Proximity Sensor Market Study: An Emerging Hint of Opportunity

Proximity sensors are used to detect the presence or absence of objects using light, electromagnetically field, and sound. Demand for proximity sensors is increasing for a broad range of applications, such as detection, inspection, positioning, robotics, and consumer products. These proximity sensors are becoming increasingly popular in the automotive industry, due to inherent advantages such as low cost, safety, low power, and ability to integrate with sliders, touch buttons, and others, for automotive sensing applications. Increasing awareness related to monitoring and safety systems in the automotive industry is expected to boost the growth of the proximity sensor market over the next decade.

As per PMR's report, the global proximity sensor market generated a market revenue of US 3.3 Bn in 2019, and is expected to expand at a steady CAGR of 6% during the forecast period (2022-2030).

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Company Profiles:
• Panasonic Corporation
• ST Microelectronics NV
• Autonics Corporation
• OMRON Corporation
• SICK AG
• Riko Opto-electronics Technology Co. Ltd
• Datalogic SpA
• Rockwell Automation Inc.
• Honeywell International Inc.
• Pepperl+Fuchs GmbH
• Keyence Corporation
• NXP Semiconductor
• Balluff GmbH.
• Fargo Controls, Inc.

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Key Takeaways from Proximity Sensor Market Study
• The automotive segment is expected to gain significant share, due to wide application of proximity sensors for sensing and collision detection.

• Capacitive proximity sensors are suitable for application with various types of materials, and are broadly used for industrial applications, which drives market growth.

• The inductive sensors segment is expected to hold a prominent share in the proximity sensor market, owing to increased fidelity of position detection and decreased maintenance cost of these system for aircraft applications.

• Increasing adoption of proximity sensors in robotics is anticipated to result in significant dominance of North America in the global proximity sensor market.

• Due to the COVID-19 outbreak, demand for proximity sensors has surged so as to enhance workplace safety and ensure contact tracing via proximity detection tags.

"Due to increasing adoption of automation technologies for industrial process and control devices, demand for sensors in the industrial ecosystem is growing rapidly. Proximity sensors are used for sensing, positioning, and detection, within industrial automation applications, for non-contact proximity detection, which will drive market growth over the coming years," says a PMR analyst.

Technological Advancements in Proximity Sensors to Boost Market Growth
Proximity sensors have seen an evolution from low-sensing capabilities to high-sensing and detection functions. The proximity sensor market landscape has evolved from fixed-sensing to auto-sensing proximity sensors. Moreover, the range of proximity sensors has increased due to wide application areas across industries. Modern-day proximity sensors have very high characteristic safety values, such as increased temperature range as well as increased EMC resistance.

In May 2019, Pepperl+Fuchs GmbH, introduced an inductive proximity sensor containing four rectangular and cylindrical series with a cable and plug connection. Such high-quality inductive proximity sensors are used to meet the needs of the automation industry.

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More Valuable Insights on Proximity Sensor Market
A new market research report published by Persistence Market Research (PMR) on the global proximity sensor market includes global industry analysis of 2015-2019 and opportunity assessment for 2019-2030. The report provides valuable insights on the basis of technology (magnetic sensors, photoelectric sensors, capacitive sensors, inductive sensors, and others), type (adjustable distance proximity sensors and fixed distance proximity sensors), sensing range (less than 10 mm, 10 mm - 20 mm, and more than 20 mm), and application (consumer electronics, pharmaceuticals, industrial manufacturing, food & beverages, automobiles, aerospace & defense, and others), across six major regions.

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