The global proximity and displacement sensor market size was valued at $5.89 billion in 2020, and is projected to reach $14.85 billion by 2030, registering a CAGR of 9.8% from 2021 to 2030.
The proximity and displacement sensors market consists of large number of suppliers providing various proximity and displacement sensors. The key players, such as Ifm Electronic GmbH, Kaman Corporation, Keyence Corporation, Omron Corporation, Balluff GmbH, and Eaton provide sensor products globally. Apart from big players, plenty of local players provide these products in their respective regions.
Expanding application along with shift toward automation of processes increases the demand for sensors in every industrial sector. Thus, allowing buyers to purchase products in higher volume. Buyers, such as manufacturing companies, automotive companies, and paper & pulp industries focus on procuring necessary sensors rather than developing the same in-house, thereby lowering the threat of their backward integration. The sensor suppliers focus on product differentiation strategies as well as enhancing product offerings.
In the automobile industry, manufacturers focus on developing smart infotainment and vehicle security system for cars. Proximity and displacement sensors are used for these purposes since decades. Application range for sensors in automobile increases with improved R&D efforts by automobile manufacturers. Presently, as a convenience and security measure, these sensors are used in intelligent parking systems and ground proximity warning systems.
The proximity and displacement sensor market is segmented into type, end user, and region. Depending on type, it is segregated into inductive, photoelectric, capacitive, magnetic, LVDT, and ultrasonic sensors. On the basis of end user, it is classified into automotive, pharmaceutical, pulp & paper, food & beverages, manufacturing, elevators & escalators, and metals & mining. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA along with its prominent countries.
The prominent players in the market are IFM Electronics GmbH, Kaman Corporation, Keyence Corporation, Lion Precision, Micron Optics, Inc., Omron Corporation, Panasonic Corporation, Pepperl+Fuchs, Standex-Meder Electronics Inc., and Turck Inc. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
The proximity and displacement sensors market consists of large number of suppliers providing various proximity and displacement sensors. The key players, such as Ifm Electronic GmbH, Kaman Corporation, Keyence Corporation, Omron Corporation, Balluff GmbH, and Eaton provide sensor products globally. Apart from big players, plenty of local players provide these products in their respective regions.
Expanding application along with shift toward automation of processes increases the demand for sensors in every industrial sector. Thus, allowing buyers to purchase products in higher volume. Buyers, such as manufacturing companies, automotive companies, and paper & pulp industries focus on procuring necessary sensors rather than developing the same in-house, thereby lowering the threat of their backward integration. The sensor suppliers focus on product differentiation strategies as well as enhancing product offerings.
In the automobile industry, manufacturers focus on developing smart infotainment and vehicle security system for cars. Proximity and displacement sensors are used for these purposes since decades. Application range for sensors in automobile increases with improved R&D efforts by automobile manufacturers. Presently, as a convenience and security measure, these sensors are used in intelligent parking systems and ground proximity warning systems.
The proximity and displacement sensor market is segmented into type, end user, and region. Depending on type, it is segregated into inductive, photoelectric, capacitive, magnetic, LVDT, and ultrasonic sensors. On the basis of end user, it is classified into automotive, pharmaceutical, pulp & paper, food & beverages, manufacturing, elevators & escalators, and metals & mining. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA along with its prominent countries.
The prominent players in the market are IFM Electronics GmbH, Kaman Corporation, Keyence Corporation, Lion Precision, Micron Optics, Inc., Omron Corporation, Panasonic Corporation, Pepperl+Fuchs, Standex-Meder Electronics Inc., and Turck Inc. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the proximity and displacement sensor market analysis from 2020 to 2030 to identify the prevailing proximity and displacement sensor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the proximity and displacement sensor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global proximity and displacement sensor market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Inductive Sensor
- Photoelectric Sensor
- Capacitive Sensor
- Ultrasonic Sensor
- Magnetic Sensor
- Lvdt Sensor
- Others
By End User
- Automotive
- Healthcare
- Manufacturing
- Food And Beverage
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Omron Corporation
- IFM Electronics GmbH
- Kaman Corporation
- Keyence Corporation
- Lion Precision
- Micron Optics Inc.
- Panasonic Corporation
- Pepperl+Fuchs
- Standex-Meder Electronics Inc.
- Turck Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PROXIMITY AND DISPLACEMENT SENSOR MARKET, BY TYPE
CHAPTER 5: PROXIMITY AND DISPLACEMENT SENSOR MARKET, BY END USER
CHAPTER 6: PROXIMITY AND DISPLACEMENT SENSOR MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Proximity and Displacement Sensors Market By Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030”, the proximity and displacement sensors market size was valued at $5.89 billion in 2020, and is estimated to reach $14.85 billion by 2030, growing at a CAGR of 9.8% from 2021 to 2030.The proximity and displacement sensors market size experiences gradual growth in Asia-Pacific. The report on proximity and displacement sensors market states that the companies operating in the manufacturing of proximity and displacement sensors find the market highly complex and fragmented in nature. Presence of large number of regional players create a perfect competitive environment.
Application of proximity and displacement sensors in the development of automation systems for manufacturing add significant value to the proximity and displacement sensors market share. Advancement of mobile devices in the form of smartphones and tablets generate ample demand for proximity sensors from mobile manufacturers. Presently, the application area of wireless proximity sensors in automobile is limited to the extent of security and infotainment systems. However, the market is poised to grow in the area of assisted functionality during the forecast period.
Technological advancement in the defense sectors have largely facilitated the use of sensor-based technologies in applications, such as anti-aircraft warfare systems. Rise in trend of factory and process automation, increase in awareness of rationalization for optimum energy consumption, surge in popularity of contactless sensing technology, and technological improvements in the automotive security & infotainment system are major factors that drive the growth of the proximity and displacement sensors industry.
Analysis of the market based on Porter’s five-force model reveals that buyers in the market enjoy higher bargaining power compared to suppliers. Ability of buyers to switch to a new supplier in a cost effective manner reduces the bargaining power of suppliers. The market features lower threat of forward and backward integration from suppliers and buyers respectively. This leaves a moderate bargaining for buyers in the market.
COVID-19 Impact Analysis
COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Major companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the region.
Demand from the IT & telecommunication segment is expected to increase, owing to factors such as rise in broadband usage, increase in demand for cloud services, and surge in video streaming. In addition, in the medium to long term, COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, Internet of Things (IoT), Artificial intelligence (AI), and intelligent edge computing for future optimization.
Some of the proximity and displacement sensor manufacturers witnessed temporary delays in production, increased costs, and revenue losses due to the pandemic.
The manufacturing sector witnessed severe loss, and thus, no new orders were placed during the pandemic. In addition, this impact was estimated to continue till 2021. Moreover, international consumer electronics and proximity and displacement sensor market trends are in a very weak state, owing to lockdowns imposed to tackle the pandemic. Although the markets in the U.S. and Europe witnessed mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, proximity and displacement sensors market growth faced major obstacles due to the emergence of COVID-19 pandemic.
Key findings of the Study
- By type, inductive sensor segment accounted for the highest revenue in 2020 at a CAGR of 6.3% during 2021 to 2030.
- By end user, manufacturing segment will dominate the proximity and displacement sensors market throughout the forecast period.
- Asia-Pacific region will contribute the highest market share with a notable CAGR of 10.5% during the forecast period.
Companies Mentioned
- Omron Corporation
- IFM Electronics GmbH
- Kaman Corporation
- Keyence Corporation
- Lion Precision
- Micron Optics Inc.
- Panasonic Corporation
- Pepperl+Fuchs
- Standex-Meder Electronics Inc.
- Turck Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 5.89 billion |
| Forecasted Market Value ( USD | $ 14.85 billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
