PORTLAND, Oregon, May 25, 2015 /PRNewswire/ --
A new report by Allied Market Research titled, "Global
Proximity & Displacement Sensors Market - Size, Share, Industry
Analysis, Trends, Opportunities, Growth and Forecast,
2013-2020", forecasts the global proximity & displacement
sensors market to reach $5.32 billion
by 2020, registering a CAGR of 8.7% during 2015 - 2020. Presently,
automotive industry is the largest end use segment with about
30%market share. North America is
leading region with large presence of technologically advanced
manufacturing companies, closely followed by the Asia Pacific. However, Asia Pacific is expected to overtake
North America by 2016 due to
strong demand from robust automotive and manufacturing industries
in Asian countries, especially in China and India.
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To request more information or free sample or purchase the
copy of the report, visit:
https://www.alliedmarketresearch.com/proximity-and-displacement-sensors-market
The growing emphasis of process automation in automotive,
manufacturing and food and beverages industries has facilitated the
demand of proximity and displacement sensors globally. Besides
this, the elevators and escalators, pulp and paper industries have
further amplified the demand. Recent recovery in automotive and
various commodity manufacturing industries has fuelled the growth
of this market. Especially, the ever-rising investments towards
factory automation to meet zero defect production goals would
intensify the demand in the market. The ongoing technology
advancements by industry players for product differentiation to
compensate the price pressure challenges would influence the
industry in terms of demand.
Inductive sensors are finding widespread applications for
discrete automation purposes. Some of the major applications that
supplement the rising demand for inductive sensors include various
self-service equipment from Automated Teller Machines (ATM),
Automotive Vending Machines to gaming machines. Besides this,
photoelectric sensors are widely sought sensors by the customers
with dominant applications in automotive and food & beverages
industry. The rapidly growing automotive industry, especially, in
context to the manufacturing hubs such as China and India, would ultimately boost the growth of
these sensors.
North America, with an
impressive presence of substantial manufacturing companies, is
currently leading the proximity and displacement sensors market,
globally. However, the on-going trend of shifting manufacturing
plants to low labour cost countries would largely boost the growth
of the proximity and displacement sensors industry in Asian
region.
Key findings of the study:
- The global market for proximity and displacement sensors would
exhibit significant growth, highlighting the importance of factory
automation and increasing workplace safety during the forecast
period (2014 - 2020)
- The elevators and escalators sector would grow at the fastest
CAGR of 10.6% during 2014 - 2020
- Automotive industry would continue to maintain its leading
position through 2020
- Asia Pacific region would take
over the North America proximity
and displacement sensors market by 2016
- Latin America, Middle East and Africa region would emerge as one of the most
lucrative markets, in terms of growth
Similar Market Research Reports by Allied Market
Research
Photonics Sensors Market - the global photonic sensor market is
forecast to reach $15.2 Billion by
2020, growing at a CAGR of 16.9% during the period (2014 - 2020).
The study confers the dominance of fibre optic sensors and sheds
light on the way; biophotonic sensor would garner more market share
during the forecast period. Based on its application, biophotonic
technology is expected to be the fastest growing technology in the
photonic sensor market. Military is expected to be the largest
revenue-generating segment till 2019, due to the wide-ranging
applications of photonic sensors in various defense equipment.
Geographically, North American region is leading and it would
maintain the lead throughout the forecast period.
https://www.alliedmarketresearch.com/photonics-sensor-market
Although proximity and displacement sensors market comprise of a
few global players, this market consists of various regional
players delivering standard solutions across different regions.
Players such as Omron Corporation, Keyence Corporation, ifm
electronic GmbH have a worldwide presence with a stronger product
portfolio. Along with these big players, many small players such as
Lion Precision, Pepperl+Fuchs deliver their products across
different parts of the world. Industry players are constantly
launching newer products with advanced features to improve their
market presence. For instance, ifm electronic GmbH, one of the
leading technologically advanced sensors manufacturer, has
introduced its new photoelectric sensor capable of detecting any
coloured object within a long range. The report covers a detailed
study of numerous players such as ifm electronic GmbH, Kaman
Corporation, Keyence Corporation, Lion Precision, Micron Optics,
Omron Corporation, Panasonic Corporation, Pepperl+Fuchs,
Standex-Meder Electronics and Turck, Inc.
About Us:
Allied Market Research (AMR) is a full-service market research
and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market
Research provides global enterprises as well as medium and small
businesses with unmatched quality of "Market Research Reports" and
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provide business insights and consulting to assist its clients to
make strategic business decisions and achieve sustainable growth in
their respective market domain.
We are in professional corporate relations with various
companies and this helps us in digging out market data that helps
us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Each and every data presented
in the reports published by us is extracted through primary
interviews with top officials from leading companies of domain
concerned. Our secondary data procurement methodology includes deep
online and offline research and discussion with knowledgeable
professionals and analysts in the industry.
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