Global Proximity Sensor Market to 8.77% CAGR to 2021 – Analysis of General Electric, Honeywell, Panasonic, and OMRON

MarketResearchNest.com adds “Global Proximity Sensor Market 2017-2021” new reports to its research database. The report spread across 93 pages with tables and figures in it.

The research analysts forecast the global proximity sensor market to grow at a CAGR of 8.77% during the period 2017-2021.

A proximity sensor is an electronic sensor used to detect the presence of nearby objects without having any physical contact with them. These sensors emit a beam of electromagnetic radiation or electromagnetic field and monitor the deviation or delay in the return of the signal or field. The object that is being sensed acts as a proximity sensor's target.
Based on the type, the target object for proximity sensors may vary. For instance, capacitive or photoelectric proximity sensors are suitable for detecting plastic targets, whereas an inductive proximity sensor is preferred for a metallic target.

Get more details about report at https://www.marketresearchnest.com/global-proximity-sensor-market-2017-2021.html

Technavio recognizes the following companies as the key players in the global proximity sensor market: General Electric, Honeywell, Panasonic, and OMRON

Other Prominent Vendors in the market are: Broadcom, Balluff, Eaton, Festo, ifm electronic, MICRO-EPSILION, NXP Semiconductors, Rockwell Automation, Schneider Electric, and SICK.

The latest trend gaining momentum in the market is Integration of ALS and proximity sensors into a single module. The trend of miniaturization of electronic devices, specifically mobile computing devices, has resulted in the integration of components into a single module. ALS and proximity sensing are optical systems that use a sensing light-emitting diode (LED). The integration of ALS into proximity sensors along with an LED lighting source has resulted in significant benefits, including the ease of implementation and faster time to market

Order a Purchase Report Copy at https://www.marketresearchnest.com/purchase.php?reportid=264867
(This is premium report, Single User License – USD 3500 and Corporate User License – USD 6000)

According to the report, one of the major drivers for this market is Increasing awareness of monitoring and safety systems in automobiles. Proximity sensors are increasingly being used in different automobile parts, such as in front assist, rearview assist, and side assist monitoring systems. They are also used for gesture control for audio, navigation, HVAC, and smartphone connectivity functions.

Further, the report states that one of the major factors hindering the growth of this market is Limited product variation between different manufacturers. The proximity sensor market is characterized by the presence of organized and unorganized markets. The declining proximity sensor prices have resulted in low profit margins for vendors. This has led to the low capital expenditure by vendors on product differentiation. Owing to the lack of differentiation, the majority of the OEMs offer their products at competitive prices. This increases the price pressure on market vendors, resulting in a competitive environment with reduced profit margins. Thus, the unorganized market, mainly in China, has started offering products at low prices, which is increasingly affecting their profit margins and the overall market revenue.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Inquire before buying this report at https://www.marketresearchnest.com/enquirybuy.php?reportid=264867

MarketResearchNest.com is the most comprehensive collection of market research products and services on the Web. We offer reports from almost all top publishers and update our collection on daily basis to provide you with instant online access to the world’s most complete and recent database of expert insights on global industries, organizations, products, and trends.

Mr. Jeet Jain
Sales Manager
sales@marketresearchnest.com
+1-240-284-8070 / +44-20-3290-4151

This release was published on openPR.