According to a new market report by Lucintel, the future of the global proximity sensor market looks promising with opportunities in the aerospace & defense, automotive, building automation, consumer electronics, food & beverage, industrial and healthcare end use industries. The global proximity sensor market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow with a CAGR of 5% from 2020 to 2025. The major growth drivers for this market are increasing awareness of monitoring and safety systems in automobiles and growing demand for smart factories.
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In this market, inductive, capacitive, magnetic, photoelectric, and ultrasonic are the major technology segments.
Within the proximity sensor market, automotive will remain the largest end use industry, and it is expected to witness the highest growth over the forecast period because touch-free user interface is driving the adoption of proximity sensor in automotive applications.
Asia Pacific is expected to witness the highest growth over the forecast period due to growth of the automotive, consumer electronics, and manufacturing industries in developing countries, such as China and India.
Avago Technologies, IFM Electronic GmbH, Schneider Electric, Panasonic Corporation, Balluff GmbH., Rockwell Automation, Omron Corporation, and Honeywell are among the major manufacturers of the proximity sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global proximity sensor market by technology, product type sensing range, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Proximity Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global proximity sensor market by technology, product type, sensing range, end use industry, and region as follows:
By Technology [$M shipment analysis for 2014 – 2025]:
Inductive
Capacitive
Magnetic
Photoelectric
Ultrasonic
Others
By Product Type [$M shipment analysis for 2014 – 2025]:
By Sensing Range [$M shipment analysis for 2014 – 2025]:
0 MM–20 MM Sensing Range
20 MM–40 MM Sensing Range
Greater Than 40 MM Sensing Range
By End Use Industry [$M shipment analysis for 2014 – 2025]:
Aerospace & Defense
Automotive
Building Automation
Consumer Electronics
Food & Beverages
Industrial
Healthcare
Others
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
China
Japan
India
South Korea
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.