Proximity Sensor Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Proximity Sensor market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Proximity Sensor Market report is anticipated to register a CAGR of 7% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Proximity Sensor Market are –
- Avago Technologies (Broadcom Limited)
- Fargo Controls Inc.
- Honeywell International
- IFM Electronic GmbH
- Omron Corporation
- Panasonic Corporation
- Pepper + Fuchs GmbH
- Rockwell Automation
The global proximity sensor market was valued at USD 4.35 billion in 2017 and is expected to reach a value of USD 6.52 billion by 2023 at a CAGR of 7.00% over the forecast period of 2020–2023. The scope of the report includes technology, like inductive, capacitive, photoelectric, magnetic and is limited to end-user industries, like aerospace & defense, industrial, automotive, and marine. While the region considered in the scope of the report include North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
The industrial automation segment has been emerging to be a relatively more attractive space for investment by organizations across the globe. The dependence on robots in the industrial controller mechanisms is an established trend, paving the way for larger and wider adoption of the industrial control and automation equipment. However, limitations in sensing capabilities and availability of other sensors at a lower cost might hinder the growth of the proximity sensor market.
Automotive Industry to have Highest Market Share
Due to the increasing purchasing power of the millennial population, there is a continuous demand for passenger cars. According to OICA, the global passenger was estimated to be 72.10 million units in 2016 and the demand is expected to continue during the forecast period.
For an average consumer, trucks are reliable options, as they have better fuel efficiency and safety features. These factors drive the growth of heavyweight vehicles. Premium vehicles and utilities continue to drive the sales of light vehicles, which cumulatively contribute to an increase in the demand for proximity sensors market during the forecast period.
Inductive Proximity has a Major Market Share
Inductive proximity sensors are used majorly in the industrial and automotive segments and are set to witness an increased growth rate as they are cheaper and efficient, for industries, like the automotive industry, to match the growing consumer demand. In the industrial segment, with harsh environmental resistance, robust nature, and extreme reliability, are expected to witness an increased adoption rate for many applications.
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Scope of the Report:
The report analyses Proximity Sensor market, which includes –
- Analysis of the growth of Proximity Sensor market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Proximity Sensor market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Proximity Sensor market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Proximity Sensor market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Proximity Sensor Market Report:
- Varying dynamics of the Proximity Sensor industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Proximity Sensor market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Proximity Sensor market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Proximity Sensor Market Report:
- The report analyses how stringent emission control norms will drive the global Proximity Sensor market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Proximity Sensor market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Proximity Sensor:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
Look into Table of Content of Proximity Sensor Market Report @ https://www.360marketupdates.com/TOC/12886029#TOC
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