The global proximity and displacement sensors market size is expected to reach over USD 12.43 billion by 2030, growing at an estimated CAGR of around 9.1% from 2024 to 2030. Technical advancement leading to miniaturization of proximity and displacement sensors is one of the key trends driving the global market towards growth.
Moreover, factory process automation, growing awareness towards energy efficiency and rising demand for elevators and escalators are some of the major factors driving the growth of the market. In addition, booming market for smart-phones, tablets and other gadgets is propelling the demand for the sensors globally. Considering all the above mentioned factors, the global market is anticipated to reach over USD 6 billion.
However, the implementation of integral automation system attracts a huge amount of initial investment, leading to rise in the overall cost to customers. Thus, high cost of the sensors is primarily challenging the growth of the global market.
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Moreover, factory process automation, growing awareness towards energy efficiency and rising demand for elevators and escalators are some of the major factors driving the growth of the market. In addition, booming market for smart-phones, tablets and other gadgets is propelling the demand for the sensors globally. Considering all the above mentioned factors, the global market is anticipated to reach over USD 6 billion.
However, the implementation of integral automation system attracts a huge amount of initial investment, leading to rise in the overall cost to customers. Thus, high cost of the sensors is primarily challenging the growth of the global market.
Proximity And Displacement Sensors Market Report Highlights
- LVDT sensors accounted for the largest market revenue share of 16.0% in 2023. The LVDT sensor excels in measuring linear displacement with high accuracy and performance, ideal for applications requiring precise positioning control.
- The automotive segment dominated the market and accounted for a share of 36.8% in 2023. The growing demand for touch-free sensing technology and the increasing adoption of sensor-based automotive security systems are driving market growth.
- North America dominated the global proximity and displacement sensors market in 2023 and was followed by Europe in 2023. Highly developed automotive, construction and food and beverage industry is one of the major factors driving the growth of the market in North America Europe.
- Asia Pacific proximity and displacement sensors market is anticipated to witness the fastest growth of 11.8% over the forecast period. The region’s position and proximity sensors market is driven by leading manufacturers, producing cutting-edge products combining GPS, cameras, and displays for smartphones and smart home devices. Resultant industry automation is driving the growth of the sensors market in this region.
The leading players in the Proximity and Displacement Sensors market include:
- Panasonic Corporation
- Schneider Electric SE
- Honeywell International Inc.
- Broadcom
- Eaton
- STMicroelectronics
- OMRON Corporation
- Rockwell Automation
- Balluff GmbH
- KEYENCE CORPORATION
- ifm electronic gmbh
- Hans Turck GmbH & Co. KG
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Proximity And Displacement Sensors Market Variables, Trends, & Scope
Chapter 4. Proximity And Displacement Sensors Market: Type Estimates & Trend Analysis
Chapter 5. Proximity And Displacement Sensors Market: Application Estimates & Trend Analysis
Chapter 6. Proximity And Displacement Sensors Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
The leading players in the Proximity and Displacement Sensors market include:- Panasonic Corporation
- Schneider Electric SE
- Honeywell International Inc.
- Broadcom
- Eaton
- STMicroelectronics
- OMRON Corporation
- Rockwell Automation
- Balluff GmbH
- KEYENCE CORPORATION
- ifm electronic gmbh
- Hans Turck GmbH & Co. KG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 6.82 Billion |
| Forecasted Market Value ( USD | $ 12.43 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
