Proximity And Displacement Sensors Market Analysis Report By Type, By Application, By End Use And Segment Forecasts From 2015 To 2022

Industry Insights

The global proximity and displacement sensors market size was accounted for USD 3 billion in 2014. It is estimated to grow at a CAGR of 9.5% throughout the forecast period (2015 - 2022). Various industries across the globe are witnessing a trend of automation which is anticipated to be the fundamental reason behind the market growth. Moreover, the growing popularity of electronic devices such as tablets, play stations, and smartphones is projected to boost the product demand over the forecast period.

Nowadays, contactless sensing technology is gaining popularity across the globe. Moreover, the technology of integrating proximity and displacement sensors in automobiles for security purposes is widely accepted across various automotive industries. This is expected to boost the demand for such sensors over the forecast period. In addition, energy efficiency and affordability of emerging technologies are the few major factors driving the market growth from 2015 to 2022.

Moreover, the increased cost of customer service owing to the requirement of highly skilled workers and high investment for integrating new technologies in automobiles is anticipated to hinder the market growth across developing regions such as Latin America and the Asia Pacific.

Type Insights

Based on type, the market for proximity and displacement sensors is segmented into capacitive sensors, magnetic sensors, inductive sensors, ultrasonic sensors, LVDT sensors, and photoelectric sensors. In 2014, the segment of photoelectric sensors held the largest revenue share of 38% of the overall market revenue. This segment has wide application across various industries. In addition, these sensors can sense distance, presence, color, shape, size, and other such properties of the desired object. These factors are projected to further drive the market growth from 2015 to 2022.

The segment of ultrasonic sensors is projected to attain the fastest growth at a CAGR of 21% from 2015 to 2025 owing to the emergence of various miniature technologies that are integrated with various devices. It is projected to attain more than USD 290 million by the end of 2022.

Application Insights

By application, the market is further divided into various segments such as ground proximity warning, parking, vibration monitoring and measurement, roller coasters, anti-aircraft warfare, conveyer system, assembly line testing, and mobile devices.

In 2014, the segment of parking sensors systems held the largest revenue share across the global proximity and displacement sensor market. It is expected to continue its dominance and grow significantly at a CAGR of 8.0% over the forecast period. It is expected to attain a revenue of more than USD 1.9 billion by the end of 2022. This growth is attributed to rising concerns regarding the safety of vehicles.

End-use Insights

Proximity and displacement sensors are adopted across various industries including paper & pulp, automotive, manufacturing, pharmaceuticals, elevators-escalators, metals & mining, and food & beverage industries. In 2014, the segment of automotive industries held the largest market share and it is expected to maintain its dominance over the forecast period owing to the requirement of such sensors in large volume. It is expected to grow at a CAGR of 10.0% accounting for the revenue of more than USD 1.9 billion by the end of 2022.

The segment of elevators and escalators is projected to grow at the fastest CAGR of 11.0% from 2015 to 2022. It is expected to attain a revenue of more than USD 760 million by the end of 2022. The growing construction sector and rising number of complexes and malls are expected to boost the product demand in the coming years.

Regional Insights

In 2014, North America held the largest market share across the global market owing to technological advancements in the manufacturing and industrial sectors. Rising automation across various industries has paved the demand for sensors over the forecast period.

As of now, many industries in North America are labor-intensive. However, modern manufacturers are more inclined towards automation, thereby, propelling the demand for proximity and displacement sensors. On a contrary, the majority of the manufacturers in North America are opening their manufacturing units in countries such as Indonesia, China, and Malaysia where the cost of labor is low to decrease their manufacturing costs.

Proximity And Displacement Sensors Market Share Insights

Leading players operating in this industry include OMRON Corporation, Eaton Corporation, Honeywell International Inc., Pepperl+Fuchs GmbH, Panasonic Corporation, Sharp Corporation, and Standex Electronics GmbH. These companies are concentrating on reducing the costs of manufacturing by opening their manufacturing units across different countries in the Asia Pacific.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2022. For this study, Million Insights has segmented the global proximity and displacement sensors market report based on type, application, end-use, and region:

• Proximity and Displacement Sensors Type Outlook
    • Inductive sensors
    • Photoelectric sensors
    • Capacitive sensors
    • Ultrasonic sensors
    • Magnetic Sensors
    • LVDT Sensors

• Proximity and Displacement Sensors Application Outlook
    • Parking sensor systems
    • Ground proximity warning system
    • Vibration monitoring and measurement
    • Anti-aircraft warfare
    • Roller coasters
    • Conveyor System
    • Mobile devices
    • Assembly line testing
    • Others

• Proximity and Displacement Sensors End-Use Outlook
    • Automotive industry
    • Pharmaceuticals industry
    • Food and beverage industry
    • Pulp and paper industry
    • Elevators and escalators industry
    • Manufacturing industry
    • Metals and mining industry

• Proximity and Displacement Sensors Regional Outlook
    • North America
    • Europe
    • the Asia Pacific
    • Rest of the World (RoW)