Proximity Sensors Market Size, Share and Global Trend By Technology (Capacitive Radiation, Magnetic, Infrared), By Product (Fixed & Variable) Distance, By Industry Vertical (Aerospace & Defence, Automotive, Building Automation and others) and Regional Forecast, 2024-2032

The penetration of advanced automation technologies across semiconductor industry verticals will support the adoption of proximity sensors in fabrication facilities. According to semiconductor industry automation org (SIA), global semiconductor market has reached to market revenue of US$ 468.8 Bn in 2018. Proximity sensors comprise of all electronic sensors that can detect the presence or absence of objects using electromagnetic fields, light, and sound without making contact. Proximity sensors measure the displacement or movement of objects of interest from one point to another.     

The basic types of proximity sensors are photoelectric, inductive, magnetic, LVDT (Linear Variable Differential Transformer), capacitive and Ultrasonic Sensors. Technologies used in proximity sensors are capacitive radiation, magnetic, infrared (IR), and force sensor. Proximity sensors are capable of working in hazardous conditions such as extreme temperature, humidity, and chemical processing applications. Recent development in proximity sensors market include the rising trend of advance process automation system based on AI, and IoT technology might drift the proximity & displacement sensors market.

Adoption of Artificial Intelligence (AI) technology, IoT and cloud deployment of cloud-based solutions in the manufacturing sector, along with the ongoing development of the aerospace and defense industry is favoring market growth. Furthermore, Nanotechnology is an essential factor to drive the growth of proximity sensors market. According to a report published by ITU, the investment on Nanotechnology is projected to exceed US$ 125 Bn by 2024.

For example, in 2018, Hans Turck GmbH & Co. launched its new range of 8 mm barrel inductive proximity sensors based on Nano-technology. This technology embedded Nano ferrite core in sensors that results in increasing the sensing range by up to 50%. Proximity sensors have technical features such as IP67 vs. iP68 that makes them appropriate for use in places where water or oil is consumed.

 KEY PLAYERS COVERED

Some of the key players in proximity sensors market include Pepperl + Fuchs GmbH, Hans Turck GmbH & Co, Schneider Electric SE, Sick AG, Panasonic Corporation, Rockwell Automation Inc., Semtech Corporation, Vishay Semiconductors, ST Microelectronics NV, Qualcomm Technologies among others.

SEGMENTATION

REGIONAL ANALYSIS

Asia Pacific region is projected to hold a strong position in the global proximity sensors market, capturing maximum market share in the worldwide proximity sensors market in the forecasted period. This growth is due to massive investment by key players in technology and research training centers in developed countries such as Japan, South Korea. For instance, in 2018, Hans Turck GmbH & Co. officially opened its brand new research and training center in Korea with an aim to develop and innovate technologies used in proximity sensors. This initiation would boost the proximity sensors market in the Asia Pacific region in the forecasted period.