Press release
Proximity Sensors Market Asia Pacific to Exhibit Leading CAGR
In the light of intense competition in the market, the multitude of international and regional players are focused on providing cost competitive products that will help them gain competitive advantage. Strategic partnerships, acquisitions, and expansion of business through new service additions are some other key growth strategies adopted by companies in this market.
Pepperl + Fuchs GmbH, Sick AG, Omron Corporation, IFM Electronic GmbH, Panasonic Corporation, Schneider Electric SE, Rockwell Automation Inc., Semtech Corporation, Vishay Semiconductors, ST Microelectronics NV, Qualcomm Technologies, Futek Advanced Sensor Technology Inc., NXP Semiconductor, Sensata Technologies, and Infineon Technologies AG are to name key players in the global proximity sensors market.
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A report by Transparency Market Research (TMR) estimates the global proximity sensors market to expand at a CAGR of 5.1% for the forecast period between 2017 and 2025, for the market to become worth US$3,754.8 mn by the end of 2025. Out of the various segments based on technology, capacitive sensors currently holds the leading share and is anticipated to retain its leading share during the forecast period. In terms of region, Asia Pacific held lead in the overall market in 2016; going forward, the region is anticipated to display leading growth rate over the forecast period.
Deployment in Vehicles to Enhance Safety Benefits Market
One of the key growth drivers of the global proximity sensors market is the wide use of sensors in industrial applications, consumer electronics, and others.
Apart from this, some specific applications that use sensors are liquid level sensing, smartphone screens, vehicle detection, etc. Proximity sensors are discrete sensors that can sense and detect when an object is in the vicinity of the sensor face. Proximity sensors do not require physical contact to detect an object, unlike traditional sensors.
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Proximity sensors detects movement or presence of an object in the vicinity to convert into an electrical signal. Proximity sensors have the capability to detect metallic objects, non-metallic objects, and fluids among other objects.
Increasing demand for accurate detection of hindrances for vehicles has led to an upsurge in the adoption of proximity sensors globally. Manufacturers in the automotive industry are increasingly incorporating proximity sensors in the doors of vehicles to enable quick access in vehicles. The aviation sector is also likely to rev up adoption of proximity sensors owing to electromagnetic and ultrasound features.
Extensive Use in Consumer Electronics a Boon for Market
The incessant growth of consumer electronics industry has led to the increasing popularity of proximity sensing technology. Manufacturers are introducing new products to the market every year to serve the growing demand.
Among an array of consumer electronics, proximity sensing technology finds extensive application in smartphones. Currently, smartphones use IR-based proximity sensor technology to detect the presence of a human ear in order to reduce display power use by switching off the LCD backlight. It also helps disable touch screen to avoid unintentional touches by the cheek.
However, recent advancements in capacitive proximity sensing technology that addresses some drawbacks of IR sensing technology could find use in smartphones. This is expected to create growth opportunities for the proximity sensors market during the forecast period.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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