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Proximity Sensors: Growth YoY, Market Review and Sales Forecast

Proximity Sensors Market

Proximity Sensors Market

A new research document is added in HTF MI database of 87 pages, titled as 'Global Proximity Sensors Market (2018-2023) Share, Scope, Growth Forecast, Trends, Drivers, Challenges, Segmentation based on Technology (Photoelectric, Capacitive, Inductive, Magnetic, Ultrasonic) End-Use Industry (Consumer Electronics, Aerospace and Defence, Manufacturing, Automotive, Food and Beverage, Metals and Mining, Others) and Geography (North America, Asia Pacific, The Middle East and Africa, Europe and Latin America)' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Europe & Asia and important players/vendors such as ST Microelectronics NV, Semtech Corporation, Rockwell Automation Inc., Panasonic Corporation, IFM Electronic GmbH , Sick AG, Pepperl + Fuchs GmbH, Schneider Electric SE, Broadcom Inc. The report will help you gain market insights, future trends and growth prospects for forecast period of 2020-2025

Request a sample report @ https://www.htfmarketreport.com/sample-report/2210060-global-proximity-sensors-market-1

#Summary:
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.

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Chapter 1. Executive summary
Chapter 2. Introduction
Chapter 3. Global proximity sensors market – based on technology
....Continued

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2210060-global-proximity-sensors-market-1

It's vital you keep your market knowledge up to date. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization accordingly.

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Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.

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