Proximity Sensor Market

Global Proximity Sensor Market Size, Trends & Analysis - Forecasts to 2026 By Technology (Inductive, Capacitive, Magnetic, Photoelectric, Ultrasonic), By Product Type (Fixed Distance, Adjustable Distance), By Application (Aerospace & Defense, Automotive, Industrial Manufacturing, Food & Beverage, Pharmaceuticals, Consumer Electronics, Building Automation); Competitive Landscape, Company Market Share Analysis, and Competitor Analysis; By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Company Market Share Analysis & Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology

Format

This report was recently updated on May 12 2024 with the latest and most recent market numbers

Proximity Sensor Market: Insights

The global proximity sensor market is estimated to be valued at USD 4115.7 million in 2021 and is projected to reach USD 5894.89 million by 2026 at a CAGR of 7.45%. The growing employment of such sensors in the automation sector is propelling the global market forward. An additional aspect driving the global market is the rising deployment of such sensors in consumer electronic devices, including tablets and smartphones. Such sensors can function in a variety of environments. They also have a fast-switching frequency and are quite accurate. These distinctive qualities are projected to increase demand for such sensors and propel the targeted market forward in a variety of industries, including aviation and defense, food and beverages, and others. Increased research & development initiatives for technologically improved devices are also predicted to help the target market development during the forecast period.

Market expansion is favored by the use of Artificial Intelligence (Al) technology, the Internet of Things (IoT), and cloud deployment of cloud-based solutions in the industrial sector, as well as the persistent advancement of the aerospace and military sector. Moreover, Nanotechnology is a key driver of the market's expansion. Nanotechnology investment is expected to surpass USD 125 billion by 2024, according to an ITU estimate. By automating industrial activities and boosting security and protection services, such sensors are changing the commercial potential of various sectors. With the advent of the Industrial Internet of Things (IIoT) in the production industry necessity for elements adept at capturing and transferring data about manufacturing operations has increased. This is one of the main considerations for increasing the proximity sensor market size.

Proximity sensor market share will be fueled by scientific improvements in the sensor sector as well as the pattern of miniaturization in the electronic industry. Such sensors will benefit from improvements in the semiconductor sector. Miniaturized circuits are progressively using embedded intelligent sensors. The market for such sensors will rise as wireless communication technologies improve, allowing for faster data delivery. The current important advances in these sensors are minimal size and quick signal computation. Nevertheless, variable raw resource pricing may limit the global market's expansion over the forecast period. Nonetheless, expanding the usage of such sensors in a variety of quickly booming areas can provide significant revenue for major companies in the target market.

global proximity sensor market

Proximity Sensor Market: By Technology

Depending on the technology, the market is categorized as inductive, capacitive, magnetic, photoelectric, and ultrasonic. Due to aspects including excellent resolution, high precision, expanding application domains, rapid switching frequency, usage in manufacturing lines, liquid level control tracking, robotics detection, vehicle recognition for automobile manufacturing, anti-collision identification, and the ability to perform consistently in severe environmental settings, the inductive category is foreseen to hold the largest share of the market. Moreover, the robotics sector is embracing inductive sensors since they allow for effective contactless assessments in navigation algorithms for mobility robots.

Proximity Sensor Market: By Product Type

Depending on the product type, the market is categorized into fixed and adjustable distances. Adjustable distance product type segment is presumed to dominate ascribed to the growing demand for such sensors with extended detecting ranges and huge sensing distances in many application domains. The adjustable sensor switch is compact, simple to operate, noise-resistant model, low-cost, simple to install, deployed on a robot to minimize obstructions, interactive multimedia industrial assembly lines, and a variety of other applications. It can detect both conductors and dielectrics. The casing of these sensors is composed of ABS, which is temperature resilient. It protects against reverse polarities and shocks by acting as a surge damper.

Proximity Sensor Market: By Application

Depending on the application, the market is categorized as aerospace & defense, automotive, industrial manufacturing, food & beverage, pharmaceuticals, consumer electronics, building automation. The automotive application segment is foreseen to predominate because there is a constant increase in capital investments in the establishment of numerous industries that employ such sensors. The popularity of such sensors in automotive settings is being driven by the touch-free user interface. Infotainment systems, biometric access systems, 3D gestures, and interior lighting management are some of the areas where these sensors can be employed in automobiles. Such sensors in the parking guidance unit can identify the existence of obstacles in the reversing vehicle's route and trigger an indicator to alert the driver. During parking, such sensors also avoid collisions with bystanders.

asia pacific proximity sensor market

Proximity Sensor Market: By Region

North America currently holds the largest revenue share of the global market. Due to variables, including an increased emphasis on industry automation, beneficial government assistance for such sensor adoption, a constant increase in capital investments in the establishment of numerous industries that employ such sensors, and the growing utilization of modern technologies in the automotive sector. The implementation of IIoT and Industry 4.0 in several countries is likely to boost the need for such sensors. The accelerated growth of industrial sectors that use digitalization methodologies to improve manufacturing and supply chain processes are a few additional growth catalysts.

Due to variables including the involvement of a massive quantity of such sensor suppliers & manufacturers, continual research and development for the deployment of sensors, skyrocketing advancement of automation in industrial sectors, and a compelling emphasis on technology acceptance, the Asia Pacific market is expected to grow at the fastest rate. A prominent element boosting the expansion of the target market in the area is the burgeoning automotive and consumer electronics production sectors, particularly in emerging nations like China and India.

Proximity Sensor Market Share and Competitor Analysis

Avago Technologies Inc., IFM Electronic GmbH, Schneider Electric, Panasonic Corporation, Balluff GmbH, Hans Turck GmbH & CO., KG., Pepperl + Fuchs GmbH, Rockwell Automation, Omron Corporation, Honeywell International Inc., Fargo Controls, and Sick AG, among others, are the key players in the market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Methodology

1.1 Market Scope & Definitions

1.2 Estimates & Forecast Calculation

1.3 Historical Data Overview and Validation

1.4 Data Sources

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 Proximity Sensor Industry Overview, 2019-2026

2.1.1 Industry Overview

2.1.2 Technology Overview

2.1.3 Application Overview

2.1.4 Product Type Overview

2.1.5 Regional Overview

Chapter 3 Proximity Sensor Market Trends

3.1 Market Segmentation

3.2 Industry Background, 2019-2026

3.3 Market Key Trends

3.3.1 Positive Trends

3.3.1.1 Rising Need for Automation in Manufacturing Industries

3.3.1.2 Expanding Technological Advancements and Digitization

3.3.2 Industry Challenges

3.3.2.1 Fluctuating Raw Material Prices

3.4 Prospective Growth Scenario

3.4.1 Technology Growth Scenario

3.4.2 Application Growth Scenario

3.4.3 Product Type Growth Scenario

3.5 COVID-19 Influence over Industry Growth

3.6 Porter’s Analysis

3.7 PESTEL Analysis

3.8 Value Chain & Supply Chain Analysis

3.9 Regulatory Framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 Technology Overview

3.11 Market Share Analysis, 2020

3.11.1 Company Positioning Overview, 2020

Chapter 4 Proximity Sensor Market, By Technology

4.1 Technology Outlook

4.2 Inductive

4.2.1 Market Size, By Region, 2019-2026 (USD Million)

4.3 Capacitive

4.3.1 Market Size, By Region, 2019-2026 (USD Million)

4.4 Magnetic

4.4.1 Market Size, By Region, 2019-2026 (USD Million)

4.5 Photoelectric

4.5.1 Market Size, By Region, 2019-2026 (USD Million)

4.6 Ultrasonic

4.6.1 Market Size, By Region, 2019-2026 (USD Million)

Chapter 5 Proximity Sensor Market, By Application

5.1 Application Outlook

5.2 Aerospace & Defense

5.2.1 Market Size, By Region, 2019-2026 (USD Million)

5.3 Automotive

5.3.1 Market Size, By Region, 2019-2026 (USD Million)

5.4 Industrial Manufacturing

5.4.1 Market Size, By Region, 2019-2026 (USD Million)

5.5 Food & Beverage

5.5.1 Market Size, By Region, 2019-2026 (USD Million)

5.6 Pharmaceuticals

5.6.1 Market Size, By Region, 2019-2026 (USD Million)

5.7 Consumer Electronics

5.7.1 Market Size, By Region, 2019-2026 (USD Million)

5.8 Building Automation

5.8.1 Market Size, By Region, 2019-2026 (USD Million)

Chapter 6 Proximity Sensor Market, by Product Type

6.1 Product Type Outlook

6.2 Fixed Distance

6.2.1 Market Size, By Region, 2019-2026 (USD Million)

6.3 Adjustable Distance

6.3.1 Market Size, By Region, 2019-2026 (USD Million)

Chapter 7 Proximity Sensor Market, By Region

7.1 Regional outlook

7.2 North America

7.2.1 Market Size, By Country 2019-2026 (USD Million)

7.2.2 Market Size, By Technology, 2019-2026 (USD Million)

7.2.3 Market Size, By Application, 2019-2026 (USD Million)

7.2.4 Market Size, By Product Type, 2019-2026 (USD Million)

7.2.5 U.S.

7.2.5.1 Market Size, By Technology, 2019-2026 (USD Million)

7.2.5.2 Market Size, By Application, 2019-2026 (USD Million)

7.2.5.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.2.6 Canada

7.2.6.1 Market Size, By Technology, 2019-2026 (USD Million)

7.2.6.2 Market Size, By Application, 2019-2026 (USD Million)

7.2.6.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.3 Europe

7.3.1 Market Size, By Country 2019-2026 (USD Million)

7.3.2 Market Size, By Technology, 2019-2026 (USD Million)

7.3.3 Market Size, By Application, 2019-2026 (USD Million)

7.3.4 Market Size, By Product Type, 2019-2026 (USD Million)

7.3.5 Germany

7.3.5.1 Market Size, By Technology, 2019-2026 (USD Million)

7.3.5.2 Market Size, By Application, 2019-2026 (USD Million)

7.3.5.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.3.6 UK

7.3.6.1 Market Size, By Technology, 2019-2026 (USD Million)

7.3.6.2 Market Size, By Application, 2019-2026 (USD Million)

7.3.6.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.3.7 France

7.3.7.1 Market Size, By Technology, 2019-2026 (USD Million)

7.3.7.2 Market Size, By Application, 2019-2026 (USD Million)

7.3.7.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.3.8 Italy

7.3.8.1 Market Size, By Technology, 2019-2026 (USD Million)

7.3.8.2 Market Size, By Application, 2019-2026 (USD Million)

7.3.8.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.3.9 Spain

7.3.9.1 Market Size, By Technology, 2019-2026 (USD Million)

7.3.9.2 Market Size, By Application, 2019-2026 (USD Million)

7.3.9.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.3.10 Russia

7.3.10.1 Market Size, By Technology, 2019-2026 (USD Million)

7.3.10.2 Market Size, By Application, 2019-2026 (USD Million)

7.3.10.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.4 Asia Pacific

7.4.1 Market Size, By Country,2019-2026 (USD Million)

7.4.2 Market Size, By Technology, 2019-2026 (USD Million)

7.4.3 Market Size, By Application, 2019-2026 (USD Million)

7.4.4 Market Size, By Product Type, 2019-2026 (USD Million)

7.4.5 China

7.4.5.1 Market Size, By Technology, 2019-2026 (USD Million)

7.4.5.2 Market Size, By Application, 2019-2026 (USD Million)

7.4.5.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.4.6 India

7.4.6.1 Market Size, By Technology, 2019-2026 (USD Million)

7.4.6.2 Market Size, By Application, 2019-2026 (USD Million)

7.4.6.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.4.7 Japan

7.4.7.1 Market Size, By Technology, 2019-2026 (USD Million)

7.4.7.2 Market Size, By Application, 2019-2026 (USD Million)

7.4.7.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.4.8 Australia

7.4.8.1 Market Size, By Technology, 2019-2026 (USD Million)

7.4.8.2 Market size, By Application, 2019-2026 (USD Million)

7.4.8.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.4.9 South Korea

7.4.9.1 Market Size, By Technology, 2019-2026 (USD Million)

7.4.9.2 Market Size, By Application, 2019-2026 (USD Million)

7.4.9.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.6.5 Latin America

7.5.1 Market Size, By Country 2019-2026 (USD Million)

7.5.2 Market Size, By Technology, 2019-2026 (USD Million)

7.5.3 Market Size, By Application, 2019-2026 (USD Million)

7.5.4 Market Size, By Product Type, 2019-2026 (USD Million)

7.5.5 Brazil

7.5.5.1 Market Size, By Technology, 2019-2026 (USD Million)

7.5.5.2 Market Size, By Application, 2019-2026 (USD Million)

7.5.5.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.5.6 Mexico

7.5.6.1 Market Size, By Technology, 2019-2026 (USD Million)

7.5.6.2 Market Size, By Application, 2019-2026 (USD Million)

7.5.6.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.5.7 Argentina

7.5.7.1 Market Size, By Technology, 2019-2026 (USD Million)

7.5.7.2 Market Size, By Application, 2019-2026 (USD Million)

7.5.7.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.6 MEA

7.6.1 Market Size, By Country 2019-2026 (USD Million)

7.6.2 Market Size, By Technology, 2019-2026 (USD Million)

7.6.3 Market Size, By Application, 2019-2026 (USD Million)

7.6.4 Market Size, By Product Type, 2019-2026 (USD Million)

7.6.5 Saudi Arabia

7.6.5.1 Market Size, By Technology, 2019-2026 (USD Million)

7.6.5.2 Market Size, By Application, 2019-2026 (USD Million)

7.6.5.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.6.6 UAE

7.6.6.1 Market Size, By Technology, 2019-2026 (USD Million)

7.6.6.2 Market Size, By Application, 2019-2026 (USD Million)

7.6.6.3 Market Size, By Product Type, 2019-2026 (USD Million)

7.6.7 South Africa

7.6.7.1 Market Size, By Technology, 2019-2026 (USD Million)

7.6.7.2 Market Size, By Application, 2019-2026 (USD Million)

7.6.7.3 Market Size, By Product Type, 2019-2026 (USD Million)

Chapter 8 Company Landscape

8.1 Competitive Analysis, 2020

8.2 Avago Technologies Inc.

8.2.1 Company Overview

8.2.2 Financial Analysis

8.2.3 Strategic Positioning

8.2.4 Info Graphic Analysis

8.3 IFM Electronic GmbH

8.3.1 Company Overview

8.3.2 Financial Analysis

8.3.3 Strategic Positioning

8.3.4 Info Graphic Analysis

8.4 Schneider Electric

8.4.1 Company Overview

8.4.2 Financial Analysis

8.4.3 Strategic Positioning

8.4.4 Info Graphic Analysis

8.5 Panasonic Corporation

8.5.1 Company Overview

8.5.2 Financial Analysis

8.5.3 Strategic Positioning

8.5.4 Info Graphic Analysis

8.6 Balluff GmbH

8.6.1 Company Overview

8.6.2 Financial Analysis

8.6.3 Strategic Positioning

8.6.4 Info Graphic Analysis

8.7 Hans Turck GmbH & CO. KG.

8.7.1 Company Overview

8.7.2 Financial Analysis

8.7.3 Strategic Positioning

8.7.4 Info Graphic Analysis

8.8 Pepperl + Fuchs GmbH

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Info Graphic Analysis

8.9 Rockwell Automation

8.9.1 Company Overview

8.9.2 Financial Analysis

8.9.3 Strategic Positioning

8.9.4 Info Graphic Analysis

8.10 Omron Corporation

8.10.1 Company Overview

8.10.2 Financial Analysis

8.10.3 Strategic Positioning

8.10.4 Info Graphic Analysis

8.11 Honeywell International Inc.

8.11.1 Company Overview

8.11.2 Financial Analysis

8.11.3 Strategic Positioning

8.11.4 Info Graphic Analysis

8.12 Fargo Controls

8.12.1 Company Overview

8.12.2 Financial Analysis

8.12.3 Strategic Positioning

8.12.4 Info Graphic Analysis

8.13 Sick AG

8.13.1 Company Overview

8.13.2 Financial Analysis

8.13.3 Strategic Positioning

8.13.4 Info Graphic Analysis

8.14 Other Companies

8.14.1 Company Overview

8.14.2 Financial Analysis

8.14.3 Strategic Positioning

8.14.4 Info Graphic Analysis

The Global Proximity Sensor Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Proximity Sensor Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global proximity sensor market?

The global proximity sensor market size is projected to grow from USD 4115.7 million in 2021 to USD 5894.89 million by 2026, at a CAGR of 7.45% during the forecast period.

Who are the major vendors in the proximity sensor market?

Key and innovative vendors in the proximity sensor market include Avago Technologies Inc., IFM Electronic GmbH, Schneider Electric, Panasonic Corporation, Balluff GmbH, Hans Turck GmbH & CO., KG., Pepperl + Fuchs GmbH, Rockwell Automation, Omron Corporation, Honeywell International Inc., Fargo Controls, and Sick AG.

Which region has the highest market share in the proximity sensor market?

North America is estimated to hold the highest market share in the proximity sensor market.

What is the Covid-19 impact on future proximity sensor manufacturers?

Globally, Covid-19 impact on the future proximity sensor market will be quite significant for the manufacturers. North America would be leading because of the increasingly extensive implementation of IIoT and Industry 4.0 in several countries. Subsequently, the Asia Pacific market will be growing the fastest because of the compelling emphasis on technology acceptance.

What are the major drivers in the proximity sensor market?

The major driving factors for the proximity sensor market include the growing employment of such sensors in the automation sector; soaring use of Artificial Intelligence (Al) technology, the Internet of Things (IoT), and cloud deployment of cloud-based solutions in the industrial sector; persistent advancement of the aerospace and military sector; supportive government initiatives to deploy such sensors in various sectors; expanding technological advancements and digitization.