Rising Influence of Automation to Paint Strokes of Growth across Proximity Sensors Market between 2019 and 2027: TMR

- Industrial automation has increased considerably and this aspect is expected to ring the bells of growth across the proximity sensors market

- A thorough analysis of all factors by TMR researchers leads to a conclusion that the proximity sensors market will expand at a CAGR of 5 percent during the tenure of 2019-2027

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Transparency Market Research

Feb 02, 2021, 05:30 ET

ALBANY, N.Y., Feb. 2, 2021 /PRNewswire/ -- The overwhelming demand for effective sensors is driving the growth of the proximity sensors market considerably. The growing trend of automation and non-contact sensing across a wide number of applications may bring tremendous growth opportunities across the proximity sensors market during the assessment period of 2019-2027.

A proximity sensor is a contactless sensor that helps in the detection of the presence of an object when a specific target is detected in the sensor's field. These sensors capture the required information into an electrical signal. Good quality materials are essential for making high-end proximity sensors. Thus, raw materials play a vital role in the development of proximity sensors.

After an all-round analysis of all the factors related to the growth of the proximity sensors market, the TMR researchers conclude that the global proximity sensors market is expected to expand at a CAGR of 5 percent across the forecast period of 2019-2027. The global proximity sensors market is expected to attain a value of US$ 3750 mn by the end of the forecast period.

The extensive influence of proximity sensors among a vast range of applications will add extra stars of growth to the proximity sensors market. The ongoing research and development activities are further helping in increasing the growth rate of the proximity sensors market. Industrial Internet-of-Things is also responsible for adding growth to the proximity sensors market.

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Proximity Sensors Market: Key Findings of the Report

Automotive Sector to Incur Maximum Growth

The rising demand for proximity sensors from the automotive sector is extrapolated to bring tremendous growth opportunities for the proximity sensors market between 2019 and 2027. The utilization of proximity sensors in various features of passenger vehicles such as keyless entry systems, interior lighting control, 3D gesture, and others may bring good growth opportunities for the proximity sensors market.

The sales of passenger cars have been increased substantially after the COVID-19 pandemic. Many people prefer private transport instead of public transport to avoid the transmission of the virus. Thus, this aspect will further improve the growth prospects across the proximity sensors market.

Analyze global proximity sensors market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Contactless Systems to Observe Escalating Demand Due to COVID-19 Pandemic

The heightening popularity of contactless systems has led to an increase in the demand for proximity sensors. The novel coronavirus spreads through touching common surfaces and hence, this factor will prove to be a major growth driver for the proximity sensors market.

In addition, industries are also embracing automation systems for avoiding frequent human contact. Hence, this factor will influence the growth of the proximity sensors market to a great extent.

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Proximity Sensors Market: Growth Propellers

The heightening demand for non-contact sensing technology may prove to be a prominent growth accelerator for the proximity sensors market
The overwhelming demand from the automotive industry will further enhance the growth rate of the proximity sensors market
Smartphones are also using proximity sensors on a large scale and this factor will bring immense growth opportunities for the proximity sensors market

Explore 160 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Proximity Sensors Market (Technology - Single Capacitive, Magnetic, Infrared (IR), and Force Sensor; Product Type - Fixed Distance and Adjustable Distance; Chip Type - Single Chip (Single Channel and Multi-Channel) and Multi-Chip; Industry Vertical - Aerospace & Defense, Automotive, Building Automation, Consumer Electronics (Smartphones and Tablets), Food & Beverage, Industrial and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/proximity-sensors-market.html

Proximity Sensors Market: Regional Landscape

On the basis of geographical contribution, Asia Pacific is estimated to grab a large share of the proximity sensors market between 2019 and 2027. Emerging economies such as China and India are inviting profitable growth due to expanding industrialization prospects. Other regions are prognosticated to observe stable growth.

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