According to the report by Expert Market Research (EMR), the GlobalProximity Sensors Market Shareis projected to grow at a CAGR of 8.60% between 2023 and 2028. Aided by the escalating demand for automation across various industries and the increasing adoption of proximity sensors in several sectors, the market is expected to grow significantly by 2028.
Proximity sensors are devices that can detect the presence or absence of objects within a certain range without any physical contact. They are primarily used for safety, automation, and energy efficiency purposes in various applications, including smartphones, cars, manufacturing equipment, and robotics. They play a crucial role in ensuring operational safety, enhancing productivity, and promoting energy conservation. Since proximity sensors eliminate the need for manual CCTV screen monitoring or routine patrols, they are a low-cost method of maintaining security. The sensors can be set up to issue notifications when they detect movement.
Proximity Sensors Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The mounting demand for automation across industries is a key driver propelling the global proximity sensors market growth. With the growing recognition of the benefits of automation, such as improved efficiency, cost savings, and enhanced quality, there has been a significant shift towards the integration of proximity sensors into various systems and equipment. Additionally, the surge in Industry 4.0, with its focus on intelligent manufacturing and smart factories, further bolsters the popularity of proximity sensors.
The widening applications of proximity sensors across various sectors also contribute significantly to the proximity sensors market development. In the automotive industry, proximity sensors are used extensively for safety features like parking assistance and collision avoidance systems. The manufacturing sector employs proximity sensors for automation and process control, enhancing efficiency and safety. The rising adoption of these sensors in consumer electronics, particularly in smartphones for touchless gesture control and screen dimming, further accentuates market growth.
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Moreover, the burgeoning demand for energy-efficient devices in the wake of environmental concerns and energy cost savings has led to an increased focus on proximity sensors as a vital component of energy-efficient solutions. With the increasing emphasis on smart homes and buildings, which extensively incorporate automation for energy conservation, proximity sensors have emerged as a crucial element, thereby spurring the proximity sensors market expansion.
Proximity Sensors Market Segmentation
The market can be divided based on technology, product, end use, and region.
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Market Breakup by Technology
- Inductive
- Capacitive
- Photoelectric
- Magnetic
Market Breakup by Product
- Single Chip
- Multi Chip
Market Breakup by End Use
- Aerospace and Defence
- Automotive
- Building Automation
- Food and Beverage
- Consumer Electronics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global proximity sensors companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- STMicroelectronics N.V.
- Autonics Corporation
- OMRON Corporation
- SICK AG
- Rockwell Automation, Inc.
- Honeywell International Inc
- Others
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