This global market research report includes a detailed segmentation of the proximity sensor market by product (inductive, photoelectric, capacitive, magnetic, and others) and by end user (automotive, industrial manufacturing, consumer electronics, home and building automation, metals and mining, and others). It also outlines the market shares for regions such as the Americas, APAC, Europe, and ROW. The key vendors analyzed in this market analysis are GE, Honeywell, Panasonic, Fargo Controls, and Omron.
Technavio’s market research analysts estimate the global proximity sensor market, to grow at a CAGR of 7% between 2016 and 2020. Growing awareness of monitoring and safety systems in automobiles coupled with the increasing legislation on automotive safety are impelling the global market for proximity sensors during the forecast period. The Americas is the largest market for proximity sensor, owing to the presence of major automotive manufacturers, such as Chrysler, Ford, and General Motors, in this region.
The new market research report from Technavio provides a breakdown and analysis of the proximity sensor segments by technology.
“Owing to the growing demand for miniaturization of electronic devices, manufacturers have started integrating ALS and proximity sensors into a single module. Both are optical systems that utilize light-sensing LEDs. The integration of ALS and proximity sensors along with an LED lighting source has produced significant benefits, such as ease of implementation and faster time-to-market,” says Asif Ghani, Lead Analyst, Hardware & Semiconductor, Technavio Research
Benefits from integrated ALS and proximity sensor modules
Source: Technavio, 2016
Technavio’s market research analysts have estimated the photoelectric proximity sensors segment to account for more than 32% of the total market share by the end of 2020. The augmented utilization of these photoelectric sensors in passenger cars to measure the distance between cars in their proximity will result in this market segment’s steady growth during the forecast period.
The key players in the global proximity sensor market include GE, Honeywell, Panasonic, Fargo Controls, and Omron. This market is highly competitive because of the presence of many key vendors that hold significant market shares. These vendors compete on the basis of price, quality, reputation, and delivery capabilities to gain maximum market traction during the forecast period.
A more detailed analysis is available in the Technavio report, Global Proximity Sensor Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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