Market Insights
The global proximity sensors market mainly is driven by growing demand from consumer electronics along with the automotive industry among others. Incessantly growing consumer electronics industry has set proximity sensors market to demonstrate a remarkable growth during the forecast period from 2018 to 2026. In 2017, the global consumer electronics industry accounted for US$ 301.31 Bn and expected to reach US$ 419.06 Bn by 2022, growing with high CAGR of 34.1%. Increased acceptance of recent sensor-based technologies such as 3D gesture systems, infotainment systems along advanced driver assistance systems and interior lights control systems in the automotive industry has ensured the growth of the proximity sensors market. Moreover, developing the automotive industry expected to witness significant progress in the overall proximity sensors market in the years to come.
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By sensors type, proximity sensors market segmented in ultrasonic, capacitive, photoelectric, inductive and magnetic sensors. Capacitive proximity sensors hold the ability to detect small-weighted, non-ferrous objects that cannot be picked up by mechanical limit switches. Capacitive proximity sensors further offer high accuracy along with a long operational lifespan. Considering distinct features of capacitive proximity sensors and increased adoption among numerous industries including automotive, manufacturing, consumer electronics among others, these sensors accounted for the highest share in the overall market for proximity sensors. Consistent technology improvement of capacitive proximity sensors expected to create growth opportunities for proximity sensors market in years to come. Optimized power consumption, low cost coupled with high-reliability features of capacitive proximity sensors further creating pull among different industry verticals. These sensors foreseen to sustain its position in the coming years with growing applications among the consumer electronics industry.
Proximity sensors market predicted to witness a rise in competition due to the emergence of new players holding significant share responsible for global market growth. To retain position in the global market, proximity sensors market players are focusing on business expansion through acquisition and association with large players. Prominent players in proximity sensors market are introducing advanced proximity sensors to address loopholes in existing IR-based proximity sensors technology for smartphones. This factor expected to create opportunities for the proximity sensors market during the forecast period from 2018 to 2026.
List of Companies Covered:
Market Segmentation:
By Sensors Type
By Industry Vertical Type
By Product Type
By Sensing Range Type
By Geography Segment Type
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