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Published on : Nov 29, 2017

ALBANY, New York, November 29, 2017: ResearchMoz.us has announced the addition of a report, titled “Proximity Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2022”, to its offering. The report on the global proximity sensors market offers a detailed assessment of key factors and trends influencing the growth of the market. The study offers an in-depth insight into notable trends boosting the adoption of proximity sensors in various end-use industries, such as automotive, consumer electronics, and pharmaceutical. The report takes a closer look at prominent developments in major end-use industries expected to impact the growth trajectory of the market. 

The global proximity sensors market is projected to rise at a CAGR of 6.9% from 2017 to 2022 and is anticipated to reach a worth of US$3,000 Mn by the end of the forecast period. The global proximity sensors market is primarily driven by the substantial adoption of collision-protection technologies in the automotive and aviation industry. The pressing need for accurate detection of the surroundings and for facilitating navigation in automobiles is a key factor stoking the demand for sensors to boost safety of vehicles and convenience of drivers. In addition, the pressing need for safe parking of the vehicles world over has bolstered the demand for proximity sensors. 

The rising deployment of proximity sensor technology in vehicles for preventing accidents and minimizing any mishaps is a notable factor accentuating the market. Furthermore, the need for safe movement of vehicles transporting commercial goods and commodities is also expected to stoke the demand for proximity sensors. The rise in anti-collision devices in the transportation industry worldwide is a key trend catalyzing the growth of the proximity sensors market.

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The implementation of proximity sensors in aircrafts has bolstered their remote sensing technologies and navigate the routes, thereby boosting their adoption in the aviation sectors. The rapidly rising demand for sensor technologies in electronic gadgets for an immersive end-user experience is expected to stoke the demand for proximity sensors. To this end, world over, manufacturers of various electronics devices such as smartphones, door locks, washing machines, and smart televisions, are increasingly integrating proximity sensors with the existing user interface. In addition, equipped with electromagnetic and ultrasound features, proximity sensors are gaining traction in the aviation and shipping industry in the coming years.

The burgeoning demand for proximity sensors in the healthcare industry is a trend significantly boosting the market. The deployment of these technologies in pulse oximeters for conducting photoplethysmography procedures has improved the functionality of devices, fortifying the demand. The use of proximity sensors in ECG/KCG monitors and glucose monitors has helped clinicians enhance patient outcomes, and hence their demand has picked up pace in the healthcare industry. 

The vastly rising demand for high-performance sensors in the industrial manufacturing sector in various regions is expected to accentuate the market in the coming years and the industry is anticipated to account for a substantial revenue in the global market over the forecast period. Furthermore, the defense and aerospace end-use industry segment is predicted to grow at an impressive growth rate during the assessment period. Among various technologies, the infrared technology segment is projected to rise at dominant pace during 2017–2022. Some of the regional markets for proximity sensors are North America, the Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ), Latin America, Japan, and Europe. 

Prominent players vying for a significant share of the proximity sensors market include Fargo Controls, Inc., AMETEK, Inc., OMRON Corporation, Honeywell International Inc., Hans Turck GmbH & Co., KG, Rockwell Automation, Inc., Schneider Electric SE, Panasonic Corporation, IFM Electronic GmbH, and Broadcom Limited. 

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