Published on : Jan 08, 2018
ALBANY, New York, Jan 08, 2018: ResearchMoz.us has announced the addition of a report, titled “Proximity Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025”, to its offering. The report on the global proximity sensors market offers comprehensive insights into key growth drivers, restraining factors, notable trends and opportunities, share and size of prominent segments, and the competitive landscape. The study presents a granular analysis of the factors driving the demand in various industry verticals such as automotive, aerospace and defense, building automation, food & beverage, and consumer electronics. It evaluates major technologies and highlights recent advancements in sensor expected to open new avenues during the forecast period of 2017 to 2025. It further takes a closer look at lucrative prospects in major regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
The global proximity sensors market is projected to expand at a CAGR of 5.1% from 2017 to 2025. The market to anticipated to touch a valuation of US$3,754.8 mn by 2025 end.
The various technologies used in proximity sensors can broadly be classified into capacitive sensors, magnetic, infrared (IR), and force sensor. Of all the types, the capacitive sensors segment leads the pack and is expected to retain its dominance throughout the forecast period. Of the major regional markets, Asia Pacific is projected to account for the leading share and is predicted to hold its sway over the same period. Asia Pacific is the most attractive market as it is projected to rise at the leading CAGR through the assessment period. The growth will be fueled by the vastly rising uptake of industrial automation technologies in major economies, notably China and India. In addition, the proliferation of consumer electronics products with sensors technology will also drive the demand in the regional market.
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The rising deployment of sensors in various applications, notable industrial automation, consumer electronics, and automotive is a key factor driving the market. The unhindered growth of the consumer electronics industry in various developing and developed regions is a crucial factor bolstering the demand for proximity sensors. Furthermore, the growing number of vehicle detection technologies using proximity sensors is also boosting the market. This is chiefly attributed to rising need for technologies for better detection of obstacles and to enable the accessibility functionalities of cars through doors. The growing demand for technologies to boost electromagnetic and ultrasound features in the aviation sector is a notable factor bolstering the uptake.
The rising popularity of smart transportation and connected homes technologies in several developing and developed economies world over is a noticeably stoking the demand for various proximity sensor technologies. The growing number of specific application of sensors is expected to fortify the demand for proximity sensors. The demand for an assortment of sensor technologies in developing next-generation consumer electronics, particularly smartphones, is accentuating the growth of the market.
The extensive adoption of proximity sensors in consumer electronics devices is boosting the market. Furthermore, the rising adoption of capacitive proximity sensing technologies in smartphones is a case in point, which helps in overcoming the drawbacks of IR sensing used. Recent advancements in capacitive proximity sensor bodes well for the market. The rise of automation in food and beverages production is expected to open up exciting avenues for market players to capitalize on.
The global proximity sensors market features an intensely competitive and fairly fragmented landscape. A number of multinational companies and regional players operating in the market are focused on launching cost-competitive products, in a move to gain a competitive edge over others.
Some of the prominent players operating in the global proximity sensors market are Infineon Technologies AG, Qualcomm Technologies, ST Microelectronics NV, Vishay Semiconductors, Semtech Corporation, Rockwell Automation Inc., Schneider Electric SE, Panasonic Corporation, IFM Electronic GmbH, Sick AG, and Pepperl + Fuchs GmbH.
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