San Francisco, 5 December 2018: The global market for proximity and displacement sensors is expected to reach over USD 6
billion by 2022, growing at an estimated CAGR of around 9% from 2015 to 2022,
according to a new study by Grand View Research, Inc. Technical advancement
leading to miniaturization of proximity and displacement sensors is one of the
key trends driving the global market towards growth.
Moreover, factory process automation,
growing awareness towards energy efficiency and rising demand for elevators and
escalators are some of the major factors driving the growth of the market. In
addition, booming market for smart-phones, tablets and other gadgets is
propelling the demand for the sensors globally. Considering all the above
mentioned factors, the global market is anticipated to reach over USD 6
billion.
However, the implementation of integral
automation system attracts a huge amount of initial investment, leading to rise
in the overall cost to customers. Thus, high cost of the sensors is primarily
challenging the growth of the global market.
Access
Research Report of Proximity -
Displacement Sensors Market @ www.grandviewresearch.com/industry-analysis/proximity-displacement-sensors-market
Further key findings from the study suggest:
· Photoelectric sensors segment accounted was
valued for around 1.2 billion in 2014. Its wide application in variety of
industries is mainly contributing to the largest market share of the segment
amongst others.
· Ultrasonic sensors segment is anticipated
to show fastest growth rate during the forecast period. Commercial availability
of technically advanced products and thereby rising adoption is one of the
major factors expected to boost the demand for ultrasonic sensors during the
forecast period. The segment is expected to reach over USD 290 million with
CAGR of around 21% during the forecast period.
· Parking sensors market accounted for the
largest application segment market in 2014 owing to ability of installation of
these sensors through OEM and aftermarket services. Thus, inbuilt sensors
coupled with aftermarket installations result in largest revenue generation for
the segment.
· Moreover, installation of parking sensors
is costly through OEM owing to requirement of extra precautions for safety. As
a result, high cost adds up to the overall revenue of generated by the parking
sensors making it highest revenue generating segment.
· Booming construction industry is resulting
in increased elevators and escalators which primarily use proximity and
displacement sensors. Thus, the segment is anticipated to show significant
growth during the forecast period among other end use segments.
· North America dominated the global market
in 2014 and was followed by Europe in 2014. Highly developed automotive,
construction and food and beverage industry is one of the major factors driving
the growth of the market in North America Europe.
· Emerging economies of Latin America such as
Mexico, Argentina and Brazil are anticipated to show fastest growth rate in
terms of adoption of proximity and displacement sensors during the forecast
period.
· Key driving factors for the growth of Latin
American market include increasing disposable income resulting in rising
purchase of electronic gadgets, and automobiles. Moreover, growth in the
foreign investment in order to reduce the manufacturing cost is resulting in
rapidly improving manufacturing infrastructure. Resultant industry automation
is driving the growth of the sensors market in this region.
· Key players of this market include Eaton
Corporation, OMRON Corporation, Honeywell International Inc., Panasonic
Corporation, Pepperl+Fuchs GmbH, Standex Electronics GmbH, and Sharp
Corporation
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/sensors-and-controls
Grand View Research has segmented the
Proximity and Displacement Sensors market on the basis of materials,
application, end use, and region:
Proximity and Displacement Sensors, By
Material
·
Inductive sensors
·
Photoelectric sensors
·
Capacitive sensors
·
Ultrasonic sensors
·
Magnetic Sensors
·
LVDT Sensors
Proximity and Displacement Sensors, By
Application
·
Parking sensor systems
·
Ground proximity warning system
·
Vibration monitoring and measurement
·
Anti-aircraft warfare
·
Roller coasters
·
Conveyer System
·
Mobile devices
·
Assembly line testing
·
Others
Proximity and Displacement Sensors, by End
Use
·
Automotive industry
·
Pharmaceuticals industry
·
Food and beverage industry
·
Pulp and paper industry
·
Elevators and escalators industry
·
Manufacturing industry
·
Metals and mining industry
Proximity and Displacement Sensors,
By Region
·
North America
o
Proximity and Displacement Sensors, By Type
o
Proximity and Displacement Sensors, By
Application
o
Proximity and Displacement Sensors, By End
Use
·
Europe
o
Proximity and Displacement Sensors, By Type
o
Proximity and Displacement Sensors, By
Application
o
Proximity and Displacement Sensors, By End
Use
·
Asia Pacific
o
Proximity and Displacement Sensors, By Type
o
Proximity and Displacement Sensors, By
Application
o
Proximity and Displacement Sensors, By End
Use
·
Rest of the World (RoW)
o
Proximity and Displacement Sensors, By Type
o
Proximity and Displacement Sensors, By
Application
o Proximity and Displacement Sensors, By End Use
Access Press Release of
Proximity - Displacement Sensors Market@ www.grandviewresearch.com/press-release/global-proximity-displacement-sensors-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
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