hand, the decreasing cost trend is anticipated to fuel the market exponentially. Rising demand towards the interest of automobile manufacturers and contactless sensing applications towards the integration of sensor expertise in automotive safety and infotainment systems will ultimately strengthen the global proximity sensors market.

Proximity Sensor Market: Segmentation

The proximity sensors market is divided based on the type into the rectangular inductive sensor, cylindrical inductive sensor, ring inductive sensor, slot inductive sensor. Based on the end user industry, the global market is segmented as travel and transport, defense, energy, manufacturing, automotive, and others.

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Proximity Sensor Market: Regional Analysis

Geographically, the global proximity sensor market is classified across Europe, North America, LAMEA and Asia Pacific. North America is the key region in proximity sensors market followed by Asia Pacific. Most of the OEMs are concentrated in Asia Pacific and North American region. This is the main reason for the considerable market share in these regions.

Proximity Sensor Market: Competitive players

The key players of the global proximity sensor market are IFM Electronics GmbH, Kaman Corporation, Keyence Corporation, Lion Precision Inc., Micron Optics, Inc., Omron Corporation, Panasonic Corporation, Pepperl+Fuchs, Standex-Meder Electronics Inc., and Turck Inc.

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