Detailed Insights on Global Proximity Sensors Market Competitive Intelligence & Company Profiles Report

The global proximity sensors market was valued at US$ 4.31 Bn in 2018 and is expected to reach US$ 6.66 Bn by the end of the forecast period, growing at a CAGR of 7.52% during the period from 2018 to 2023. Browse industry intelligence content at: https://www.inforgrowth.com/r/1213279/global-proximity-sensor-market-company-profiles-and-competitive-intelligence-report-2018

The major key players dominating the market are Panasonic Corporation, NXP Semiconductors N.V., Omron Corporation, Balluff GmbH, Rockwell Automation Inc., Turck, Inc., Honeywell International Inc., Eaton Corporation PLC, General Electric, and others. The company profiles will include key information about companies such as company description, base of operations, operational presence, product/business portfolio, employee strength, list of key stakeholders and board of directors, organizational structure, key competitors and their details, financial information such as revenue growth, profit margin, market capitalization, market positioning of key players, share price comparison, SWOT analysis, key developments, business strategies, and analysts’ views. The information for individual companies has been derived through financial reports, paid databases, and company news articles, among others.

The global proximity sensor market is highly fragmented owing to the presence of international and regional and local vendors. The demand for proximity sensor is expected to grow due to the rising investments in R&D by key players such as Omron Corporation, Panasonic Corporation, Honeywell International Inc., NXP Semiconductors N.V., and others. To expand the market, the majority of the vendors are adapting new technologies and also carrying out product launches, in order to gain competitive advantage in the global market. The competition in the global proximity sensor market is intense as various vendors are providing the technology to various end-use industries for market expansion. The competition in this market will further strengthen in the coming years with an increase in new product launches, innovations in technology, and M&A. For instance, in 2017, Honeywell has launched a new series of self-diagnosing sensors that are primarily designed for enhancing the efficiency of aircraft systems. The sensors also help in reducing maintenance costs by eliminating false readings.

The global proximity sensors market is growing owing to the rising demand in the industrial automation sector. Moreover, the increasing number of vendors that facilitate industrial automation and an increase in demand for Industrial Internet of Things (IIoT) are the key factors driving the proximity sensors market. Proximity sensor technology has also been implemented by various small and medium-sized enterprises due to its enhanced technology and cost-effective solutions & services. This is widely adopted primarily for streamlining the operations, enhancing the industrial automation, and for modifying the manufacturing landscape of the company. Thus, the integration of proximity sensors in industrial automation is gaining momentum across various industries.

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Recent Developments in the Market:
Turck: In 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 now also producing devices with an ultra-short 15 mm design.

AMS: In Jan 2019, AMS has introduced world’s smallest 1D time-of-flight sensor for accurate proximity sensing and distance measurement in smartphones. This sensor is primarily being implanted for detecting, for example, to trigger the operation of a facial recognition system when the user’s face is in range. This sensor is available in a 2.2mm x 3.6mm x 1.0mm package. The new TMF8701 sensor fits in a narrow bezel, helping the smartphone manufacturers to support widescreen phone designs with a high display screen to body ratio.

• Who are the key competitors of companies with respect to their products, revenue, geographical presence, and market positioning?
• How is a particular company performing against its competitors?
• What are the Strengths, Weaknesses, Opportunities, and Challenges for major companies in the market?
• What are the strategies for growth adopted by the companies in the market?
• What is the market positioning of the players with respect to business strength and product portfolio?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
• How is the market players’ presence with respect to region and segment?
• Who are the key customers of the market?

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Related Reports on Proximity Sensors Market:

Global Proximity Sensors Market Full Report
Global Proximity Sensors Market Summary Report
Global Proximity Sensors Market Segmentation Report
Global Proximity Sensors Market Regional Report
Global Proximity Sensors Market Statbook

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