Proximity and Displacement Sensor Market : Granular View of The Market from Various End-Use Segments

Proximity and Displacement sensors are used to detect and measure the nearby objects without touching them physically. These sensors are extremely durable in adverse conditions such as high temperature and pressure; and therefore, find application in several areas such as automation, industrial manufacturing, and process industries.

In addition, rising need for automated manufacturing in industrial areas is acting as a driver for the market growth. Furthermore, the changing lifestyle is leading to the need for innovative products with artificial intelligence. The proximity and displacement sensors play an important role in smart devices to provide accurate results. Hence the growing demand for smart devices is further aiding to the growth of proximity and displacement sensors market.

The global proximity and displacement sensors market by sensor types is categorized into inductive sensors, photoelectric sensors, capacitive sensors, magnetic sensors, ultrasonic sensors, LVDT sensors and others. The photoelectric sensors had the highest market revenue share in 2014 and are expected to continue its dominance during the forecast period.

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The global proximity and displacement sensors market was valued at USD 2.93 billion in 2013, growing at a CAGR of 2.8% from 2014 to 2020. Proximity and displacement sensors are used for various applications such as monitoring the distance between objects, metal detection, and automobile safety functions among others.

In addition, these sensors find their application in several industries such as food and beverages, automotive, pharmaceutical and process industries among others. The proximity and displacement sensors find their application in every industry because of the importance of feedback based operations, which is fueling the growth of this market.

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Based on the end user industries, the proximity and displacement sensors market is segmented into automotive, food and beverages, process industries and pharmaceutical among others. Automotive industry has the highest market revenue share contributing more than 20% of the global market followed by food and beverages. Automotive industry has the largest application of these sensors because of the rising demand for safety in automobiles and automated machineries in factories. In addition, these sensors are resistant of chemicals and can withstand high temperature and pressure conditions. The process industries have been analyzed to be the fastest growing industry which uses proximity and displacement sensors.

The global proximity and displacement sensors market is segmented by regions into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). The growth of proximity and displacement sensors market is primarily driven by the increasing demand for automated functionalities in manufacturing industries such as food and beverages, pharmaceutical and process industries among others. In addition, the lowering cost of components required to manufacture these sensors have further contributed to the growth of proximity and displacement sensors market significantly.

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