Proximity Sensors Market: Future Forecast Assessed on the basis of how the Market is Predicted to Grow

Protective navigation and accurate detection of the surrounding objects has led manufacturers to integrate proximity sensor devices in vehicles. Adoption of the proximity sensors in the vehicles indicates the driver before clashing into surrounding objects. Growing preference for accurate detection of surrounding objects in vehicles is expected to rev up demand for proximity sensor devices in the automotive industry.

Significant Adoption in the Automotive Industry

As detection of collisions in vehicles continues to gain importance, manufacturers turn their focus on equipping the vehicles with proximity sensors. Attributed to electromagnetic and ultrasonic features, the vehicles can park their vehicles conveniently and safely.

Shipping Industry to Fuel Adoption

Safe transport of the commercial goods and commodities has led to a surge in adoption of proximity sensors among the manufacturers of the ships and submarines. In addition, growing need for tracking the shipping routes and control traffic in order to prevent collisions has led to an upsurge in adoption of proximity sensors. Attributed to features such as sound navigation and electromagnetic radiation, the proximity sensors indicate the presence of surrounding objects near the ship and submarines. These indications enable the end users to divert from the obstruction and safely sail towards the destination.

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Aviation Industry to Impact Market Growth

Prevention of false reading in the aviation industry enables the aircrafts to reduce the maintenance cost and enhances performance. Growing need to prevent false reading continues to rev up demand for the proximity sensors in the aviation industry. Manufacturers mainly in the aviation industry are increasingly integrating proximity sensors in the thrust reverser actuation system, landing gears, doors and flight controls. Integration of the proximity sensors enable the end users to prevent unprecedented accidents attributed to electromagnetic features.

Considerable Adoption in the Healthcare Industry

Adoption of the proximity sensors also extends to the healthcare industry globally. With the developing medical technology, manufacturers are increasingly adopting the sensor system solution in the medical devices. Attributed to the pulse oximetry features, the medical devices can conveniently conduct the photoplethysmography procedure to detect the heart rate. Manufacturers also equip blood pressure monitors, ECG/KCG monitors and glucose monitors with the proximity sensors in order to enhance the treatment process.

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Adoption in Electronic Industry to Increase

A recent trend of integrating the proximity sensor devices among the manufacturers in the electronic industry has been witnessed. In an attempt to enhance interactions with the end user in the electronic industry, the manufacturers are focusing on integrating sensors in various electronic devices. This enables the end users to enhance interactions and save the battery power.

Electronic door locks, laptops, televisions and smartphones are a few electronic products that are equipped with proximity sensors. Such factors are expected to impact growth of the global proximity sensors market positively during the forecast period.

Inductive Technology to Represent a Leading Segment

With the growing need for detecting objects and hindrances while driving the vehicles is expected to fuel demand for the fixed distance products. On the basis of product type, the fixed distance segment is expected to witness the highest revenue growth, accounting for a value of over US$ 600 Mn by the end of 2022. However, the adjustable distance products is expected to register the highest CAGR in the global proximity sensors market during the forecast period.

Based on the end use industry, the industrial manufacturing segment is expected to witness significant revenue growth, recording a value of over US$ 200 Mn by the end of 2022. The industrial manufacturing segment and defense & aerospace segment is expected to register the highest CAGR in the global market throughout 2022.

Competitive Tracking

Leading market players in the global proximity sensors market include Broadcom Limited, IFM Electronic GmbH, Schneider Electric SE, Panasonic Corporation, Hans Turck GmbH & Co., KG, Rockwell Automation, Inc., OMRON Corp., Honeywell International Inc., Fargo Controls, Inc. and AMETEK, Inc.

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