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Proximity Sensors Market by Product, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR44398
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The proximity sensors market share is expected to increase by USD 1.79 billion from 2021 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.29%.

This proximity sensors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (photoelectric, inductive, capacitive, magnetic, and ultrasonic), application (automotive, industrial manufacturing, consumer electronics, building automation, and others), and geography (North America, APAC, Europe, South America, and MEA). The proximity sensors market report also offers information on several market vendors, including Fargo Controls Inc., General Electric Co., Honeywell International Inc., NXP Semiconductors NV, OMRON Corp., Panasonic Corp., Pepperl+Fuchs SE, Schneider Electric SE, Semiconductor Components Industries, LLC, and STMicroelectronics NV. among others.

What will the Proximity Sensors Market Size be in 2021?

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Proximity Sensors Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing awareness of monitoring and safety systems in automobiles is notably driving the proximity sensors market growth, although factors such as limited product variation between different manufacturers may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the proximity sensors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The increasing awareness of monitoring and safety systems in automobiles will fuel the growth of the proximity sensors market size.
  • Proximity sensors are increasingly being used in different automobile parts, such as in front assist, rearview assist, and side assist monitoring systems. They are also used for gesture control for audio, navigation, HVAC, and smartphone connectivity functions.
  • The monitoring and safety systems use ultrasonic or electromagnetic proximity detectors to sense objects in the surrounding areas of the vehicle.
  • Ongoing R&D on concept cars and self-driving cars by some of the major automakers, including Honda Motor, Hyundai Motor, Daimler, Volkswagen, Mercedes-Benz, Tesla, Nissan, and BMW, is expected to drive the proximity sensors market. 
  • The growing demand for smart factories will drive the proximity sensors market growth during the forecast period.
  • Along with smart factories, robotic factories are gaining significance as some companies are opting for complete robotization in their factories.
  • Manufacturing countries, such as China and Germany, have started automating their existing manufacturing plants to stay ahead of the competition.
  • The automation of manufacturing processes enables better communication and precise coordination within firms.
  • The manufacturing industry uses proximity sensors for inspection and detection purposes, especially in areas where there is limited access to manual control.

This proximity sensors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Proximity Sensors Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Fargo Controls Inc.
  • General Electric Co.
  • Honeywell International Inc.
  • NXP Semiconductors NV
  • OMRON Corp.
  • Panasonic Corp.
  • Pepperl+Fuchs SE
  • Schneider Electric SE
  • Semiconductor Components Industries, LLC
  • STMicroelectronics NV.

 

This statistical study of the proximity sensors market encompasses successful business strategies deployed by the key vendors. The proximity sensors market is fragmented and the vendors are deploying growth strategies such as expanding their product line to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The proximity sensors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Proximity Sensors Market?

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37% of the market’s growth will originate from North America during the forecast period. The US is a key market for proximity sensors in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

The growth of the automotive and manufacturing sector will facilitate the proximity sensors market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Proximity Sensors Market?

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The proximity sensors market share growth by the photoelectric segment will be significant during the forecast period. One of the major applications of photoelectric proximity sensors is in the automotive industry. These sensors are used in automobiles, mainly passenger cars, to measure the distance between the car and other cars in proximity. The growing building automation market is expected to drive the demand for photoelectric proximity sensors in the future. This is because of their use in lift door mechanisms and security and safety devices. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the proximity sensors market size and actionable market insights on post COVID-19 impact on each segment.

 

Proximity Sensors Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.29%

Market growth 2021-2025

$ 1.79 billion

Market structure

Fragmented

YoY growth (%)

6.59

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 37%

Key consumer countries

US, China, Germany, Japan, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Fargo Controls Inc., General Electric Co., Honeywell International Inc., NXP Semiconductors NV, OMRON Corp., Panasonic Corp., Pepperl+Fuchs SE, Schneider Electric SE, Semiconductor Components Industries, LLC, and STMicroelectronics NV.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Proximity Sensors Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive proximity sensor market growth during the next five years
  • Precise estimation of the proximity sensor market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the proximity sensors industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of proximity sensors market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Photoelectric - Market size and forecast 2020-2025
    • Inductive - Market size and forecast 2020-2025
    • Capacitive - Market size and forecast 2020-2025
    • Magnetic - Market size and forecast 2020-2025
    • Ultrasonic - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Automotive - Market size and forecast 2020-2025
    • Industrial manufacturing - Market size and forecast 2020-2025
    • Consumer electronics - Market size and forecast 2020-2025
    • Building automation - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Fargo Controls Inc.
      • General Electric Co.
      • Honeywell International Inc.
      • NXP Semiconductors NV
      • OMRON Corp.
      • Panasonic Corp.
      • Pepperl+Fuchs SE
      • Schneider Electric SE
      • STMicroelectronics NV.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The proximity sensors market market growth will increase by $1.09 billion during 2019-2024.
      The proximity sensors market market is expected to grow at a CAGR of 4.93% during 2019-2024.
      Technavio has segmented the proximity sensors market market by product (Photoelectric, Inductive, Capacitive, Magnetic, and Ultrasonic) ,application (Automotive, Industrial manufacturing, Consumer electronics, Building automation, and Others) , and geographic (North America, APAC, Europe, South America, and MEA).
      Fargo Controls Inc., General Electric Co., Honeywell International Inc., NXP Semiconductors NV, OMRON Corp., ON Semiconductor Corp., Panasonic Corp., Pepperl+Fuchs AG, Schneider Electric SE, STMicroelectronics NV are a few of the key vendors in the proximity sensors market market.
      North America will register the highest growth rate of 36.94% among the other regions. Therefore, the proximity sensors market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • China
      • Germany
      • Japan
      • South Korea (Republic of Korea)
      The key factors driving the proximity sensors market market growth are:
      • Increasing awareness of monitoring and safety systems in automobiles
      The proximity sensors market market vendors should focus on grabbing business opportunities from the photoelectric segment as it accounted for the largest market share in the base year.
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