CHICAGO, July 26, 2024 /PRNewswire/ -- The
proximity sensor market is projected to grow from
USD 4.3 billion in 2024 and is
estimated to reach USD 6.6 billion by
2030; it is expected to grow at a Compound Annual Growth Rate
(CAGR) of 7.5% from 2024 to 2030 according to a new report by
MarketsandMarkets™. The growth of the proximity sensor market
is driven by the expansion of proximity sensors into new
application areas such as medical devices, environmental
monitoring, and smart city initiatives, Integration of proximity
sensors with IoT and Al technology.
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Browse in-depth TOC on "Proximity Sensor
Market"
189 – Tables
73 – Figures
295 – Pages
Proximity Sensor Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 4.3
billion
|
Estimated Value by
2030
|
$ 6.6
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.5%
|
Market Size Available
for
|
2020–2030
|
Forecast
Period
|
2024–2030
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Technology, Product
Type, Range, Output, End-user Industry and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Addressing the need for
continuous technological upgrades
|
Key Market
Opportunities
|
Development of more
user-friendly and cost-effective models
|
Key Market
Drivers
|
Increasing adoption in
aerospace and automotive sectors
|
By technology, Ultrasonic technology is projected to grow at a high
CAGR of proximity sensor market during the forecast period.
Ultrasonic proximity sensors emit a sound pulse that bounces
back to the sensor from a target and generates an output signal.
These sensors can detect metallic and non-metallic, transparent or
opaque, liquid and solid objects offering effective enough acoustic
reflectivity. Compared to photoelectric sensors, they are little
affected by condensing moisture and hence apply in many
environments. Rockwell Automation, Hans Turck GmbH & Co. The
major companies operating in the market of ultrasonic proximity
sensors include KG, TIMES France, and Migration Corp. The demand
from the automotive sector has increased drastically due to the
rising installation of ADAS in vehicles. Ultrasonic proximity
sensors find high usage in improving vehicle safety and
convenience, such as parking assistance, blind spot detection, and
collision avoidance.
Adjustable distance segment in Product Type will account for
highest CAGR during the forecast period.
Adjustable distance proximity sensors are ultra-modern devices
designed to detect and measure the distance between the sensor and
an object with adjustable precision. These sensors shall be using
technologies like:
It gives accurate proximity sensing through ultrasonic,
infrared, and laser-based systems across many industries; it is a
sure deal in allowing automation, enhancing safety, and improving
efficiency in their diversity of applications. Those companies
located in Germany such as
Pepperl+Fuchs; Japan, Omron
Corporation; Germany, Sick AG; and
the US-based Rockwell Automation have developed adjustable distance
proximity sensors that detect metallic and non-metallic objects
within an adjustable sensing range. This feature enables its
application where sensing range might vary, like full or empty tank
detection. Proximity sensors with an adjustable distance option are
used more in comparison to fixed distance proximity sensors, which
detect only at a specified distance.
<10 mm proximity sensor in Range segment in proximity
sensor market will account for the highest CAGR during the forecast
period.
In applications that require a high degree of precision and
sensitivity, proximity sensors with a range below 10 mm become
essential. Detection of the presence or absence of objects at very
short distances makes the sensor quite suitable where minute
accuracy is required. Consumer electronics, medical devices, and
the automotive industry are the industries that need these sensors
immensely for the simple reason that they can function in
infinitesimal spaces, even tracing minute movements. Since the
invention of IoT devices, need-based requirements for compact and
efficient sensors in consumer electronics have increased manifold.
These short-range proximity sensors find places in wireless
earbuds, smart watches, and VR headsets for attachment/detachment
detection.
Analog Proximity Sensor in Output segment in proximity
sensor industry will account for largest market share
in the forecast timeline.
Compared with digital proximity sensors, analog ones also have
advantages in high-precision and continuous-monitoring
applications. Where digital sensors will give a binary output,
analog sensors give variable output, which changes linearly with
distance detection. This becomes very critical in tasks that
require fine-tuned control and accurate distance measurements, like
robotic arm positioning, conveyor belt speed regulation, or quality
control during manufacturing processes. It is in this way that
technologies of Industry 4.0, focusing on automation, connectivity,
and data exchange, increase the demand for such sensors at an
incredible rate.
Automotive in end-user industry segment in proximity sensor
market will account for the highest CAGR by 2030.
With rising demands for advanced safety and, more recently,
autonomous driving features, vehicle manufacturers across the globe
are seeking proximity sensors. For instance, in June 2023, Leuze introduced the HTU200 and DMU200
series of highly compact ultrasonic products with applications
oriented to the packaging and automobile industries. Such sensors
detect objects precisely and independently of their surface
quality: glossy and transparent surfaces and at distances between
0.1 and 6 meters. Large companies making automotive, like Tesla,
BMW, and Audi, increase the diffusion of the design of vehicles,
setting examples for others to follow. Proximity sensors will
probably play a more significant role in the industry's future when
technology develops, and vehicle sophistication increases.
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Asia Pacific will account
for the highest CAGR during the forecast period.
As industries aim to achieve efficient operations, thereby
reducing downtime and enhancing the quality of their products,
proximity sensors, which make all these advancements possible in
automation and safety protocols, will likely extend their demand
manifold in the near future. Countries like China and South
Korea account for the lion's share in the electronics
manufacturing world; hence, demands for proximity sensors in this
segment are strong. Proximity sensors are applied in electronic
assembly lines for component detection, checking correct placement,
and enhancing production efficiency. The growth of consumer
electronics market in Asia
Pacific, driven by demand from an increasing disposable
income and technological development, further fuels the demand for
these sensors. For instance, China
is the largest manufacturer of electronics globally, thus offering
significant regional demand for proximity sensors.
Key Players
Key companies operating in the proximity sensor
companies are OMRON Corporation (Japan), KEYENCE CORPORATION (Japan), Panasonic Corporation (Japan), SICK AG (Germany), STMicroelectronics (Switzerland), Rockwell Automation (US), Delta
Electronics, Inc. (Taiwan),
Honeywell International Inc. (US), Broadcom (US), Schneider
Electric (France), ZF
Friedrichshafen AG (Germany),
Balluff Automation India Pvt. Ltd. (India), Pepperl+Fuchs SE (Germany), Baumer (Switzerland), Banner Engineering Corp. (US),
among others.
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