Westford,USA, July 18, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the proximity sensors market is supported by a diverse and complex value chain involving multiple players with distinct roles and contributions. Among the key actors in this value chain are component makers responsible for manufacturing the essential components and parts of proximity sensors. Their expertise in producing high-quality sensor elements forms the foundation for the product's functionality and reliability.
Browse in-depth TOC on the "Proximity Sensors Market"
- Pages - 265
- Tables - 68
- Figures – 75
Proximity sensors market growth serve various purposes across various industries, and one of the significant sectors that extensively utilize these sensors is the automotive industry. The automotive sector leverages proximity sensors for numerous applications, including keyless entry systems, enabling drivers to unlock and start their vehicles without the need for physical keys.
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Prominent Players in Proximity Sensors Market
- Omron Corporation
- Pepperl+Fuchs GmbH
- Sick AG
- Panasonic Corporation
- IFM Electronic GmbH
- Turck GmbH & Co. KG
- Balluff GmbH
- Honeywell International Inc.
- Rockwell Automation, Inc.
- Keyence Corporation
- Schneider Electric SE
- Fargo Controls, Inc.
- Eaton Corporation plc
- Contrinex AG
- Hans Turck GmbH & Co. KG
- Vishay Intertechnology, Inc.
- Avago Technologies (Broadcom Inc.)
- Baumer Holding AG
- Texas Instruments Inc.
- STMicroelectronics N.V.
Inductive Segment is Expected to Grow the Market Due to the Exceptional Capabilities of Inductive Proximity Sensors
The inductive segment holds the largest market share in the proximity sensors market, primarily driven by the exceptional capabilities of inductive proximity sensors. One of the key factors contributing to the popularity of inductive proximity sensors is their resilience to external factors such as temperature changes, dirt, and water.
The markets inNorth Americaare projected to hold a significant share of the global proximity sensors market. The region's expanding market can be attributed to the increasing demand for automation across various industries. Businesses in North America are increasingly adopting automation technologies to enhance productivity, improve operational efficiency, and reduce labor costs.
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Magnetic Segment is Expected to Dominate the Market Due to its Ability to Function in Harsh Environments
The magnetic sector of the global proximity sensors market is expected to witness significant growth, with the highestCAGR during the forecast period. Magnetic proximity sensors operate based on detecting permanent magnets or ferrous materials. They are widely used in various applications due to their robustness, precision, and ability to function in harsh environments.
Regional markets inthe Asia Pacific are poised to experience the fastest revenue increase in the proximity sensors market. The region's growth prospects are driven by several factors, with the expansion of the automotive and consumer electronics manufacturing industries being of paramount significance.
A comprehensive analysis of the major players in the proximity sensorsmarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Proximity Sensors Market
- Datalogic, a prominent player in the automatic data capture and factory automation industry, is set to showcase its innovative Visual Supply Chain Intelligence in 2022. In modern supply networks, traceability is paramount for efficient tracking and tracing. Datalogic's advanced technologies and solutions integrate barcodes, visual systems, artificial intelligence, and machine learning to generate genuine intelligence.
- STMicroelectronics introduced a new line of high-resolution Time-of-Flight (ToF) sensors, signalling a significant advancement in 3D depth mapping technology in 2022. These sensors are designed to equip smartphones and other devices with state-of-the-art capabilities for precise and accurate 3D depth mapping. STMicroelectronics' ToF sensors offer improved depth-sensing capabilities, allowing devices to capture and interpret the surrounding environment in 3D.
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Key Questions Answered in Proximity Sensors Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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