Proximity and Displacement Sensor Market Size to Hit $1.8 billion by 2020

According to a new report published by Allied Market Research titled, Asia-Pacific Proximity and Displacement Sensors Market, the Asia-Pacific proximity & displacement sensors market is expected to reach $1.8 billion by 2020, registering a CAGR of 10.2% during 20152020. The major factor driving the market in the Asia-Pacific region is the increasing adoption of factory and process automation in automobile and manufacturing industries.

The Asia-Pacific proximity & displacement sensors market is expected to grow swiftly with the increasing need for automation in the coming years. Earlier, proximity and displacement sensor solutions were primarily used in automotive industry. However, with the introduction of advance technology and increasing awareness about the benefits of automated systems, other industries including pharmaceutical, pulp & paper, food & beverage, manufacturing, elevators & escalators and metals & mining industries are also adopting sensor-based automation technologies to efficiently manage their processes.

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With key factors, such as ongoing trend of factory and process automation, growing necessity toward energy-efficient systems and expanding application areas into electronics, the market for proximity and displacement sensors is anticipated to witness notable growth by 2020.

Among all the types of sensors considered in the report, the market is witnessing large adoption of inductive, and photoelectric sensors in automobile assembly lines operations which is in turn increasing the market share of these sensors in terms of revenue generation in overall market.

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China is anticipated to continue its dominance over the market in terms of demand for proximity and displacement sensor systems by the industries undergoing factory automation. The country is expected to exhibit large growth in terms of revenue generation for the market.

Growing industrialization in Malaysia, Thailand and Indonesia are creating opportunities for proximity and displacement sensors market to grow with high pace in these countries. With the advent of adaptive automation and increase in demand for proximity and displacement sensors, the growth prospects in these regions seems promising.

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