Global Proximity Sensors Market is expected to reach a value of USF 3.3Bn by 2023
Research on Global Markets has announced the addition of a market research report titled "Global Proximity Sensors Market (2018-2023)" to their offering. According to the report, the global proximity sensors market is projected to expand at a compound annual growth rate (CAGR) of 7.5% during the forecasted period will reach a value of USD 3.3Bn by 2023. The implementation of the proximity sensors has been transforming the business prospects of many industries by automating production operations and improving the safety and security solutions.
The research report published by Research on Global Market features a comprehensive analysis of the global proximity sensors market. It analyses the various segments of the proximity sensors market based on technology and end-use industry. The report contains a detailed report on the forecasted market size on each sector of the proximity sensor market and discusses the key observations of each sector.
With the growing technological advancements like the Industrial Internet of Things (IIoT) in the manufacturing sector and artificial intelligence, the proximity sensor market has been consistently expanding.
The report covers the technological insights of the global proximity sensor market. The photoelectric sensors segment of the proximity sensor industry has held the largest market share in 2018 as per the report published by Research on Global Markets. The momentous growth of the proximity sensor industry can be attributed to the introduction of 3D-mapping capabilities, 3D LiDAR technology which has several applications in fields like robotics, medical, automotive, and spacecraft systems.
Research on Global Markets track the performance of the Global Proximity Sensors Market across the key geographies of North America, Latin America, Europe, Asia-Pacific and the Middle-East and Africa. According to the Global Proximity Sensors Market published by the Research on Global Markets, Europe has been dominating the market with a share of 34.8% in 2018 since most of the key players in the industry are based in this region.
Research on Global Markets covers the performance of some of the major players in the industry like ST Microelectronics NV, Semtech Corporation, Rockwell Automation Inc., Panasonic Corporation, IFM Electronic GmbH, Sick AG, Pepperl + Fuchs GmbH, Schneider Electric SE, Broadcom Inc.
Business Benefits of the Report:
- The report covers the market scope and segmentation of the global proximity sensors market and also covers a market overview of the industry.
- It provides a detailed comprehensive analysis of the market segmentation based on technology (photoelectric sensors, capacitive sensors, inductive sensors, magnetic sensors, ultrasonic sensors) and based on end-use industry (consumer electronics, aerospace and defence, manufacturing, automotive, food and beverage, metals and mining and others)
- The report covers the global forecasted market revenue and also includes the market drivers and market trends to make it easier for the business to make decisions based on these highlights.
- It informs about the prospective competitors in the market gaining an edge and progressing rapidly through various technological advancement.
- The report also provides a detailed insight into the regional segmentation and the share and growth in those regions.
The report has been designed to help businesses get a concise idea regarding the growth of the proximity sensors market all over the world, develop business strategies, analyse the growth factors and the challenges in the market to enable them to identify the competition and take calculated risks that might be beneficial for the business.