Proximity and Displacement Sensors Market Size Is Set To Fly High In Years To Come | ifm electronic gmbh, Kaman Corporation, Keyence Corporation, Lion Precision

A proximity sensor is integrated in systems to detect the presence of an object of interest within the vicinity of the sensor. The function is featured with non-contact detection ensuring a high degree of reliability and durability of sensor. A displacement sensor measures the displacement of object of interest from one point to another. Today, the market for proximity and displacement sensors is in a progressive phase of its product life cycle. Rapidly growing demand of these sensors in the development of factory and process automation systems has increased the rivalry in the Proximity and Displacement (P&D) sensor market creating a healthy competitive environment in the market.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Rising trend of process automation in factories and the continuous growth of smartphone and tablet market, largely drive the proximity & displacement sensors market. In addition, the declining price trend is expected to drive the market exponentially. Growing popularity towards contact less sensing applications and the interest of automobile manufacturers towards the integration of sensor technology in automotive security and infotainment systems will eventually uplift the market for proximity and displacement sensors. The application industries studied in the report include parking sensor systems, ground proximity warning system, anti-aircraft warfare, roller coasters, conveyor systems, vibration monitoring systems, assembly line testing, mobile devices and others. Parking sensor system holds the maximum revenue share presently, followed by conveyor system, and mobile devices.

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The proximity and displacement sensors, in accordance to end users, are segmented into industries such as automotive, pharmaceutical, pulp and paper, food and beverages, manufacturing, elevators and escalators, & metals and mining. The automobile and manufacturing industries hold a higher market share with higher unit cost along with a higher size of demand.

Geographically, the global market is segmented across North America, Europe, Asia-Pacific, and LAMEA. North America was the leading region in proximity and displacement sensors market followed by Asia-Pacific in 2013. Most of the OEM's are concentrated in North America & Asia-Pacific region. This is a key reason for the substantial market share in this region.

KEY BENEFITS

The report analyzes key market trends, industry growth, driving & limiting factors and opportunities of the global proximity and displacement sensor's market for a better preview of the global market
The global geography analysis helps in identifying key players in the market and their strategic moves to maintain their position in the global market
Porter's five force model highlights the market threats, and the competitive scenario which enables the stakeholders in the market to devise appropriate strategies
The analysis identifies potential prospects for players to expand their market presence and increase their market share
Research includes the micro level analysis based on sensor's types, applications, end users and geographies to know the market dynamics in a better way

KeyMarket Segmentation
The global proximity and displacement sensors market is segmented based on the proximity and displacement sensor types, their applications, end users and geographies.

Key Players

ifm electronic gmbh
Kaman Corporation
Keyence Corporation
Lion Precision
Micron Optics, Inc.
Omron Corporation
Panasonic Corporation
Pepperl + Fuchs
Standex-Meder Electronics Inc.
TURCK, Inc.

MARKET BY TYPE

Inductive sensors
Photoelectric sensors
Capacitive sensors
Ultrasonic sensors.
Magnetic sensors
LVDT sensors

MARKET BY APPLICATION

Parking Sensor Systems
Ground Proximity Warning System
Anti-aircraft warfare
Assembly line automation
Vibration monitoring system
Roller coasters
Conveyor systems
Mobile devices
Others (detection of surface run-out of blades, precision thickness measurement, and disc driving spindle)

MARKET BY END USERS

Automotive industry
Pharmaceutical industry
Food and beverage industry
Pulp and paper industry
Elevators and Escalators industry
Manufacturing industry
Metals and mining industry

MARKET BY GEOGRAPHY

North America
Europe
Asia-Pacific
LAMEA

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