(MENAFN- EIN Presswire)
Asia-Pacific Proximity and Displacement Sensors market is Expected to Reach $1.8 Billion, by 2020
In a moderate scenario, the Asia-Pacific proximity and displacement sensor market will grow steadily, driven by existing applications in automobiles and manufacturing.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, October 28, 2024 /EINPresswire / -- Allied Market Research, titled,“Asia-Pacific Proximity and Displacement Sensor Market by Type, Application, and End User: Regional Opportunity Analysis and
industry Forecast, 2021–2030”, the Asia-Pacific proximity and displacement sensor market size was valued at $2.97 billion in 2020, and is projected to reach $7.96 billion by 2030, registering a CAGR of 10.5% from 2021 to 2030.
Download Research Report Sample & TOC:
The market for proximity and displacement sensors is experiencing gradual growth in Asia-Pacific. The report on the Asia-Pacific proximity and displacement sensors market states that the companies operating in the manufacturing of proximity and displacement sensors find the market highly complex and fragmented. The presence of a large number of regional players has created a perfect competitive environment.
The application of proximity and displacement sensors in the development of automation systems for manufacturing added significant value to the Asia-Pacific proximity and displacement sensors market share. The advancement of mobile devices in the form of smartphones and tablets generates ample demand for proximity sensors from mobile manufacturers. Presently, the application area of wireless proximity sensors in automobiles is limited to the extent of security and infotainment systems. However, the Asia-Pacific proximity and displacement sensors industry is poised to grow in the area of assisted functionality during the forecast period.
Technological advancement in defense sectors has largely facilitated the use of sensor-based technologies in applications such as anti-aircraft warfare systems. Rise trend of factory and process automation paired with an increase in awareness of rationalization for optimum energy consumption, surge in popularity of contactless sensing technology, and technological improvements in automotive security & infotainment systems are major driving factors for the proximity and displacement market. These factors are anticipated to drive the Asia-Pacific proximity and displacement sensors market size during the forecast period (2021-2030).
Get Customized Reports with you're Requirements:
Analysis of the market based on Porter's five-force model reveals that buyers in the market enjoy higher bargaining power compared to suppliers. The ability of buyers to switch to a new supplier cost-effectively reduces the bargaining power of suppliers. The market features a lower threat of forward and backward integration from suppliers and buyers respectively. This leaves moderate bargaining for the buyers in the market.
Asia-Pacific Proximity and Displacement Sensors Market Key Findings
- The inductive sensor segment is expected to generate the highest revenue during the forecast period.
- The manufacturing segment is expected to generate the highest revenue during the forecast period.
- The China segment is expected to register the highest revenue during the forecast period.
The key players profiled in the report include Canon Inc., Matterport, Lytro Inc., Fujifilms, GoPro Inc., Eastman Kodak Company, Nikon Corporation, Panasonic Corporation, Sony Corporation, and Faro Technologies. These key players have adopted several strategies, such as new product launch &development, acquisition, partnership &collaboration, and business expansion to strengthen their foothold in the Asia-Pacific proximity and displacement sensor market during the forecast period.
Inquiry before Buying:
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "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 author above.
MENAFN28102024003118003196ID1108823486
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.