Proximity Sensors Market by Product, Application, and Geography - Forecast and Analysis 2020-2024

  • Published: Aug 2020
  • Pages: 120
  • SKU: IRTNTR44398
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The proximity sensors market size will record an incremental growth of USD 1.09 billion and a CAGR of almost 5% during 2020-2024.

This market report entails segmentations 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). View our sample report to gather market insights on the segmentations. 

The proximity sensors market report also 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., ON Semiconductor Corp., Panasonic Corp., Pepperl+Fuchs AG, Schneider Electric SE, and STMicroelectronics NV.

What will the Proximity Sensors Market Size be in 2020?

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Overview of Competitive Analysis

The proximity sensors market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies.

The market structure is fragmented. With the shift in consumer behavior owing to the COVID-19 pandemic, the vendors are focusing on leveraging upcoming trends and drivers that have been identified and explored in this proximity sensors market analysis report. Factors such as the increasing awareness of monitoring and safety systems in automobiles will offer immense growth opportunities to the vendors. The report also covers challenges and strategies to dodge them, which will help vendors in recreating their plan of action to obtain growth opportunities in the future.

To make the most of the opportunities, vendors should also capitalize on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Fetch actionable market insights on post-COVID-19 impact on each product and service segments.

Which are the Key Regional Markets for Proximity Sensors?

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The report offers an up-to-date analysis of the geographical composition of the market. North America had the largest market share in the proximity sensors market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing elevators and escalators market will significantly influence proximity sensors market growth in this region. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report

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 the region. This report provides estimations of the contribution of all regions to the growth of the proximity sensors market size.

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

  • CAGR of the proximity sensors marketduring the forecast period 
  • Detailed information on factors that will drive proximity sensors market growth during the next five years
  • Precise estimation of the proximity sensors 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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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
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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
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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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