New York, April 19, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Reports Insights, the Capacitive Sensors market is poised for robust expansion and is anticipated to hit around US$ 41.05 Billion by 2030. The market, which was worth US$ 27.6 Billion in 2022, is expected to grow at a compound annual growth rate of 5.3% during the period 2023-2030. The report highlights factors such as the need for automation in industries, advancements in sensor technology, the demand for smart homes and buildings, stringent government regulations, and the growing demand for IoT that push the sales of capacitive sensors. Reports Insights conducted a study on the capacitive sensors market, which offers analysis on the competitive landscape, regional trends, market segmentation, and emerging technologies. The study aims to provide a comprehensive understanding of the market dynamics and factors driving its growth.
The growing demand for automotive safety features, such as collision avoidance systems and blind spot detection, is driving the capacitive sensors market. Capacitive sensors are used in these systems to detect the presence of objects and provide real-time feedback to the driver.
Capacitive sensors are expected to reduce the fatalities in manufacturing facilities by decreasing human interference between hazardous heavy industrial equipment. For instance, according to the National Safety Council, incorporating proximity sensors can help in reducing workplace fatalities caused by struck-by and caught-between injuries, which are among OSHA's top four leading causes of such incidents.
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Increasing adoption of capacitive sensors in automotive industry for applications such as touchscreens, parking assist, and tire pressure monitoring systems will push the sales of capacitive sensors. With the increasing demand for electric and autonomous vehicles, the demand for capacitive sensors in the automotive industry is expected to grow significantly. For instance, according to the World Economic Forum, the amount of electric passenger cars powered solely by batteries in the countries of the European Union reached 1.9 million in 2021, which represents a 76% increase from the previous year, when there were 1.1 million such electric vehicles in 2020.
Capacitive Sensors Market Growth Drivers:
- Growing investments in industrial automation applications such as robotics, material handling, and assembly fuels the demand for capacitive sensors in these applications for converting physical stimulus into readable output.
- Increased demand of automotive telematics in vehicles also boosts the demand for capacitive sensors such as proximity sensors, position sensors and motion sensors for electric vehicles and advanced driver assistance systems (ADAS).
- Rising demand for consumer electronics such as smartphones, tablets, and wearables also propels the demand for capacitive sensors as touchscreen input devices.
Restraints
- Capacitive sensors have a limited sensing range, which means that they can only detect objects that are in close proximity to the sensor. This limitation can make them unsuitable for applications that require long-distance sensing.
- Capacitive sensors are also affected by environmental factors such as humidity, dust, and moisture, which can impact their performance and reliability. This can limit their adoption in applications that require robust sensors.
Competitive Landscape
As per the research, the market is dominated by leading market players such as Texas Instruments, TE Connectivity Ltd., OMRON Corporation, Infineon Technologies AG, followed by Balluff Automation India Pvt. Ltd., STMicroelectronics International N.V., and Baumer Group. The capacitive sensors market is highly competitive, with such companies competing for market share. Capacitive sensors are used in a wide range of industries such as automotive, consumer electronics, healthcare, and industrial manufacturing. The market is expected to grow at a steady pace over the next few years, driven by the increasing demand for touch-based interfaces, automation, and the Internet of Things (IoT) devices.
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| Report Attributes | Report Details |
| Market Size By 2030 | USD 41.05 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 5.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Baumer Group, Texas Instruments, Balluff Automation India Pvt. Ltd., Carlo Gavazzi, Fargo Controls Inc., TE Connectivity Ltd., Hans Turck GmbH & Co. KG, OMRON Corporation, Infineon Technologies AG, STMicroelectronics International N.V., and others. |
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| By Mounting |
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| By Housing |
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| By Application |
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| By End Use Industry |
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| Report Coverage | Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Total Revenue Forecast, Business Strategies, and more. |
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The growing healthcare industry is also driving the capacitive sensors market. These sensors are used in medical devices to monitor vital signs, detect changes in patient condition, and provide real-time feedback to healthcare professionals. Such adoption of technology and advanced medical devices, especially in developing countries such as India, Brazil and Mexico will help population get access to improved healthcare. For instance, on March 3, 2023, the Government of India and the World Bank signed two loans worth USD 500 million each to improve and strengthen India's healthcare sector.
The market for wearable devices such as smartwatches and fitness trackers is expected to continue to grow in the coming years. Capacitive sensors are ideal for these devices because they are small, lightweight, and highly sensitive. As the demand for wearable devices grows, the demand for capacitive sensors is also expected to witness an increase.
The development of new materials and manufacturing processes is driving the growth of the capacitive sensors market. For instance, the usage of graphene, a highly conductive and flexible material, in capacitive sensors is expected to improve their sensitivity and accuracy. In addition, the usage of additive manufacturing techniques such as 3D printing is anticipated to reduce the cost of manufacturing capacitive sensors, making them more accessible to a wider range of industries.
Key Market Takeaways
- North America is anticipated to offer favorable circumstances for the market growth in terms of revenue due to large expenditures on adoption of advanced technologies in various end-use industries.
- The global capacitive sensors market size is anticipated to reach around USD 41.05 Billion by 2030 with an amazing CAGR of 5.3% during the forecast period (2023-2030).
- Based on type, the touch sensors segment held a dominant position in 2022 and is anticipated to maintain the lead during the forecast period.
- By mounting, the flush-mountable procedure accounted for the largest shares contribution to the market growth in 2022.
- Based on housing, the metal segment accounted for highest capacitive sensors market share in 2022.
- In the context of application, the installation/handling segment contributed the largest share to the market growth and is projected to maintain the lead over the coming years.
- Based on the end use industry, the consumer electronics industry segment accounted for the largest market share contribution to the market circumstances in 2022.
- Further, rising government initiatives along with increased foreign direct investments for technology integration in major manufacturing facilities is expected to support the market growth in the Asia Pacific region.
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Recent Developments
In February 2022, STMicroelectronics announced the release of two new high-side switches, the IPS2050H and the IPS2050H-32. These switches could efficiently drive capacitive loads with high startup current and provide the option to program two different current-limit values to cater to this need.
In February 2023, TE Connectivity partnered with Preddio Technologies to improve equipment monitoring and efficiency in multiple operations. This collaboration involves integrating Preddio's wireless technology and cloud-based analytics with TE's low-power sensors, offering businesses of all sizes the ability to proactively identify and prevent issues while optimizing their equipment performance.
List of Major Capacitive Sensors Market Players
- Baumer Group
- Texas Instruments
- Balluff Automation India Pvt. Ltd.
- Carlo Gavazzi
- Fargo Controls Inc.
- TE Connectivity Ltd.
- Hans Turck GmbH & Co. KG
- OMRON Corporation
- Infineon Technologies AG
- STMicroelectronics International N.V.
Global Capacitive Sensors Market Segmentation:
- By Type
- Touch Sensors
- Pressure Sensors
- Motion Sensors
- Others
- By Mounting
- Flush-Mountable Procedure
- Non-Flush Mounting Procedure
- By Housing
- Metal
- Plastic
- By Application
- Machine Tools
- Graphic Machinery
- Packaging Machinery
- Installation/Handling
- Medical Devices
- Laboratory Automation
- By End Use Industry
- Automotive Industry
- Food and Beverage Industry
- Pharmaceutical Industry
- Consumer Electronics Industry
- Other End Use Industries
Key Questions Covered in the Capacitive Sensors Market Report
- How big is the current market for capacitive sensors?
- What are the major latest trends in capacitive sensors market circumstances?
- What are current driving and restricting factors and what factors will create opportunities for the market growth in coming years?
- What future projections could be used to take further strategic steps in decision-making?
- What is the current level of competition in the capacitive sensors industry, and what are the main factors that are anticipated to impact this level of competitiveness?
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