Proximity Sensor Market Evolving Technology, Growth and Demand Outlook 2022 to 2027: Panasonic Corporation, SICK AG, ST Microelectronics NV, Delta Electronics Inc

The report presents an in-detailed information of the Proximity Sensor Market by latest technologies, key trends, market drivers, challenges, standardization and regulatory landscape. The report also focuses on deployment models, future roadmap, value chain, ecosystem player profiles and policies. This report is a complete quantitative review of the Proximity Sensor Market and delivers data for building strategies to expand the market growth and efficiency.

The proximity sensor market was valued at USD 3790.5 million in 2020 and is expected to reach USD 5761.12 million by 2027 and grow at a CAGR of 7.3% over the forecast period (2022 - 2027). 

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Top Companies in the Global Proximity Sensor Market: Panasonic Corporation, Riko Opto-electronics Technology Co. Ltd, SICK AG, ST Microelectronics NV, Delta Electronics Inc., Autonics Corporation, Datalogic SpA, OMRON Corporation, Rockwell Automation Inc., Pepperl+Fuchs GmbH, Keyence Corporation, Honeywell International Inc.and others.

Industry News:

- Apr 2019 - SICK AG partnered with a software solution provider, AutoCoding Systems (ACS). This partnership may enable SICK to provide customers with a combined package of SICK's sensor technology and ACS's software platform.
- Jan 2019 - Sensor manufacturer, Ams launched a new in-display ambient light and proximity sensor solution for smartphones equipped with OLED displays, which essentially makes those modules invisible. The TCS3701 senses the light that passes through the display and using unique algorithms. The sensor can detect ambient light levels accurately without any information regarding the display pixel brightness above the sensor.

Segmentation by Types:

Active

Passive

Segmentation by Applications:

Item Counter

Distance Measuring

Security

Key Market Trends
Automotive Industry is Expected to Hold the Largest Market Share
- The touch-free user interface is driving the adoption of proximity sensors in automotive applications. Applications, where these sensors can be used in automotive, include infotainment system, keyless entry system, 3D gesture, and interior lighting control.
- In the parking assistance system, these sensors can detect the presence of objects in the pathway of the reversing vehicle and can raise the alarm to warn the driver. Proximity sensors also prevent collision with pedestrians while parking.
- Due to the increasing purchasing power of the millennial population, there is a constant demand for passenger cars. Globally, the number of passengers crossed 86 million units mark in 2018, and the market is expected to follow the trend during the forecast period.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Proximity Sensor Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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