Market Study Report recently added a new title on 2020-2027 Global Proximity Sensor Market Report from its database. The report provides study with in-depth overview, describing about the Product, Size, Share, Industry Scope and elaborates market outlook and status to 2027.
Global Proximity Sensor Market size to reach USD 6.2 billion by 2027 and is valued approximately at USD 3.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.3% over the forecast period 2020-2027.
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A proximity sensor is capable of sensing the existence and disappearance of the target objects within its surrounding, devoid of any physical contact. It generally works at a frequency of 40 kiloHertz (kHz). These sensors usually employ a sonic transducer, which enables alternating transmission and reception of sound waves. This sonic transducer mainly emits a series of sonic waves that are reflected by an object, and subsequently, this sensor switches into receive mode. Once the reflected signal is received, the sensor signals output to a control device, such as a Programmable Logic Controller. Although the utility of proximity sensor gained a significant usage in numerous end-use industries, such as food automotive, and defense applications. In food and beverage industry, it generally used for object detection and distance measurement during the food processing and several packaging applications. Also, the use of these sensors permits high-efficiency packaging functions by positioning the products on a conveyer belt, identifying the shapes, and inspection their abilities.
Therefore, the increased use of proximity sensors in the packaging sector, along with the surging demand for accurate measurement in the food packaging are the few factors driving the demand for proximity sensors all over the world.
Major Proximity Sensor Market player included in this report are:
- Panasonic Corporation
- Riko Opto-electronics Technology Co. Ltd.
- Sick AG
- ST Microelectronics NV
- Delta Electronics Inc.
- Autonics Corporation
- Datalogic SpA
- Omron Corp.
- Rockwell Automation Inc.
- Honeywell International Inc.
According to Statista, the global packaged food industry has a total market value of USD 2.47 trillion in 2016 and is increased to almost USD 2.6 trillion by 2019. In addition, the total market value of the packaged food industry in the United States was USD 377.5 billion in 2017, an increase from USD 354.5 billion in 2013. Thus, the rise in demand for packaged food is expanding the utility of the proximity sensor all over the world. Additionally, rise in demand for non-contact sensing technology and the robust growth in industrial automation are the few other factors responsible for the high CAGR of the market during the forecast period. However, the limitation in sensing capabilities is one of the prime the few factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Proximity Sensor market size is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising government support to implement automated technologies, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing adoption of proximity sensor in automobile, along with increased concern on non-sensing technology across the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Proximity Sensor market in the Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By End-Use Industry:
- Aerospace and Defense
- Consumer Electronics
- Food and Beverage
- North America
- Asia Pacific
- Latin America
- Rest of the World
For More Details on Proximity Sensor Market Report at: https://www.marketstudyreport.com/reports/global-proximity-sensor-market-size-research?utm_source=Marketwatch.com/&utm_medium=SP
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