Proximity and displacement sensors market: global outlook
24/09/2019
Premium Market Insights has published a new market research report titled: ‘Proximity and displacement sensors market – global industry analysis, size overview, trends, growth and forecast by 2013-2020.’The report is an expert-compiled study that provides a holistic view of the market covering current trends and future scope trends, a comprehensive study of demand and growth opportunities and outlook with segmentation by product/service type, application geography/region and top industry companies.
A proximity sensor is integrated into systems to detect the presence of an object of interest within the vicinity of the sensor. The function allows for non-contact detection, ensuring a high degree of reliability and durability of the sensor. A displacement sensor measures the displacement of the object of interest from one point to another. Currently, the market for proximity and displacement sensors is in a progressive phase in terms of its product lifecycle. Rapidly growing demand for these sensors in the development of factory and process automation systems has increased the rivalry in the proximity and displacement (P&D) sensor market, creating a healthy, competitive environment.
The rising trend of process automation in factories and the continuous growth of the smartphone and tablet market largely drive the P&D sensors market. In addition, the declining price trend is expected to drive the market exponentially. The growing popularity of contactless sensing applications and the interest of automobile manufacturers in the integration of sensor technology in automotive security and infotainment systems will eventually uplift the market for P&D sensors.
The basic types of proximity sensor are: inductive; photoelectric; capacitive; magnetic; linear variable differential transformer (LVDT); and ultrasonic sensors. With a multiplicity of applications, the inductive type is shown to have the highest market share (more than 30%) during the forecast period of 2014-2020.
The application industries studied in the report include: parking sensor systems; ground proximity warning systems; anti-aircraft warfare; roller coasters; conveyor systems; vibration monitoring systems; assembly line testing; and mobile devices, among others. Parking sensor systems hold the maximum revenue share presently, followed by conveyor systems and mobile devices.
P&D sensors, in accordance with the needs of end-users, are segmented into the following industries: automotive; pharmaceutical; pulp and paper; food and beverages; manufacturing; elevators and escalators; and metals and mining.
The automobile and manufacturing industries hold a higher market share with higher unit cost, along with a higher level of demand.
Geographically, the global market is segmented across the North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA) regions. In 2013, North America was the leading region in the P&D sensors market, followed by the Asia-Pacific region. Most of the original equipment manufacturers (OEMs) are concentrated in the North America and Asia-Pacific regions. This is a key reason for the substantial market share in these regions.
The prominent players in this market are ifm electronics GmbH, Kaman Corporation, Keyence Corporation, Lion Precision Inc, Micron Optics Inc, Omron Corporation, Panasonic Corporation, Pepperl+Fuchs, Standex-Meder Electronics Inc and Turck Inc. These key players are profiled in the report, with detailed information being given in terms of business overviews, product portfolios, financials, investments, news and recent developments.
To provide a better preview of the global sensors market, the report analyses key market trends, industry growth, driving and limiting factors and opportunities of the global proximity and displacement sensors market.
Global geography analysis helps in identifying key players in the market and the strategic moves they use to maintain their position within the global market.
Porter’s five forces model highlights the market threats and the competitive scenario that enables stakeholders in the market to devise appropriate strategies.
The analysis identifies potential prospects for players to expand their market presence and increase their market shares.
The research includes a micro-level analysis, based on sensor type, application, end-users and geographies, to provide a better understanding of the market.
