USD 3.52 billion
Global Proximity Sensors Market Size, Share, Growth Analysis, By Technology(Inductive, Capacitive), By End User(Aerospace, Defense) - Industry Forecast 2024-2031
Report ID:
SQMIG25A2134 |
Region:
Global |
Published Date: February, 2024
Pages:
265
|
Tables:
68 |
Figures:
75
Global Proximity Sensors Market Insights
Proximity Sensors Market size was valued at USD 3.52 billion in 2019 and is poised to grow from USD 3.77 billion in 2023 to USD 7.09 billion by 2031, growing at a CAGR of 7.24% in the forecast period (2024-2031).
Without making direct contact, the proximity sensor may detect the presence of items nearby. This sensor generates or radiates a beam of electromagnetic radiation, typically in the form of infrared light, for the purpose of sensing things. It then detects the reflection to determine the object's proximity to or distance from the sensor. Due to the growing need for proximity sensors in consumer goods like smartphones, laptops, and smart home devices, the worldwide proximity sensors market has experienced rapid expansion.
The primary drivers for the proximity and displacement sensor market are the ongoing trend of process automation in factories and the ongoing expansion of the mobile device industry. Additionally, it is anticipated that the proximity and displacement sensor industry will develop tremendously due to the falling cost of sensors. The proximity sensors market share for proximity and displacement sensors is anticipated to steadily expand globally as contactless sensing applications gain popularity and automakers show increased interest in incorporating sensor technology into automotive security and infotainment systems.
Numerous players, including component makers, 3D software developers, original equipment manufacturers, utility solution manufacturers, and service providers, are part of the value chain for the proximity sensors market trends. At their respective points of operation, each of these actors shares a particular value, which in turn adds to the competitive value of the product. Each participant in the market for proximity and displacement sensors adds value to their final product through R&D efforts, inventions, marketing plans, and aesthetic considerations. The proximity sensors market is seeing an increase in digitalization and the use of smart technologies worldwide.
US Proximity Sensors Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Inductive
Fastest Growth
Inductive
Growth Rate
7.24% CAGR
Global Proximity Sensors Lighting Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Proximity Sensors Market Size by Technology 2021-2028 ($ Mn)
Global Proximity Sensors Market Size by Technology 2021-2028 (%)
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Global Proximity Sensors Market Segmental Analysis
The global proximity sensors market is segmented based on Technology, End User, and Region. Based on Technology Proximity Sensors Market is segmented into Inductive, Capacitive, Photoelectric, Magnetic. Based on End User Proximity Sensors Market is segmented into: Aerospace and Defense, Automotive, Industrial, Consumer Electronics, Food and Beverage. Based on region Proximity Sensors Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Proximity Sensors Market Analysis by Technology
In 2021, the inductive segment accounted for the biggest proximity sensors market share in terms of technology. The fact that inductive proximity sensors are hardly ever influenced by temperature changes and outside pollutants like dirt and water is one of the factors propelling the global market for inductive proximity sensors. Using numerous receiver coils to determine the position and distance from the ratio of received signals negates the impact. The end user can employ inductive proximity sensors in challenging conditions because to this reliability factor.
Large companies used inductive proximity sensor technology more than ten years ago. Inductive proximity sensor technology has been used by small and medium-sized businesses as well thanks to enhanced technology and affordable solutions & services. All tiers of businesses frequently employ inductive proximity sensors to improve industrial automation, streamline processes, and transform their manufacturing environments. As a result, numerous industries are placing more emphasis on the use of inductive proximity sensors in industrial automation.
The magnetic sector of the global market for proximity sensors is also anticipated to experience the greatest CAGR growth during the projection period. Permanent magnets are located using magnetic proximity sensors. The ability of these sensors to detect magnets through walls made of non-ferrous metal, stainless steel, aluminium, plastic, or wood is due to the fact that magnetic fields may penetrate all non-magnetizable materials.
Global Proximity Sensors Market By Technology , 2021 (%), 2023 (%)
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Global Proximity Sensors Market Regional Insights
The global proximity sensors market is divided into North America, Europe, Asia Pacific, and the rest of the world based on geographical analysis. In terms of revenue throughout the projected period, the North American proximity sensor market is expected to account for a significant portion of the global market. The market under study is expanding as a result of rising automation demand and steadily rising capital investments in establishing several sectors that use proximity sensors.
Additionally, because to the existence of numerous technology companies, governmental rules, and financial assistance, the United States has the largest smart parking industry in the entire globe. Moreover, the development of the US smart parking market, which acts as a growth factor for the proximity sensor market, is driven by the presence of heavy traffic in cities like New York and Los Angeles and the rising level of awareness toward contemporary solutions for traffic control and parking.
However, it is also predicted that the Asia Pacific market would shortly have the fastest revenue increase. A key element influencing the expansion of the target market in the region is the expansion of the automotive and consumer electronics manufacturing industries, particularly in developing nations like China and India.complexes.
Global Proximity Sensors Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Proximity Sensors Market Dynamics
Proximity Sensors Market Driver
- One of the main uses for proximity and displacement sensors is factory automation. The proximity sensor, which is used to detect objects and alert the processor to start a certain process assigned to it, is an essential component of automation systems. The analysis of the proximity sensors market and displacement sensors is being driven by manufacturers who are seeking for factory automation solutions as the best choice, particularly in the sectors where rigorous quality standards and repeatable manufacturing processes are needed.
- Through data exchange, sensor information will assist in maintaining various urban facilities as well as in effectively responding to crises and accidents. Multi-sensor urban cars will be necessary to monitor a variety of events. The market for proximity sensors is expanding as a result of the improvement in demand for these various types of proximity sensors in urban infrastructures.
Proximity Sensors Market Restraint
- Factory and process automation is the primary area of application sought after by the proximity and displacement sensors market in terms of revenue. Installation of robotic structures with sophisticated sensing technology that work with or without a minuscule degree of human supervision is referred to as automation. The installation of a fully integrated automation system, however, requires a substantial initial investment, which reduces the interest of medium- and small-sized firms.
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Global Proximity Sensors Market Competitive Landscape
- As there are so many domestic and foreign companies operating all over the world, the proximity sensors business is very competitive. To increase their market penetration, these important firms have used a variety of techniques, including product portfolio expansion, mergers and acquisitions, partnerships, geographic expansion, and collaborations. The major players in the market are Omron Corporation (Japan), IFM Electronics GmbH (Germany), Kaman Corporation (US), Keyence Corporation (Japan), Lion Precision (US), Micron Optics Inc. (US), Panasonic Corporation (Japan), Pepperl+Fuchs (Germany), Standex-Meder Electronics Inc. (US), Turck Inc. (Germany).
Proximity Sensors Market Top Company Profiles
- Omron Corporation
- Pepperl+Fuchs GmbH
- Sick AG
- Panasonic Corporation
- IFM Electronic GmbH
- Turck GmbH & Co. KG
- Balluff GmbH
- Honeywell International Inc.
- Rockwell Automation, Inc.
- Keyence Corporation
- Schneider Electric SE
- Fargo Controls, Inc.
- Eaton Corporation plc
- Contrinex AG
- Hans Turck GmbH & Co. KG
- Vishay Intertechnology, Inc.
- Avago Technologies (Broadcom Inc.)
- Baumer Holding AG
- Texas Instruments Inc.
- STMicroelectronics N.V.
Proximity Sensors Market Recent Developments
- In March 2022, Datalogic, a company in the automatic data capture and factory automation industry, will showcase Visual Supply Chain Intelligence. Traceability is essential for the tracking and tracing of modern supply networks. Datalogic offers cutting-edge technologies and solutions that combine barcodes, visual systems, artificial intelligence, and machine learning to produce genuine intelligence. These innovations work together to produce Visual Supply Chain Intelligence.
- In February 2022, STMicroelectronics has unveiled a new line of high-resolution Time-of-Flight sensors that will enable smartphones and other devices to use cutting-edge 3D depth mapping.
Global Proximity Sensors Key Market Trends
- A smart house is a domicile equipped with technology that monitors the state of a home and offers preventative measures. The idea of a "smart house" evolved to provide two key services: luxurious amenities and resident assistance with safety and security. Future uses for proximity and displacement sensors are anticipated to include home safety and security, assisted living, and applications for air conditioning, automated lighting, and smoke detection.
- The widespread use of proximity sensors in automotive applications is being fueled by the touch-free user interface. The infotainment system, keyless entry system, 3D gesture, and interior lighting control are just a few of the uses for these sensors in automobiles. These sensors work as part of the parking assistance system to identify obstacles in the path of the reversing car and to sound an alarm to alert the driver. Additionally, while parking, proximity sensors prevent collisions with pedestrians.
Global Proximity Sensors Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by technology, the inductive segment accounted for the biggest proximity sensors market share of the global revenue. Region-wise, the North America had dominated the market, followed by Aisa Pacific.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.52 billion |
| Market size value in 2031 | USD 7.09 billion |
| Growth Rate | 7.24% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Proximity Sensors Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Proximity Sensors Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Proximity Sensors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Proximity Sensors Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Proximity Sensors Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Proximity Sensors Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Proximity Sensors Market Report Snapshots
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