Global Proximity Sensor Market is Expected to Reach USD 3.7 Billion in 2020

Date: 2015-10-30

Industrial manufacturing is the major market for proximity sensor. Increase in automation of production systems to realize more efficiency has led to adoption of proximity sensors in industrial manufacturing. Proximity sensors facilitate process control in factories by detecting the presence and accurate positioning of metal objects. Industrial processes such as broken tool detection, tool position, process control, conveyer system control, and bulk material detection need monitoring systems to maintain product quality and process efficiency. Automotive is the second-largest market for proximity sensors due to their adoption in drive assistance applications such as blind spot detection, reversing sensor system, side step protection system. 

Development of proximity sensors with long sensing distance has played a major role in the growth of market since it is not possible to mount a sensor close to the target object. Longer sensing distances eliminates the need for expensive high-temperature sensor as a sensor placed closer to a hot temperature source may not function properly and may require more maintenance. 

The report talks about the proximity sensor market size and forecast from 2014 to 2020. The report projects that the proximity sensor market is expected to reach USD 3.7 billion in 2020, at an estimated CAGR of 5.3% between 2015 and 2020. 

The report covers the proximity sensor market by industry such as aerospace & defense, automotive, food & beverage, pharmaceuticals, consumer electronics, building automation, industrial manufacturing, and by geography North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Italy, and others), APAC (China, Japan, India, South Korea, and others), RoW (Middle East & Africa and South America). The proximity sensor market by technology includes (inductive, capacitive, magnetic, photoelectric, and ultrasonic. 

The report talks about the premium insights; different drivers, restraints, opportunities, and challenges that are expected to shape the proximity sensor market; Porter’s five forces analysis; competitive landscape; and company profiling of top players. The players involved in the proximity sensor market include Avago Technologies Inc. (Singapore), IFM Electronic GmbH (Germany), Schneider Electric (France), Panasonic Corporation (Japan), Balluff GmbH (Germany.), Hans Turck GmbH & CO., KG. (Germany), Pepperl + Fuchs GmbH (Germany), Rockwell Automation (U.S.), Omron Corporation (Japan), Honeywell International Inc. (U.S.), Fargo Controls (U.S.), and Sick AG ( Germany). 

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