Proximity Sensors Market By Sensors Type (Ultrasonic, Capacitive, Photoelectric, Inductive, Magnetic), By Industry Vertical (Automotive, Home & Building Automation, Defense & Aerospace, Consumer Electronics, Manufacturing, Mining, Healthcare, Others), By Product Type (Fixed Distance, Adjustable Distance), By Sensing Range (0 mm to 40 mm, 41 mm to 100 mm, 101 mm to 1000 mm, 1001 mm to 2500 mm, 2501 mm and Above) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Technology Advancement among Industries to Ensure Positive Growth in the Proximity Sensors Market

The global proximity sensors market was valued at US$ 2,578.9 million in 2017 and is expected to grow at a CAGR of 6.2% from 2018 to 2026. With increased market penetration of smart devices such as smartphones and smart cameras, among others, the consumer electronics segment contributed the highest share to overall proximity sensor market growth. The proximity sensors market for consumer electronics accounted for more than 25% of the total market share in 2017. As the market for smartphones grows, the consumer electronics segment will continue to lead the global market for proximity sensors. Technology advancements in the automotive as well as mining, and aerospace sectors further contribute to the growth of the overall market for proximity sensors. In addition, increasing demand for long-distance sensing from the automotive industry to avoid collisions will ensure the growth of the proximity sensor market in the coming years. The mining industry, along with regulatory agencies, is increasingly adopting proximity detection and collision avoidance technology as a promising means to reduce crushing and pinning accidents between underground pieces of machinery.

Market Snapshot                                                

During the forecast period, the capacitive segment will lead the overall proximity sensor market.

The global proximity sensors market was dominated by the capacitive sensors segment in 2017, with the largest share. Increasing applications of these sensors among numerous industries, including automotive, consumer electronics, and manufacturing, will ensure the growth of capacitive proximity sensors in the coming years. With product features such as greater durability, superior sensitivity, and easy installation coupled with high accuracy features, the capacitive proximity sensors market is expected to continue dominating the global market.

North America dominates the proximity sensors market with the highest market share; Asia-Pacific is expected to emerge as the next promising market.

One of the major factors influencing the growth of the North American proximity sensors market is the rising demand for non-contact sensing technology from the automotive and consumer electronics industries. Growth in industrial automation is further pointed out as one of the major factors driving the overall market in this region. The U.S. is reported as the dominating country in the North American market, with the presence of leading players coupled with a growing consumer electronics market. Booming automotive, as well as healthcare industries were observed as some of the prime factors influencing U.S. proximity sensor market growth. In addition, with a significant increase in demand for proximity sensors across diverse industry applications in China, coupled with the growing adoption of automation in the manufacturing industry, Asia-Pacific is expected to emerge as the next promising market.

Competitive Insights

Leading players in the global proximity sensors market are striving to increase applications of proximity sensors among numerous industries, such as aircraft, automotive, manufacturing, and mining, among others. Manufacturers are focusing more on improving the performance of different industrial equipment through the utilization of proximity sensors. Leading players such as Omron Corporation are introducing next-generation proximity sensors to enable the world's longest-distance sensing. This advancement has improved the performance of automotive equipment by nearly 10% (approximately 1,600 hours per year). Market players are focusing more on replacing existing technologies with proximity sensors in different industry verticals. For instance, in June 2017, Semtech Corporation, one of the leading suppliers of analog as well as mixed-signal semiconductors, announced the launch of a smart sensing solution to enhance wireless connectivity by intelligently controlling the power of radio frequencies in connected devices such as tablets, wearables, and smartphones, among others. This all-new smart sensor solution is targeted specifically toward SAR (Specific Absorption Rate) proximity applications with a unique on-chip smart engine for human detection along with advanced SAR control.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments  

The proximity sensors market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global proximity sensors market based on sensor type, industry vertical, product type, sensing range, and geography.

Key segments covered in the report are as follows:

Analysis of the Proximity Sensors Market (2016-2026; US$ Mn) by Sensor Type

• Inductive
• Capacitive
• Ultrasonic
• Photoelectric
• Magnetic

According to our research report, capacitive proximity sensors dominate the overall market for proximity sensors. With increasing utilization in the automotive, healthcare, and defense sector, photoelectric proximity sensors are anticipated to witness significant growth during the forecast period from 2018 to 2026.

Proximity Sensors Market Segmentation by Industry Vertical and Analysis (2016-2026; US$ Mn)

• Automotive
• Home and Building Automation
• Defense and Aerospace
• Consumer Electronics
• Manufacturing
• Mining
• Healthcare
• Others (marine, food and beverage, etc.)

During 2017, the consumer electronics segment accounted for the highest share, considering the increased market penetration of smartphones, tablets, and other smart consumer gadgets. The rise in demand for advanced safety systems, combined with stringent driver safety regulations, has led the automotive industry to forecast significant growth in the near future.

Market Segmentation and Analysis of the Proximity Sensors Market (2016-2026; US$ Mn)

• Fixed Distance
• Adjustable Distance

With high utilization among different industry verticals coupled with increasing demand, fixed-distance proximity sensors accounted for the leading share in the global proximity sensors market in 2017.

Proximity Sensors Market Segmentation by Sensing Range and Analysis (2016-2026; US$ Mn)

• 0 mm to 40 mm
• 41 mm to 100 mm
• 101 mm to 1000 mm
• 1001 mm to 2500 mm
• 2501 mm and above

During 2017, considering the highest share of the consumer electronics segment in overall proximity sensor market growth, the 0 mm to 40 mm segment accounted for the leading share. Increasing demand for self-driving, along with increasing demand for long-distance sensing, has caused the 1001 mm to 2500 mm segment to witness growth during the forecast period from 2018 to 2026.

Analysis of the Proximity Sensors Market by Geography (2016-2026; US$ Mn)

• North America

• S.
• rest of North America

• Europe

• K.
• Germany
• France
• Rest of Europe

• Asia-Pacific (APAC)

• China
• Japan
• South Asia
• Rest of Asia Pacific

• Rest of the World (RoW)

• Middle East and Africa (MEA)
• Latin America 

In 2017, North America accounted for the highest market share with technology advancement in several industries, including automotive, manufacturing, and pharmaceutical, among others. Asia Pacific is expected to emerge as the next promising market for proximity sensors, with increasing demand for automated driving along with long-distance sensing.

Key questions are answered in this report.

• What was the market size of proximity sensors in 2017, and what is the forecast up to 2026?
• Which is the largest regional market for proximity sensors?
• What are the key market trends observed in the proximity sensors market?
• Which is the most promising sensor type in the proximity sensor market?
• Who are the key players leading the market?
• What are the key strategies adopted by the leading players in the market?
• What are the key factors driving the global market for proximity sensors?
• What are the market opportunities and threats faced by the market players in the global proximity sensors market?

This report's distinct data points

• Statistics on the adoption of proximity sensors in both sensor type and vertical industry segments per region
• The market size for proximity sensors has been calculated based on concrete parameters, including the distribution of proximity sensors among different industries worldwide.
• Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)

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