Proximity And Displacement Sensors Marketing Trends That Will Take Off In 2020

Proximity and Displacement Sensors Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $5.32 billion by 2020, registering a CAGR of 8.7% during the period 2015-2020.

View Detail Summary of this report: https://www.alliedmarketresearch.com/proximity-and-displacement-sensors-market

Presently, automotive industry is the largest end use segment with about 30%market share. North America is leading region with large presence of technologically advanced manufacturing companies, closely followed by the Asia Pacific. However, Asia Pacific is expected to overtake North America by 2016 due to strong demand from robust automotive and manufacturing industries in Asian countries, especially in China and India.

The growing emphasis of process automation in automotive, manufacturing and food and beverages industries has facilitated the demand of proximity and displacement sensors globally. Besides this, the elevators and escalators, pulp and paper industries have further amplified the demand. Recent recovery in automotive and various commodity manufacturing industries has fuelled the growth of this market. Especially, the ever-rising investments towards factory automation to meet zero defect production goals would intensify the demand in the market. The ongoing technology advancements by industry players for product differentiation to compensate the price pressure challenges would influence the industry in terms of demand.

Inductive sensors are finding widespread applications for discrete automation purposes. Some of the major applications that supplement the rising demand for inductive sensors include various self-service equipment from Automated Teller Machines (ATM), Automotive Vending Machines to gaming machines. Besides this, photoelectric sensors are widely sought sensors by the customers with dominant applications in automotive and food & beverages industry. The rapidly growing automotive industry, especially, in context to the manufacturing hubs such as China and India, would ultimately boost the growth of these sensors.

North America, with an impressive presence of substantial manufacturing companies, is currently leading the proximity and displacement sensors market, globally. However, the on-going trend of shifting manufacturing plants to low labour cost countries would largely boost the growth of the proximity and displacement sensors industry in Asian region.

Key findings of Proximity and Displacement Sensors Market:

• The global market for proximity and displacement sensors would exhibit significant growth, highlighting the importance of factory automation and increasing workplace safety during the forecast period (2014 - 2020)
• The elevators and escalators sector would grow at the fastest CAGR of 10.6% during 2014 - 2020
• Automotive industry would continue to maintain its leading position through 2020
• Asia Pacific region would take over the North America proximity and displacement sensors market by 2016
• Latin America, Middle East and Africa region would emerge as one of the most lucrative markets, in terms of growth

Although proximity and displacement sensors market comprise of a few global players, this market consists of various regional players delivering standard solutions across different regions. Players such as Omron Corporation, Keyence Corporation, ifm electronic GmbH have a worldwide presence with a stronger product portfolio. Along with these big players, many small players such as Lion Precision, Pepperl+Fuchs deliver their products across different parts of the globe. Industry players are constantly launching newer products with advanced features to improve their market presence. For instance, ifm electronic GmbH, one of the leading technologically advanced sensors manufacturer, has introduced its new photoelectric sensor capable of detecting any coloured object within a long range. The report covers a detailed study of numerous players such as ifm electronic GmbH, Kaman Corporation, Keyence Corporation, Lion Precision, Micron Optics, Omron Corporation, Panasonic Corporation, Pepperl+Fuchs, Standex-Meder Electronics and Turck, Inc.

About Us:
Allied Market Research is a global market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Our market research department starts with the research task considering specific concerns and ambitions of the client. We understand that every market is driven by certain key factors locally as well as globally. Our analysts dig out those factors, helping clients understand the importance and impact of every such driving force. Moreover, possible restraints of the market are discovered and suggestions to tackle those restraints are formulated after extensive research and analysis of the overall market conditions. Making an even deeper insight, we analyze the market trend including both qualitative and quantitative present market scenario in every geographical region segmented as per the business domain concerned and overall performance in different regions throughout the globe.

5933 NE Win Sivers Drive,
#205, Portland, OR 97220,
United States.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

This release was published on openPR.