Displacement Sensors Market | Current Insight with Future Aspect Analysis by TMR

Displacement sensors are also known as displacement gauges which are used to measure the travel range between the object's current position and its reference point. These are used for dimension measurement to determine an object's thickness, height, and width. The displacement sensors work in two different ways include non-contact measurement using the magnetic field, light or sound waves and in direct contact with an object. There are various applications such as detection of stacked printed circuit boards (PCB), positioning of electronics components on the PCB during manufacturing and many others wherein the displacement sensors are used.

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Global Displacement Sensors Market: Dynamics

The key factors which drive primarily the growth of the global displacement sensors market are significantly increasing industrial automation along with the growing electronics industry due to robust growth in the demand for smartphones and other electronic products over the forecast period. Rising demand for non-contact sensing technology in the automotive industry fuels the global displacement sensors over the forecast period. Furthermore, robust growth in the construction industry along with the food and beverages industry are the major factors that drive the global displacement sensors market due to its high usage for supervision in various construction projects and in the packaging of products respectively. Additionally, high product innovation in displacement sensors such as compact and robust design from key manufacturers leads the global displacement sensors market towards significant growth over the forecast period. The key factors such as high development and installation cost and high labor cost in the North American region hinder the growth of the global displacement sensors market over the forecast period.

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Global Displacement Sensors Market: Segmentation

The global displacement sensors market is segmented by technology type, measurement type, product type, end-use industry, and region type.

Based on the technology type, the global displacement sensors market is classified into the followings:

• Laser
• LVDT
• Inductive
• Optical
• Eddy-current
• Confocal
• Capacitive
• Magnetic
• Potentiometer
• Mechanical
• Others

Based on the measurement type, the global displacement sensors market is classified into the followings:
• Non-contact
• Contact

Based on the product type, the global displacement sensors market is classified into the followings:
• Linear
• Angular
• Others

Based on the end-use industry, the global displacement sensors market is classified into the followings:
• Automotive
• Food and Beverages
• Cosmetics
• Electricals and Electronics
• Retail and Consumer Goods
• Packaging
• Construction

Global Displacement Sensors Market: Segmentation Overview

Among above mentioned end-use industries, the electrical and electronics segment, as well as the automotive industry, are anticipated to uplift the global displacement sensors market over the forecast period due to the significant usage of displacement sensors in the assembly of electronics components. Additionally, among the above-mentioned measurement type, the non-contact segment is estimated to witness the rapid growth rate in the global displacement sensors market due to its growing demand for industrial automation.

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Global Displacement Sensors Market: Regional Outlook

Based on geographies, the global displacement sensors market is classified into seven regions such as Western Europe, North America, Eastern Europe, Latin America, Asia Pacific excluding Japan, Japan, and the Middle East and Africa. Among the above-mentioned regions, North America accounts high market share in the global displacement sensors market over the forecast period, attributed to growing innovation such as displacement sensors with laser technology across the region followed by Western Europe. The Asia Pacific excluding Japan is anticipated to showcase a significant growth in the global displacement sensors market over the forecast period, owing to the significant growing electronics industry along with robust growth in the manufacturing industry in emerging countries such as China and India across the region. Latin America is predicted to see extensive growth in the global displacement sensors market due to the significantly growing manufacturing industry in Brazil. Japan is predicted to see a significant CAGR in the global displacement sensors market over the forecast period, attributed to the high usage of displacement sensors in the automotive industry for thickness measurement.

Global Displacement Sensors Market: Key Players

A few key players in the global displacement sensors market are Omron Corporation, ifm electronics GmbH, Lion Precision Inc., Continental AG, Schneider Electric SA, Panasonic Corp, Spectris PLC, Micro-Epsilon Messtechnik GmbH & Co. KG, and Riftek LLC. Key manufacturers are focusing toward innovation in products such as non-contact linear displacement sensors with laser technology which provides high speed and efficiency.

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