Proximity and Displacement Sensor Market
Proximity and Displacement Sensor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Press Release :
Proximity and Displacement Sensor Market: Overview
Growing trend of process automation in manufacturing companies and boom in the electronic gadget market are major factors driving growth of proximity and displacement sensor market. Proximity and displacement sensors are widely integrated with tablets, smartphones, and play stations.
Further, declining price of the sensors is likely to push the proximity and displacement adoption rate exponentially.
In addition, rising popularity of contact less sensing application along with growing implementation in automobile for automotive security is expected to ramp up the proximity and displacement sensor market.
Meanwhile, growing awareness regarding energy consumption and cost-effective commercially available technologies are influencing the market.
On the other hand, high investment for deployment of integration systems in automobile industry initially is a restraining factor. Also, dearth of skilled professionals for implementation of the technology may limit growth of the global proximity and displacement sensor market.
The upcoming proximity and displacement sensor market analysis report provides insight about the upcoming trends and restraining factors likely to shape growth of the market during forecast period (2019-2029). The report also provides a comprehensive analysis of the key companies of the market and offers details about the capacities and competencies of these companies. The market report also focusses on the market’s competitive landscape and provides detail of the product portfolio of various companies.
Proximity and Displacement Sensor Market: Notable Developments
Rising demand for proximity and displacement sensors in the process automation systems and development of factory has resulted in rivalry in the global market. This is leading to competitive environment in the market.
Further, consistent development in tablet and smartphone market along with process automation in factories are emerging as major driving factor for the proximity & displacement sensors market.
Some of the key players operating in the proximity and displacement sensor market are-
- Panasonic Corporation
- Sharp Corporation
- OMRON Corporation
- Pepperl+Fuchs GmbH
- Eaton Corporation
- Honeywell International Inc.
- Standex Electronics GmbH
Proximity and Displacement Sensor Market: Key Trends
Recent discovery in commodity manufacturing industries including automotive industry is likely to fuel expansion rate of proximity and displacement sensors market. Further, growing investment inflow towards factory automation in order to reach zero defect production aim would push the demand rate in the market.
In addition, ongoing technological developments by key industry players for differentiation of product to regulate the price pressure challenges may propel demand rate in the proximity and displacement sensor market.
Inductive sensors are widely implemented for discrete automation purpose. Automotive Vending Machines, gaming machines, and Automated Teller Machines (ATM) among other self-services equipment are some of the key application areas, which are supplementing the growing demand for inductive sensors.
Apart from aforementioned application, photoelectric sensors are gaining wide customer traction with expanding application area in food and beverage, and automotive industry. Automotive industry is sprawling rapidly in developing countries. This, in turn, may propel the regional proximity and displacement sensors market.
Proximity and Displacement Sensor Market: Regional Analysis
In recent years, North America market has been witnessing technical advancements in manufacturing and industrial sectors. Growing adoption rate of automation technology has provided various opportunities for expansion of sensors market.
Lately, In North American, various manufacturing companies have been implementing automation for operation. This has resulted in rivalry from manufacturing companies who has adopted labor for operations due to availability of low cost labor.
As a result, various companies are shifting their manufacturing bases to cheap labor regions such as Indonesia, China, and Malaysia. In these regions, labor cost is comparatively cheaper than North America.
The shifting is likely to impact the automation utility sensor manufacturing industry negatively in North America.
Proximity and displacement sensors are used to detect the presence of nearby objects without touching them physically. These sensors are embedded in machineries for machine vibration monitoring. This helps in measurement of variation in the distance between the shaft and it support bearing. In addition, these sensors are also used in smart devices such as smartphones and tablets to detect accidental touch screen taps when held to the ear for calls. There sensors are in demand due to the increasing demand for automated machineries in various industries such as automotive, food and beverages and process industries among others. In addition, the price of these sensors are falling drastically which is acting as a driver of this market.
The global proximity and displacement sensors market is expected to witness significant growth during the forecast period. This is due to increasing demand for automation and the importance of feedback based production in all the industries. In addition, the growing awareness of safety in automobiles is also driving the market. Presently, the automotive industry holds the majority of the market and is expected to dominate the market during the forecast period. In addition, the introduction of unique safety features such as parking assist, automatic cruise control, side assist and lane assist in automobile is giving a boost to the use of proximity and displacement sensors market. Moreover, the use of these sensors in the process industries is also growing rapidly. Furthermore, the increasing concern for healthy living is increasing the demand of wearable technology which also uses proximity and displacement sensors.
Adoption of high end technologies and the concept of nanotechnology is also creating new opportunities for the proximity and displacement sensors manufacturers globally. However, the limitation in sensing capabilities is acting as a restraint for the market. Regionally, Asia Pacific has the highest penetration rate for proximity and displacement sensors due to the presence of developing nations like India and China.
This market research study analyzes the proximity and displacement sensors market on a global level, and provides estimates in terms of revenue (USD million) from 2014 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
The report segments the market on the basis of geography as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the product type, which include inductive sensors, photoelectric sensors, capacitive sensors, magnetic sensors, ultrasonic sensors, LVDT sensors and others. The proximity and displacement sensors are most widely used in automotive industries. It also segments the market on the basis of end user industries as automotive, food and beverages, process industries, pharmaceutical, industrial manufacturing and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD million).
For better understanding of the proximity and displacement sensors market, we have given a detailed analysis of the value chain. A detailed Porter’s five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company overview, financial overview, business strategies, and the recent developments in the field of proximity and displacement sensors. Major market participants profiled in this report include OMRON Corporation, Schneider Electric, Eaton Corporation Plc and IFM Electronics GmbH, among others.
Proximity and displacement Sensors Market: By geography
- North America
- Asia Pacific
- Rest of the World
Proximity and displacement sensors Market: By product type
- Inductive sensors
- Photoelectric sensors
- Capacitive sensors
- Magnetic sensors
- Ultrasonic sensors
- LVDT sensors
Proximity and displacement sensors Market: By Industries
- Food and Beverages
- Process Industries
- Industrial Manufacturing
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
- North America
- Asia Pacific (APAC)
- Rest of the World (RoW)