Market Overview:
The Global Proximity Sensor Market is expected to grow from USD 2,325.4 million in 2018 to USD 3,630 million by 2025, at a CAGR of ~7% during the forecast period. A proximity sensor detects the presence of nearby objects without any physical contact. It functions by detecting a change in the local electromagnetic field. There is a change in the state of sensor output when a metal object is detected. Proximity sensors are largely used in automotive and aerospace & defense industries. Growth of advanced monitoring and safety systems is creating increased demand for proximity sensors in the automotive industry. Proximity sensors detect and warn the driver when the vehicle gets close to an object. Proximity sensors are used to develop a system based on a rectangular capacitive proximity-sensing array for quantifying occupant head position in the vehicle, in order to meet the guidelines of the Insurance Institute for Highway Safety (IIHS). Furthermore, growth in industrial automation is another leading factor driving the growth of Proximity Sensor Market. Proximity sensors in industrial automation are used in conveyor lines for counting and jam detection and in machine tools for safety interlock and sequencing.
The shapes of proximity sensors are evolving to meet customer requirements more efficiently. With continuous decrease in the size of automation equipment, proximity sensor manufacturers are working on developing lightweight and compact sensor package designs. Traditional barrel sensors are being replaced with new miniature cubical- and rectangular sensors. Models as thin as 6 mm are now replacing barrel-style sensors which are ten times thicker, while also achieving longer ranges. Proximity sensors are also available in various mounting options which maximize its application compatibility.
The automotive segment is expected to hold the largest share owing to the adoption of proximity sensors in various applications including parking assistance systems, infotainment systems, 3D gesture control systems, interior lighting control systems, and keyless entry system. In the parking assistance system, proximity sensors detect the presence of objects in the pathway of the vehicle and raise alarm to warn the driver, if an object is detected nearby. Proximity sensors are also used for preventing collision with pedestrians while parking the vehicle. Proximity sensors are also being rapidly adopted in the consumer electronics industry. Smartphones come equipped with proximity sensors which detect the proximity of screen to ears and accordingly control the display lights. Wearables are one of the important growth segments for proximity sensors under consumer electronics.
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Key Players
The key players in the proximity sensor market are Avago Technologies Inc. (Ticker: AVGO) (Singapore), Schneider Electric (France), Panasonic Corporation (Ticker: 6752) (Japan), Balluff GmbH. (Germany), Hans Turck GmbH & CO., KG. (Germany), Pepperl + Fuchs GmbH (Germany), Rockwell Automation (US), Omron Corporation (Japan), Honeywell International Inc. (Ticker: HON) (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.
Competitive Analysis
The proximity sensor report offers a comparative analysis of key players in the proximity sensor market. These key players are heavily investing in research and development to develop and offer efficient and cost-effective products. The large companies mainly emphasize on product innovation and effective distribution of their products through their network of partners in various countries.
Global Proximity Sensor Market – Segmentations
The market for proximity sensors was segmented based on technology, end user, and area.
The market was segmented into inductive, capacitive, photoelectric and magnetic based on the technology.
The market has been segmented on the basis of end users into aerospace & defence, automotive, manufacturing, consumer electronics, food & beverage, and others.
Global Proximity Sensor Market – Regional Analysis
The proximity sensor industry geographic research was carried out for North America, Europe, Asia-Pacific, Middle East & Africa and Central and South America.
Asia-Pacific holds the largest market share in the global proximity sensor market due to increased smartphone production in that area. Industrial automation growth in Asia-Pacific is also one of the major drivers in this area for the proximity sensors. In addition, during the forecast era, demand for proximity sensors in the manufacturing and consumer electronics sector is also expected to rise at a significant pace. North America has the second-largest position in this market because of the presence of key market players such as Rockwell Automation and Honeywell in the region. Proximity sensor industrial applications need a durable system to withstand harsh environmental conditions. North America is one of the largest industrial automation markets that involves the introduction of the latest technological advances. Tech giants, including Apple Inc., are putting their energies into smartphone technologies with proximity sensor applications. During the forecast period the European market is projected to expand at a significant pace. This is due to the tight government regulations on automobile safety and the rise of the demand for connected cars. The Near East and Africa, followed by South America, are expected to rise moderately in the coming years due to rising investments in new technologies by the government of these regions.
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Intended Audience
• Manufacturers of proximity sensor
• Proximity sensor distributors
• Technology standards organizations
• Investors and consultants
• System integrators
• Government organizations
• Research/consultancy firms
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