(MENAFN- GlobeNewsWire - Nasdaq) Delray Beach, FL, Oct. 17, 2024 (GLOBE NEWSWIRE) -- The proximity sensor market size was valued at USD 4.3 billion in 2024 and is likely to reach USD 6.6 billion by 2030 at a CAGR of 7.5% during the forecast period.
Crucial drivers for the proximity sensor market are the application of proximity sensors in smart logistics and supply chain management systems, increasing infection control measures within the healthcare sector, and growing emphasis on smart infrastructure and building automation. One of the major applications of proximity sensors in industry 4.0 is predictive maintenance and machine monitoring. In this regard, inductive proximity sensors measure distance variation between a shaft and its support bearing, which constitutes vital information needed for vibration monitoring of machines.
To know about the assumptions considered for the study
Download the PDF Brochure
Major Proximity Sensor Companies Include:
OMRON Corporation (Japan), KEYENCE CORPORATION (Japan), Panasonic Corporation (Japan), SICK AG (Germany), STMicroelectronics (Switzerland), Rockwell Automation (US), Delta Electronics, Inc. (Taiwan), Honeywell International Inc. (US), Broadcom (US), Schneider Electric (France), ZF Friedrichshafen AG (Germany) and many more
Proximity Sensor Market Segmentation:
Inductive proximity sensor to hold the largest market share in the Technology segment in the proximity sensor market during the forecast period.
Inductive sensors are used for safety applications, such as detecting metallic objects in hazardous areas, preventing accidents, and ensuring the safety of the workers. The major companies offering inductive proximity sensors are OMRON Corporation, KEYENCE CORPORATION, Panasonic Corporation, SICK AG, Rockwell Automation, Balluff Automation India Pvt. Ltd., and Pepperl+Fuchs SE. Increasing industrial automation demands fuel demand for inductive proximity sensors. IFR has announced that according to the latest World Robotics report, 553,052 new industrial robots were installed in factories worldwide.
<10 mm segment to hold the largest market share in the Range segment in the proximity sensor market during the forecast period.
This means that proximity sensors are intrinsic parts of modern automotive systems; however, significant applications include keyless entry and interior object detection. Companies like Tesla, BMW, and Mercedes-Benz apply the sensors, giving way to auto-unlocking and engine start in the presence of a critical fob sensed at a close range. For example, Tesla has used capacitive proximity sensors in the Model S for keyless entry and ignition to maximize convenience and safety. Equally, thanks to the capacitive proximity sensors in use, BMW's Comfort Access system helps users to unlock and fire up their vehicle without removing the key fob from their pocket or purse. The addition of sophisticated features impels the automotive proximity sensors market, as these sensors are highly required to improve vehicle functionality and user experience.
The proximity sensor industry in the Asia Pacific is estimated to grow at a higher CAGR during the forecast period.
The Asia Pacific region will likely register the largest CAGR in the proximity sensor industry from 2024 to 2030. Proximity sensors are in demand in China because of the aggressive adoption of Industry 4.0, which has broken all conventional boundaries of automation and control principles in process and manufacturing industries. The "China Manufacturing 2025" initiative espouses China's commitment to changing its manufacturing sector into a global leader that is powerfully innovative and efficient.
Top Proximity Sensor Companies
OMRON CORPORATION:
OMRON Corporation is an international frontrunner in the automation domain, considering the substantial number of products and services offered for industries. The group is present in more than 130 countries with innovation-driven solutions in the five primary business domains: Industrial Automation, Healthcare, Social Systems Solutions & Services, Devices & Module Solutions, and Data Solutions. It will develop new automation technologies integrated with core "Sensing & Control technologies and advanced data analytics, incorporating human intelligence, termed "Sensing & Control + Think." The various products for which OMRON Corporation has expertise include fiber, photo micro, ultrasonic, pressure, flow, contact, liquid leakage, condition monitoring, and proximity.
KEYENCE CORPORATION:
KEYENCE CORPORATION is the leading global supplier of factory automation products. It provides innovative and reliable products for various applications in several manufacturing industries. The company has become one of the top leaders in designing and manufacturing industrial automation and inspection equipment. The list of products includes sensors, measuring systems, laser markers, microscopes, machine vision systems, static eliminators, and code readers.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
CONTACT: About MarketsandMarketsTM
MarketsandMarketsTM has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarketsTM is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoreTM (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit TM.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
UK +44-800-368-9399
Email: ...
Visit Our Website:
MENAFN17102024004107003653ID1108789513
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.