Proximity Sensor Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Proximity Sensor Market Analysis
The Proximity Sensor Market was valued at USD 3790.5 million in 2020 and is expected to reach USD 5761.12 million by 2026 and grow at a CAGR of 7.3% over the forecast period (2021 - 2026). The proximity sensor can detect the presence of objects within its vicinity without any physical contact. For sensing objects, this sensor radiates or emits a beam of electromagnetic radiation, usually in the form of infrared light, and detects the reflection to determine the object's proximity or distance from the sensor.
- However, the shut down of manufacturing facilities in various countires like China, many parts of the world experinced shortage in supply of the component throughout February and March of 2020 owing to the global COVID-19 pandemic. Moreover, many companies started utilizing technology to contain the spread of the coronavirus and thus are developing various electronic devices.
- The growing industrial automation has been emerging to be a relatively more attractive space for investment by organizations across the world. The dependence on robots in industrial controller mechanisms is an established trend, paving the way for more extensive and wider adoption of the industrial control and automation equipment.
- The rise in automation of complex production systems has increased the demand for components capable of providing critical data related to the production process. These sensors facilitate process control in factories by detecting the presence and position of metal objects. Proximity sensors can also help in automating procedures and even repetitive tasks, resulting in an efficient production line.
- The technology complexity can be reduced to an extent with the implementation of non-contact sensing technology. This is the primary reason for the increasing demand for sensing components, like a proximity sensor.
- However, limitations in sensing capabilities and availability of other sensors at a lower cost may hinder the growth of the proximity sensor market.
Proximity Sensor Market Trends
This section covers the major market trends shaping the Proximity Sensor Market according to our research experts:
Automotive Industry is Expected to Hold the Largest Market Share
- The touch-free user interface is driving the adoption of proximity sensors in automotive applications. Applications, where these sensors can be used in automotive, include infotainment system, keyless entry system, 3D gesture, and interior lighting control. In the parking assistance system, these sensors can detect the presence of objects in the pathway of the reversing vehicle and can raise the alarm to warn the driver. Proximity sensors also prevent collision with pedestrians while parking.
- Due to the increasing purchasing power of the millennial population, there is a constant demand for passenger cars. Globally, the number of passengers crossed 86 million units mark in 2018, and the market is expected to follow the trend during the forecast period.
- For an average consumer, trucks are reliable options, as they have better fuel efficiency and safety features. These factors drive the growth of the heavyweight vehicle segment. Premium vehicles and utilities continue to drive the sales of light vehicles, which cumulatively contribute to an increase in the demand for inductive proximity sensors market during the forecast period.
North America to Witness a Significant Growth
- Increasing demand for automation and steady growth in capital investments in setting up various industries where proximity sensors are used are driving the growth of the market studied.
- Moreover, the United States is the largest smart parking market across the world, owing to the presence of various technology companies, government regulations, and financial support. Furthermore, the presence of heavy traffic in cities, such as New York and Los Angeles, and growing higher level of awareness toward modern solutions for traffic control and parking drive the growth of the US smart parking market.
- Moreover, the region has always been at the forefront, in terms of technology. Apple supplier AMS, has developed a light and infrared proximity sensor that can sit behind a smartphone’s screen, reducing the area required for such sensors and thus allowing for a larger display.
- The vast usage of smartphones in the region is further paving to the growth of the market. According to Consumer Technology Association and US Census bureau, in 2019, the smartphone sales in the United States accounted for USD 77.5 billion.
Proximity Sensor Industry Overview
The availability of several players providing proximity sensors has intensified the competition in the market. Therefore, the market is fragmented with many companies developing expansion strategies.
- Apr 2019 - SICK AG partnered with a software solution provider, AutoCoding Systems (ACS). This partnership may enable SICK to provide customers with a combined package of SICK's sensor technology and ACS's software platform.
- Jan 2019 - Sensor manufacturer, Ams launched a new in-display ambient light and proximity sensor solution for smartphones equipped with OLED displays, which essentially makes those modules invisible. The TCS3701 senses the light that passes through the display and using unique algorithms. The sensor can detect ambient light levels accurately without any information regarding the display pixel brightness above the sensor.
Proximity Sensor Market Leaders
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Panasonic Corporation
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Riko Opto-electronics Technology Co. Ltd
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SICK AG
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STMicroelectronics NV
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Delta Electronics Inc.
*Disclaimer: Major Players sorted in no particular order
Proximity Sensor Market News
- November 2020 - Rockwell automation acquired Fiix inc., a cloud software company for leading edge maintenance solutions. With the addition of the Fiix platform and expertise, the customers are expected to benefit from a 360-degree view of integrated data across automation, production, and maintenance, helping them to monitor and improve the performance of their assets and optimize how maintenance work is done.
- September 2019 - Panasonic formed strategic alliance with Samsonite to launch IoT-enabled smart luggage. The collaboration is aimed at enabling customers to tag and track their luggage. Samsonite's EVOA Tech will come with Panasonic's Seekit Bluetooth tracker.
Proximity Sensor Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Market Drivers
4.4.1 Increase in Demand for Non-contact Sensing Technology
4.4.2 Growth in Industrial Automation
4.5 Market Restraints
4.5.1 Limitations in Sensing Capabilities
4.6 Impact of Covid-19 on the Market
5. MARKET SEGMENTATION
5.1 By Technolgy
5.1.1 Inductive
5.1.2 Capacitive
5.1.3 Photoelectric
5.1.4 Magnetic
5.2 By End-user Industry
5.2.1 Aerospace and Defense
5.2.2 Automotive
5.2.3 Industrial
5.2.4 Consumer Electronics
5.2.5 Food and Beverage
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 South Korea
5.3.3.4 Rest of Asia Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Panasonic Corporation
6.1.2 Riko Opto-electronics Technology Co. Ltd.
6.1.3 SICK AG
6.1.4 ST Microelectronics NV
6.1.5 Delta Electronics Inc.
6.1.6 Autonics Corporation
6.1.7 Datalogic SpA
6.1.8 OMRON Corporation
6.1.9 Rockwell Automation Inc.
6.1.10 Pepperl+Fuchs GmbH
6.1.11 Keyence Corporation
6.1.12 Honeywell International Inc.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Proximity Sensor Industry Segmentation
A proximity sensor is a sensor that is able to detect the presence of nearby objects without any physical contact. A proximity sensor often emits an electromagnetic field or a beam of electromagnetic radiation (for instance, infrared) and detects changes in the field or return signal. The study considers only B2B facet of proximity sensors usage and not B2C.
Although the usage is not significant in some of the end-user industries, such as food industry, it is expected to be compensated by usage in automotive and defense applications. The non-contact sensing factor increased the number of applications of the sensors. The scope of the study for the proximity sensor market is limited to the type of technology principles of the sensors and their respective applications in a wide range of end-user industries, globally.
| By Technolgy | |
| Inductive | |
| Capacitive | |
| Photoelectric | |
| Magnetic |
| By End-user Industry | |
| Aerospace and Defense | |
| Automotive | |
| Industrial | |
| Consumer Electronics | |
| Food and Beverage | |
| Other End-user Industries |
| Geography | ||||||
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| Rest of the World |
Proximity Sensor Market Research FAQs
What is the current Proximity Sensor Market size?
The Proximity Sensor Market is projected to register a CAGR of 7.30% during the forecast period (2024-2029)
Who are the key players in Proximity Sensor Market?
Panasonic Corporation, Riko Opto-electronics Technology Co. Ltd, SICK AG, STMicroelectronics NV and Delta Electronics Inc. are the major companies operating in the Proximity Sensor Market.
Which is the fastest growing region in Proximity Sensor Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Proximity Sensor Market?
In 2024, the North America accounts for the largest market share in Proximity Sensor Market.
What years does this Proximity Sensor Market cover?
The report covers the Proximity Sensor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Proximity Sensor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Proximity Sensor Industry Report
Statistics for the 2024 Proximity Sensor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Proximity Sensor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
