Inductive Proximity Sensor Market Forecasts to 2028 – Global Analysis By Type (M8, M12, M18), Product (Cylinder Sensors, Rectangular Sensors, Ring & Slot Sensors), Technology (Capacitive, Inductive) and By Geography
According to Stratistics MRC, the Global Inductive Proximity Sensor Market is accounted for $999.88 million in 2020 and is expected to reach $2,059.09 million by 2028 growing at a CAGR of 9.5% during the forecast period. The rise in their demand in the industrial automation applications sector and growth in the demand for the Industrial Internet of Things (IIoT) are driving the market growth. However, restrictions in sensing capabilities and availability of other sensors at a lower cost are hampering the growth of the market.
The proximity sensor denotes all sensors which make non-contact detection and which sense objects without physically contacting them. It transforms information on the movement or existence of an object into an electrical signal. These sensors are used to sense any object or a target without the need for any physical contact. These sensors are used in, mobile phones, parking lots, conveyor systems, and various other industrial applications.
Based on the application, the industrial automation segment is going to have lucrative growth during the forecast period, as they are inexpensive and proficient, and industries, like the automotive industry, need such technology to match the rising consumer demand. Moreover, these sensors are used mainly in industrial automation segments.
By geography, Asia Pacific is going to have high growth during the forecast period, owing to the rising automotive industry in Asia is generating the potential for the market. China has also become both the world’s largest car market and the world’s major production site for cars, comprising electric vehicles, with much-advanced potential. The rising concept of connected vehicles and electric vehicles additional spur the growth for inductive proximity sensors in the automotive sector across the region.
Some of the key players profiled in the Inductive Proximity Sensor Market include Altech Corp, Autonics Corporation, Datalogic S.p.A., Delta Electronics, Inc., Eaton Corporation Plc, IFM, Keyence Corporation, Omron Corporation, Panasonic Corporation, Pepperl+Fuchs, Riko Opto-electronics Co., Ltd., Rockwell Automation GmbH, Sick AG.
• Separate Amplifier
Inductive Proximity Sensors
• Switched Negative (NPN) Inductive Proximity Sensor
• Switched Positive (PNP) Inductive Proximity Sensor
• Cylinder Sensors
• Rectangular Sensors
• Ring & Slot Sensors
• Tubular Sensors
• Automated Industrial Processes
• Automotive Assembly
• Harsh Environments
• Industrial Environments
End Users Covered:
• Aerospace and Avionics
• Electronics and Semiconductors
• Elevators and Escalators
• Food & Beverage
• Industrial Automation
• Manufacturing Industry
• Metals & Mining Industry
• Transportation and Logistics
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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