North American Proximity Sensor Market is Projected to Rise at a Modest CAGR of 7.17% by 2023 with Top Industry Players: GENERAL ELECTRIC, EATON CORPORATION, ROCKWELL AUTOMATION, OMRON, PANASONIC, BALLUFF GMBH, HONEYWELL INTERNATIONAL

North American Proximity Sensor Market Highlights
The North America proximity sensor market was valued at USD 1.42 billion in 2017, and is expected to reach a value of USD 2.15 billion by 2023, at a CAGR of 7.17% over the forecast period (2018 - 2023). The scope of the report includes technologies, like inductive, capacitive, and photoelectric, and is limited to end users, like aerospace & defense, industrial, automotive, and marine. The countries considered in the scope of the report include the United States and Canada.

Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/17294
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Growth in Industrial Automation - One of the Major Drivers of the Market
The industrial automation segment has been emerging to be a relatively more attractive space for investment by organizations across the globe. The dependence on robots in industrial controller mechanisms is an established trend, paving the way for a larger and wider adoption of the industrial control and automation equipment. However, limitations in sensing capabilities and availability of other sensors at a lower cost might hinder the growth of the market.

Key Developments in the Market
• August 2017: Honeywell announced the launch of proximity sensors for aircraft. Honeywell has launched a new series of self-diagnosing sensors designed to improve the performance of aircraft systems and reduce maintenance costs by helping to eliminate false readings. Integral health monitoring (IHM) proximity sensors, which detect when a sensor has been damaged or otherwise affected, can be integrated into an aircraft’s thrust reverser actuation system, flight controls, doors, and landing gear, among others.
• May 2017: Turck announced its new range of 8 mm barrel inductive proximity sensors. The technology of the ferrite core sensors has evolved, increasing the sensing range by up to 50%. As a result, flush mounted solutions can now be offered with an extended sensing range of 3 mm, as well as with the conventional sensing range of 2 mm. The non-flush sensors are likewise available with a 3 or 5 mm sensing range. Turck is also now able to produce devices with an ultra-short 15 mm design.

Major Players:
GENERAL ELECTRIC, EATON CORPORATION PLC, ROCKWELL AUTOMATION, INC., OMRON CORPORATION, PANASONIC CORPORATION, NXP SEMICONDUCTORS N.V., BALLUFF GMBH, HONEYWELL INTERNATIONAL INC., AND TURCK, INC. among others.

Request Discount on this report @ https://marketprognosis.com/discount-request/17294
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Automotive Industry to Have the Highest Market Share during the Forecast Period
The automotive industry in the region is flourishing due to the advent of self-driving cars, and increasing demand for advanced and better vehicles, like SUVs and pickup trucks. The United States is the dominant country in the region, owing to the presence of major industries, established car manufacturers, a booming healthcare industry, etc. From an automotive point of view, the United States houses major players, like General Motors and Ford, while also having manufacturing plants of other manufacturers, like Hyundai and Kia. Around 14.5 million automobiles were sold in North America. In the near future, large area proximity sensing may influence the market growth.

Inductive Proximity Has a Major Market Share Among Other Sensors
The inductive proximity sensors are expected to be a cost-effective and reliable solution for most of the applications in automation equipment and machinery. These sensors are not influenced by vibrations, water, oil, and dust, which makes them suitable for harsh environments. The major applications of these sensors include, machine tools, agriculture, and material handling systems. Inductive sensors play a critical role in obtaining quality and higher productivity from the automated process. As these sensors have no moving parts, their service life is independent of the number of operation cycles.
Inductive proximity sensors are used majorly in the industrial and automotive segments. These sensors are set to witness an increased growth rate in these industries as they are cheaper and efficient, and industries, like the automotive, require such technologies to match the growing consumer demand. In the industrial segment, the harsh environmental resistance, robust nature, and extreme reliability are expected to witness an increased adoption rate for many applications. However, these sensors can only detect metal objects, limiting their functionality in other industries that do not make use of metal, and this can affect the growth of the North America proximity sensor market.
North America houses some of the world’s most-established automobile manufacturers, like General Motors and Ford, who rely on cutting edge technology to deliver the best driving experience to consumers. This involves integrating the latest technological advancements with the automobiles being manufactured, and proximity sensor is one major technology that is being used for parking sensors, gesture recognition to make phone calls, etc.
As consumer demand for safety rises (coupled with technological advancements and development of smart cars), the adoption of proximity sensors is also set to witness a significant rise, boosting the growth of the North America proximity sensor market.

Enquiry Before Buying@ https://marketprognosis.com/enquiry/17294
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMarkPvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

This release was published on openPR.