The Proximity And Displacement Sensors Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Proximity And Displacement Sensors Global Market Report 2024, The proximity and displacement sensors market size is expected to see strong growth in the next few years. It will grow to $12.66 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to industrial automation growth, rise of IoT, urbanization and smart cities, digitization, increasing adoption of electric vehicles. Major trends in the forecast period include automotive industry advancements, technological advancements, advances in medical devices and equipment, advancements in wireless technologies, advancements in photolectric sensors, multi-sensor fusion.
The increase in the adoption of electric cars is expected to propel the growth of the proximity and displacement sensors market going forward. Electric cars are vehicles powered by electric motors using energy stored in rechargeable batteries rather than by internal combustion engines that burn fossil fuels. Proximity and displacement sensors enhance safety and efficiency by aiding in parking, collision avoidance, and optimizing battery usage through precise measurement of distances and object detection around the vehicle in electric cars. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization in the United States, global electric car sales exceeded 10 million in 2022, up 55% relative to 2021. Electric car sales are expected to reach around 65% of total car sales in 2030. Therefore, the increase in the adoption of electric cars is driving the growth of the proximity and displacement sensors market.
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The proximity and displacement sensors market covered in this report is segmented –
1) By Product: Fixed Distance, Variable Distance
2) By Technology: Inductive, Capacitive, Photoelectric, Magnetic, Other Technologies
3) By End User: Automotive, Healthcare, Manufacturing, Food And Beverage, Other End Users
Major companies operating in the proximity and displacement sensors market are developing new technologies, such as flight sense technology, to increase their profitability in the market. Flight sense technology refers to the use of time-of-flight (ToF) principles to accurately measure distances by calculating the time it takes for a light signal to travel to an object and back to the sensor. For instance, in July 2023, STMicroelectronics N.V., a Switzerland-based semiconductor manufacturing company, launched the FlightSense multi-zone distance sensor, a proximity and displacement sensor leveraging Time-of-Flight (ToF) technology, which is based on the speed of light, to measure the distance between the sensor and an object. It is capable of producing a 64-zone mini-depth map for distances between 1cm and 5 cm with a reach of up to 8 meters. This advanced sensor features multi-target detection, smudge resistance above 60cm, and low power consumption, offering precise measurements regardless of target characteristics. It's designed for seamless integration, providing a cost-effective solution with a compact footprint for various applications.
The proximity and displacement sensors market report table of contents includes:
- Executive Summary
- Proximity And Displacement Sensors Market Characteristics
- Proximity And Displacement Sensors Market Trends And Strategies
- Proximity And Displacement Sensors Market - Macro Economic Scenario
- Global Proximity And Displacement Sensors Market Size and Growth
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- Global Proximity And Displacement Sensors Market Competitive Benchmarking
- Global Proximity And Displacement Sensors Market Competitive Dashboard
- Key Mergers And Acquisitions In Proximity And Displacement Sensors Market
- Proximity And Displacement Sensors Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Panasonic Corporation
- Schneider Electric SE
- Honeywell International Inc
- Broadcom Inc
- Eaton Corporation PLC
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Global Proximity And Displacement Sensors Market Report 2025 is anticipated to attain USD 6 billion by the end 2025, according to a new report released by Million Insights.
The market is expected to grow at a CAGR of 9% from 2015 to 2022.
Emerging technologies such as miniaturization and contactless sensing are expected to drive the growth of proximity and displacement sensor market.
Moreover, rising adoption of automation across various industrial and manufacturing sectors is projected to proliferate the product demand over the forecast period.
Request free sample @ https://www.millioninsights.com/industry-reports/global-proximity-displacement-sensors-market/request-sample Market Synopsis of Proximity And Displacement Sensors Market: Rising concerns regarding energy efficient and affordable sensing coupled with growing construction sector is anticipated to propel the demand for sensing devices from 2015 to 2022.
Moreover, growing popularity of electronic devices such as tablets, smartphones, and play stations among the millennial population is projected to drive the market.
Proximity Sensors Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the proximity sensors market include GE, Honeywell International Inc., Panasonic Corporation, Fargo Controls, Omron, Riko Opto-electronics Technology Co. Ltd., Sick AG, ST Microelectronics NV, Delta Electronics Inc., Autonics Corporation, and Datalogic SpA.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Proximity Sensors Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/proximity-sensors-market/download-sampleMarket DynamicsThe heightened use of proximity sensors in parking lots, mobile phones, conveyor systems, and other industrial applications is the primary driver responsible for the market growth of proximity sensors.
Also, increasing usage of automation across various end-user industries such as manufacturing, power, and others will create a good opportunity for the market growth of proximity sensors.
Moreover, the surge in demand for non-contact sensing technology, industrial automation, high accuracy, increased repeatability, and small part detection are some of the factors fuelling the market growth of these sensors.
