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Proximity And Displacement Sensors Market - Forecast(2024 - 2030)
Proximity and Displacement Sensors Market Overview
Proximity and
Displacement Sensors market size was valued at $3.9 billion in 2020, and it is estimated to grow at a
CAGR of 8.1% during 2021-2026. The growth is mainly attributed to the increasing
adoption of IoT and automation technologies in industries. The growing trend
and increasing dependence on robots in industrial controller mechanisms have
been paving the way for wider adoption of the industrial control and process automation
systems and this is set to propel the displacement and proximity sensors
market. The rising demand for Photoelectric and ultrasonic sensors as well as linear
variable differential transformer sensors particularly in process automation systems
will drive the market growth.
Report Coverage
The report: “Proximity and Displacement Sensors Market
Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the
following segments of the Proximity and Displacement Sensors Market.
By Type: Inductive Sensors,
Photoelectric Sensors, Capacitive Sensors, Ultrasonic Sensors, Magnetic
Sensors, LVDT Sensors and Others.
By End User: Automotive,
Pharmaceutical, Food and Beverage, Pulp and Paper, Elevators and Escalators,
Manufacturing, Metals and Mining and others.
By Application: Parking
Sensor Systems, Ground Proximity Warning System, Vibration Monitoring and
Measurement, Anti-Aircraft Warfare, Roller Coasters, Conveyor Systems, Mobile
Devices, Assembly Line Testing. and Others.
By Geography: North
America (U.S., Canada and Mexico); Europe (U.K., Germany, Italy, France, Spain,
Russia, Netherlands, Rest of Europe); APAC (China, Japan, South Korea, India,
Australia, Indonesia, Malaysia Rest of APAC); South America (Brazil, Argentina,
Chile, Colombia, Rest of South America) RoW (Middle East & Africa).
Key Takeaways
- North America dominated the Proximity and Displacement Sensors market in terms of revenue in 2020 owing to the advancements in technology.
- Adoption of advanced technologies such as IoT, process automation systems in industries is poised to propel the market growth.
- Increasing adoption of Photoelectric and ultrasonic Proximity and Displacement Sensors in automotive sector with growing trend of autonomous vehicles is set to drive the market.
- High initial investment is the major challenge that hampers the market growth.
Proximity and Displacement Sensors Market, By Geography, 2020
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Proximity and Displacement Sensors Market Segment Analysis - By Type
Photoelectric
sensors held the major share of 26.8% in 2020. Photoelectric sensors are
capable of sensing distance, size, color, shape, presence and many other
attributes to the target object. The larger share is mainly attributed to the
wide application in various industries for applications such as parking,
monitoring and measurement, mobile devices, assembly testing as it is used to
sense all kinds of materials. Furthermore, low cost and longer sustainability
features drive the market. Furthermore, increase in investments on research and
development activities for the development of advanced sensors drive the market
in this region.
Proximity and Displacement Sensors Market Segment Analysis - By Industry Vertical
Automobile is
the fastest growing segment in proximity and displacement sensors market and estimated
to grow at a CAGR of 9.0% during forecast period 2020-2025. Rising demand for
contactless sensing technology coupled with increasing adoption of the sensor
integrated automotive security in automobiles is expected to drive the market.
In automotive sector, proximity sensors are used to detect the vehicle when it
is too close to an object for comfort.
With increase in development of
autonomous vehicles, there has been high adoption of proximity sensors and this
is set to push the market growth. In 2019, Omron Corporation had launched the
E2EW Series of full metal proximity Sensors, which have the world’s longest
sensing distances for automotive application. In 2020, Vishay had launched
automotive grade proximity sensors that prevent false triggers. Increase in
development of advanced sensors for automotive applications provide
opportunities for the market growth during forecast period 2021-2026.
Proximity and Displacement Sensors Market Segment Analysis - By Geography
North America dominated the Proximity
and Displacement Sensors market in 2020 with a market share of 32.4%, followed
by Europe and APAC owing to the presence of large number of players and early
adoption of advanced technologies. In addition to these, high adoption of process
automation systems in industrial and manufacturing sectors is set to drive the
market growth for proximity and ultrasonic proximity and displacement sensors.
Proximity and Displacement Sensors Market Drivers
Increasing adoption of automation technologies in industries
The rise in automation of complex production systems
has increased the demand for components capable of providing critical data
related to the production process. Photoelectric and ultrasonic Proximity and
displacement sensors facilitate process control in factories by detecting the
presence and position of metal objects. These sensors can also assist in
automating procedures and even repetitive tasks, resulting in an efficient
production line, thereby assist in driving the market.
Development of advanced proximity and displacement sensors
High accuracy, increased repeatability and small part
detection features have increased the demand for proximity and displacement
sensor market. Furthermore, increasing demand for contactless sensing
technology is set to uplift the market. Many companies have been focusing on
development of advanced sensors with the adoption of process automation system technology
in industries.
In 2020, Azbil had launched adjustable proximity sensor model
H3C, which boasts two outputs and increased efficiency by allowing operators to
check and configure settings from a computer. During the same year, Zebra
Technologies Corporation had launched a proximity sensing system which detects each
employee’s proximity to other workers and provides user-level alerting and
contact tracing to prevent the spread of covid-19. This kind of development
activities drive the market.
Proximity and Displacement Sensors Market Challenges
High initial investment
The high initial
investment for implementation of integrated systems is set to hamper the market
growth. Moreover, the requirement of skilled professionals for deployment of
the technology results in increased service cost to the customer. Thus,
increased cost of the technology hinders the market growth. Furthermore, demand
for smaller sensors leading to size and weight reduction being placed on
components and equipment is the major challenge for the market.
Proximity and Displacement Sensors Market Landscape
Technology launches, Acquisitions,
Collaboration, and R&D activities are key strategies adopted by players in
the Proximity and Displacement Sensors market. Proximity and Displacement
Sensors top 10 companies include Panasonic Corporation, SICK AG, Delta
Electronics Inc, STMicroelectronics, Riko Opto-Electronics Technology Co., Ltd,
Autonics Corporation, OMRON Corporation, Keyence Corporation, Pepperl + Fuchs
GmbH, Rockwell Automation, Inc and others.
Acquisitions/Technology Launches
- In March 2020, Sensor manufacturer, ams AG had launched a new in-display ambient light and proximity sensor solution for smartphones equipped with OLED displays. Development of advanced sensors provide opportunities for the market growth.
- In April 2019, The SICK Group, one of the world’s largest producers of sensors and sensor solutions for industrial process automation applications had partnered with software solution provider AutoCoding Systems (ACS). This partnership enables SICK to enhance the market share of the company.
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1. Proximity and Displacement Sensor Market Overview
1.1 Definitions and Scope
2. Proximity and Displacement Sensor Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By Application
2.3 Key trends segmented by Geography
3. Proximity and Displacement Sensor Market – Market Landscape
3.1 Comparative Analysis
3.1.1 Product/Company Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Proximity and Displacement Sensor Market – Industry Market Entry Scenario Premium (Premium)
4.1 Regulatory Scenario
4.2 Ease of Doing Business Index
4.3 Case Studies
4.4 Customer Analysis
5. Proximity and Displacement Sensor Market – Startup Company Scenario (Premium)
5.1 Venture Capital and Funding Scenario
5.2 Startup Company Analysis
6. Proximity and Displacement Sensor Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Proximity and Displacement Sensor Market – By Strategic Analysis (Market Size -$Million/Billion)
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle/Market Life Cycle Analysis
8. Proximity and Displacement Sensor Market – By Type (Market Size -$Million/Billion)
8.1 Inductive
8.2 Photoelectric
8.3 Ultrasonic
8.4 Capacitive
8.5 Magnetic
8.6 LVDT
8.7 Others
9. Proximity and Displacement Sensor Market – By End User (Market Size -$Million/Billion)
9.1 Automotive
9.2 Pharmaceutical
9.3 Food and Beverage
9.4 Pulp and Paper
9.5 Elevator and Escalators
9.6 Manufacturing
9.7 Metals and Mining
9.8 Others
10. Proximity and Displacement Sensor Market – By Application (Market Size -$Million/Billion)
10.1 Parking Sensor Systems
10.2 Ground Proximity Warning System
10.3Vibration Monitoring and Measurement
10.4 Anti-Aircraft Warfare
10.5 Roller Coasters
10.6 Conveyor Systems
10.7 Mobile Devices
10.8 Assembly Line Testing
10.9 Others
11. Proximity and Displacement Sensor Market - By Geography (Market Size -$Million/Billion)
11.1 North America
11.1.1 U.S
11.1.2 Canada
11.1.3 Mexico
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 UK
11.2.4 Italy
11.2.5 Spain
11.2.6 Russia
11.2.7 Netherlands
11.2.8 Others
11.3 APAC
11.3.1 China
11.3.2 Japan
11.3.3 South Korea
11.3.4 India
11.3.5 Australia
11.3.6 Indonesia
11.3.7 Malaysia
11.3.8 Others
11.4 South America
11.4.1 Brazil
11.4.2 Argentina
11.4.3 Chile
11.4.4 Colombia
11.4.5 Others
11.5 RoW
11.5.1 Middle East
11.5.2 Africa
12. Proximity and Displacement Sensor Market - Market Entropy
12.1 New product launches
12.2 M&A's, collaborations, JVs and partnerships
13. Proximity and Displacement Sensor Market – Industry Competitive Landscape (Premium)
13.1 Market Share – Global
13.2 Market Share by Region
13.3 Market Share By Application
14. Proximity and Displacement Sensor Market – Key Company List by Country Premium (Premium)
15. Proximity and Displacement Sensor Market - Company Analysis
15.1 Company 1
15.2 Company 2
15.3 Company 3
15.4 Company 4
15.5 Company 5
15.6 Company 6
15.7 Company 7
15.8 Company 8
15.9 Company 9
15.10 Company 10