The implementation of proximity sensors is transforming the business prospects of several industries by automating production operations, and improving safety and security solutions. With the emergence of Industrial Internet of Things (IIoT) in the manufacturing sector, there has been an increase in demand for components that are capable of acquiring and transmitting information regarding production processes. This is one of the key factors driving the adoption of proximity sensors. The proximity sensors market is projected to expand at a compound annual growth rate (CAGR) of 7.5% during the forecasted period, and will reach a value of USD 3.3 Bn by 2023.
Technology segment insights:
The photoelectric sensors segment held the largest market share in 2018, and is predicted to expand at the highest CAGR, during the forecasted period. This growth can be attributed to the introduction of 3D LiDAR technology that consists of Time-of-Flight (ToF) sensors. Owing to its ranging and 3D-mapping capabilities, 3D LiDAR technology has several applications in fields like robotics, medical, automotive, and spacecraft systems.
End use industry segment insights:
Industries like consumer electronics, aerospace and defense, manufacturing, automotive, food and beverage, metals and mining, and ‘others', are gradually realizing the potential of proximity sensors in their business processes. In 2018, the consumer electronics segment held the largest share (24.3%) of the market, owing to the contribution of proximity sensors in gesture recognition features of smartphones, smart lighting systems, and auto-regulation of temperature in smart homes. The manufacturing segment is predicted to expand at the highest CAGR (10.2%) during the forecasted period (2018-2023). This is primarily because of the high adoption of photoelectric, inductive, and capacitive sensors in the sector to automate monitoring and management of production processes.
Regional insights:
Europe dominated the global proximity sensors market with a share of 34.8% in 2018 since most of the key players are based in this region. The proximity sensors market in the Asia-Pacific region is estimated to exhibit the highest growth rate, owing to the higher demand for better infrastructure, smart home solutions, and improved transportation systems to meet the needs of a growing population.
Companies covered:
- ST Microelectronics NV
- Semtech Corporation
- Rockwell Automation Inc.
- Panasonic Corporation
- IFM Electronic GmbH
- Sick AG
- Pepperl + Fuchs GmbH
- Schneider Electric SE
- Broadcom Inc.
Chapter 1. Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in this study
1.3. Executive summary
Chapter 2. Introduction
2.1. Market definition
2.2. Market overview
- Global market revenue (USD Mn)
- Global forecasted market revenue (USD Mn)
2.3. Market drivers
2.4. Market trends
2.5. Market challenges
2.6. Value chain analysis
Chapter 3. Global proximity sensors market - based on technology
3.1. Global proximity sensors based on technology - photoelectric sensors - forecasted (2018-2023) market size (USD Mn), key observations
3.2. Global proximity sensors based on technology - capacitive sensors - forecasted (2018-2023) market size (USD Mn), key observations
3.3. Global proximity sensors based on technology - inductive sensors - forecasted (2018-2023) market size (USD Mn), key observations
3.4. Global proximity sensors based on technology - magnetic sensors - forecasted (2018-2023) market size (USD Mn), key observations
3.5. Global proximity sensors based on technology - ultrasonic sensors - forecasted (2018-2023) market size (USD Mn), key observations
Chapter 4. Global proximity sensors market - based on end use industry
4.1. Global proximity sensors based on end use industry - consumer electronics - forecasted (2018-2023) market size (USD Mn), key observations
4.2. Global proximity sensors based on end use industry - aerospace and defense - forecasted (2018-2023) market size (USD Mn), key observations
4.3. Global proximity sensors based on end use industry - manufacturing - forecasted (2018-2023) market size (USD Mn), key observations
4.4. Global proximity sensors based on end use industry - automotive - forecasted (2018-2023) market size (USD Mn), key observations
4.5. Global proximity sensors based on end use industry - food and beverage - forecasted (2018-2023) market size (USD Mn), key observations
4.6. Global proximity sensors based on end use industry - metals and mining - forecasted (2018-2023) market size (USD Mn), key observations
4.7. Global proximity sensors based on end use industry - ‘others' - forecasted (2018-2023) market size (USD Mn), key observations
Chapter 5. North America proximity sensors market
5.1. Market overview
- Revenue (USD Mn)
- Forecasted market revenue (USD Mn)
5.2. Market observations
5.3. North America - based on technology - forecasted (2018-2023) market size (USD Mn), key observations
5.4. North America - based on end use industry - forecasted (2018-2023) market size (USD Mn), key observations
Chapter 6. Europe proximity sensors market
6.1. Market overview
- Revenue (USD Mn)
- Forecasted market revenue (USD Mn)
6.2. Market observations
6.3. Europe - based on technology - forecasted (2018-2023) market size (USD Mn), key observations
6.4. Europe - based on end use industry - forecasted (2018-2023) market size (USD Mn), key observations
Chapter 7. Asia-Pacific proximity sensors market
7.1. Market overview
- Revenue (USD Mn)
- Forecasted market revenue (USD Mn)
7.2. Market observations
7.3. Asia-Pacific - based on technology - forecasted (2018-2023) market size (USD Mn), key observations
7.4. Asia-Pacific - based on end use industry - forecasted (2018-2023) market size (USD Mn), key observations
Chapter 8. Latin America proximity sensors market
8.1. Market overview
- Revenue (USD Mn)
- Forecasted market revenue (USD Mn)
8.2. Market observations
8.3. Latin America - based on technology - forecasted (2018-2023) market size (USD Mn), key observations
8.4. Latin America - based on end use industry - forecasted (2018-2023) market size (USD Mn), key observations
Chapter 9. The Middle East and Africa proximity sensors market
9.1. Market overview
- Revenue (USD Mn)
- Forecasted market revenue (USD Mn)
9.2. Market observations
9.3. The Middle East and Africa - based on technology - forecasted (2018-2023) market size (USD Mn), key observations
9.4. The Middle East and Africa - based on end use industry - forecasted (2018-2023) market size (USD Mn), key observations
Chapter 10. Competitive landscape
10.1. ST Microelectronics NV
10.1. a. Company snapshot
10.1. b. Key financials
10.1. c. Business description
10.1. d. Major products and services
10.1. e. Growth strategies and major initiatives
10.2. Semtech Corporation
10.3. Rockwell Automation Inc.
10.4. Panasonic Corporation
10.5. IFM Electronic GmbH
10.6. Sick AG
10.7. Pepperl + Fuchs GmbH
10.8. Schneider Electric SE
10.9. Broadcom Inc.
10.10. Porter's five forces analysis
Chapter 11. Conclusion
11.1. PESTLE analysis
11.2. Impact assessment
11.3. Future outlook
Chapter 12. Appendix
• List of tables
• Assumptions
• Research methodology
• About Research On Global Markets
Disclaimer
The Digital Smart Waste Management Sensors and Software Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, compet...
The Cryogenic Temperature Sensors Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape, manuf...
Executive Summary
Azoth Analytics has released a research report titled "Global Current and Voltage Sensors Market (2024 Edition)" which provides a complete analysis of the Global Current and Voltage Sensors industry in terms of market segmentation By Technology Type (Hall Effect Techno...
The Pressure Sensors in Residential HVAC Systems Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive l...
The Pressure Sensors in Non-residential HVAC Systems Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competiti...
The Forklift Pedestrian Proximity System Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape...
Asia Pacific drone payload market will grow by 14.2% annually with a total addressable market cap of $67.15 billion over 2024-2033. The growth is driven by increasing applications of drones, rising defense investments in unmanned technologies, the development of advanced drone payload systems, incre...
Europe drone payload market was valued at $1,93 billion in 2023 and will grow by 12.3% annually over 2023-2033. The growth is driven by increasing applications of drones, rising defense investments in unmanned technologies, the development of advanced drone payload systems, increase in market for lo...
North America drone payload market is projected to grow by 11.7% annually in the forecast period and reach $11.71 billion by 2033. The growth is driven by increasing applications of drones, rising defense investments in unmanned technologies, the development of advanced drone payload systems, increa...
Global drone payload market will reach 33.86 billion by 2033, growing by 12.8% annually over 2023-2033. The growth is driven by increasing applications of drones, rising defense investments in unmanned technologies, the development of advanced drone payload systems, increase in market for location-b...