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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).

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.'

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.

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 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 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.

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Global Proximity Sensors Market

Product ID: SQMIG25A2134