Automotive and Consumer Electronics Industries to be High-End Users of Proximity Sensor Market Growth
Market Research Future (MRFR) in its latest “Proximity Sensor Market” report, reveals that the global market of proximate sensor is likely to thrive at a 7% CAGR across the assessment years of 2018 to 2025. MRFR also states that the global proximity sensor market is likely to value at nearly USD 3,630 million by 2025 from USD 2,325.4 million in 2018.
Market Synopsis
Proximity sensors are widely applicable in the burgeoning aerospace and defense, and the automotive industries. The rise in requirement for advanced safety and monitoring systems in the automotive industry is popularizing proximity sensors in the industry. These sensors have great ability to detect and alert drivers about nearby objects. They are developed in accordance with the guidelines of the Insurance Institute for Highway Safety (IIHS), which assures that they have undergone strict safety assessment. These factors are expected to make the proximity sensor market high profit in the evaluation period.
Dynamics of the automotive segment is expected to dictate the progress of the proximity sensor. The incorporation of proximity sensors in parking assistance systems, 3D gesture control systems, infotainment systems, keyless entry system, and interior lighting control systems are expected to make the market profit. The consumer electronics industry is another important end-user of the market. The increase in sales of number of smartphones equipped with proximity sensors are likely to boost the expansion of the global market.
Segmentation
According to Market Research Future, the global proximity sensor market has been segmented on the basis of technology, end user, and region.
With continuous developments in industrial automation, the proximity sensor market is witnessing high demand. In industrial automation, proximity sensors are used in conveyor lines for counting and jam detection and in machine tools for safety interlock and sequencing. However, the highest demand for proximity sensors comes from the automotive sector. Proximity sensors are used for application such as parking assistance systems, infotainment systems, 3D gesture control systems, interior lighting control systems, and keyless entry systems in the automotive industry. One of the important applications of proximity sensors is seen in parking assistance systems where these sensors detect the presence of objects in the path of the vehicle and raise alarm in order to warn the driver. These sensors are also used for preventing collision with pedestrians while parking the vehicle. Stringent regulations regarding automotive safety and growth of connected vehicles market are driving the adoption of proximity sensors across the automotive industry. Apart from automotive applications, proximity sensors are used in consumer electronics, aerospace & defense, food & beverages industries, among others.
The global proximity sensor market has been segmented on the basis of technology, end user, and region.
On the basis of technology, the market has been segmented into inductive, capacitive, photoelectric, and magnetic. The photoelectric proximity sensor is expected to account for a significant market share due to its extensive application in automotive and material handling. The capacitive proximity sensor segment is expected to grow at the highest CAGR during the forecast period.
By end user, the market has been segmented into aerospace & defense, automotive, industrial, consumer electronics, food & beverage, and others. The automotive segment holds a major market share in 2018, due to a large number of installations in automobiles for safety applications. The aerospace & defense segment is expected to grow at a significant CAGR during the forecast period.
Key Players
The key players in the proximity sensor market are Avago Technologies Inc. (Singapore), Schneider Electric (France), Panasonic Corporation (Japan), Balluff GmbH. (Germany), Hans Turck GmbH & CO., KG. (Germany), Pepperl + Fuchs GmbH (Germany), Rockwell Automation (US), Omron Corporation (Japan), Honeywell International Inc. (US), and Sick AG (Germany).
Other prominent players studied for the Proximity Sensor market are IFM Electronic GmbH (Germany), Fargo Controls (US), Gimatic S.r.l. (Russia), Bernstein AG (Germany), Baumer Holding AG (Germany), and Schmersal (Germany), among others.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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