New York, Oct. 25, 2022 (GLOBE NEWSWIRE) -- The global inductive proximity sensors market is estimated to reach US$ 5.5 Bn by 2032. The global inductive proximity sensors market is valued at US$ 2 Bn in 2022. The global inductive proximity sensors market is projected to surge at 10.6% CAGR over the decade.
PMR delivers key insights on the global inductive proximity sensors market in its report titled “Inductive Proximity Sensors Market: Global Industry Trend Analysis 2013 – 2017 and Forecast 2018 – 2026.” Value growth of the global inductive proximity sensors market is expected to remain attractive as the market is estimated to grow continuously with a CAGR of 9.4% in terms of value during the forecast period 2018 – 2026. On the basis of industry, inductive proximity sensors used to enable industrial automation are expected to register the most attractive growth during the forecast period. Based on type, inductive proximity sensors functioning with amplifier in cable are expected to gain the highest market share penetration during the forecast period.
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The usage of inductive proximity sensor technology was practiced by large industries over a decade ago. With improved technology and cost-effective solutions & services, inductive proximity sensor technology has been adopted by small- and medium-sized enterprises as well. Inductive proximity sensors are widely used by all tier companies to streamline operations, enhance industrial automation, and change the manufacturing landscape of the company. Thus, the usage of inductive proximity sensors in industrial automation is gaining importance in various industries. Growth in the global inductive proximity sensors market is driven by their increasing demand in the industrial automation applications sector. Increase in the number of vendors that enable industrial automation and growth in the demand for Industrial Internet of Things (IIoT) are important factors driving the inductive proximity sensors market.
Inductive proximity sensors are rarely affected by temperature fluctuations and foreign impurities such as dirt and water. The effects are negated by using multiple receiver coils to calculate the position and deduce their distance from the ratio of received signals. This reliability factor enables the end user to use inductive proximity sensors in harsh environments.
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Key Companies-
- SICK AG
- Panasonic Corporation
- Omron Corporation
- Datalogic S.p.A.
- Keyence Corporation
- Delta Electronics, Inc.
- Autonics Corporation
- Rockwell Automation GmbH
- Pepperl+Fuchs
- Riko Opto-electronics Co., Ltd.
- Others.
Inductive Proximity Sensors Market Industry Research Segmentation
By Type:
- Self-Contained
- Amplifier-in-Cable
- Separate Amplifier
By Industry:
- Consumer Electronics
- Industrial Automation
- Automotive
- Aerospace and Defense
- Pharmaceutical
- Packaging
- Others
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The inductive proximity sensors market has high potential in SEA and Other APAC owing to major technological advancements in consumer electronics and automotive markets. Thus, the inductive proximity sensors market in SEA and Others of APAC region will be targeted the most by inductive proximity sensors market participants. The need to enhance the productivity and efficiency of industrial processes is expected to attract the attention of inductive proximity sensor service providers toward the SEA and Other APAC region.
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