The Global Market for Proximity & Displacement Sensors is Projected to Reach US$3.9 Billion by 2020

Recovering Industrial Activity Drives the Global Market for Proximity & Displacement Sensors, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Proximity and Displacement Sensors. The global market for Proximity & Displacement Sensors is projected to reach US$3.9 billion by 2020, driven by the recovery in automobile manufacturing, and rapid proliferation of automation technologies in key industrial processing and manufacturing plants.

Proximity and displacement sensors find widespread applications in end-use sectors such as automobiles, electronics, manufacturing, and process industries. New expanding applications in aerospace, metals & mining, industrial equipment, automation systems and elevators & escalators, are helping spur growth in the market. Recovery in automobile manufacturing activity and growing focus of auto OEMs on integrating advanced safety and comfort features such as parking assist, collision mitigation and hands-free control systems, will especially boost demand for proximity and displacement sensors. Spiraling sales and production of smartphones will also drive significant gains in the proximity and displacement sensors market in the coming years.

Demand in the market will also benefit from the strong adoption of plant automation solutions in a bid to achieve enhanced process monitoring, optimum asset utilization, and production efficiency. The market also stands to benefit in the medium-term from technology developments focusing on reducing cost of sensors and increasing accuracy and durability. Miniaturized proximity and displacement sensors are forecast to grow in popularity, guided by benefits such as compact dimensions, higher processing speed and measurement accuracy. Non-contact inductive proximity sensors (IPSs), especially, have been witnessing an increasing trend towards miniaturization largely because of the growing demand for smaller electronic industrial machines. The face-down flip-chip configuration technology is widely adopted to reduce the size of these sensors.

As stated by the new market research report on Proximity and Displacement Sensors, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with sales projected to grow at a CAGR of 9.8% over the analysis period.  Growth in the region Asia-Pacific will primarily be driven by increase in manufacturing investments and productivity in developing Asian countries as a result of growth in Asia-to-Asia trade amid flattening trade with developed countries, newly emerging prosperity of South East Asian economies such as Indonesia and Philippines, and the continuing spread of consumer spending power across China, despite its economic vulnerabilities.             

Major players in the global marketplace include Balluff GMBH, Continental AG, Eaton Corporation, IFM Efector GMBH, Kaman Precision Products, Keyence Corporation, Lion Precision Inc., Maxim Integrated Products, Inc., Micro-Epsilon UK Ltd., Micron Optics, Inc., OMRON, Panasonic Corporation, Pepperl+Fuchs, Schneider Electric, SICK AG, Sharp Corporation, Standex-Meder Electronics Inc., and Turck Inc., among others.

The research report titled “Proximity and Displacement Sensors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.