The market study covers the present scenario and growth prospects of the global proximity sensor market for 2017-2021. The report also lists automotive, industrial manufacturing, home, office, and building automation, and consumer electronics as the four major application segments, of which the automotive segment dominated the market in 2016 with a market share of close to 31%.
According to Jujhar Singh, a lead analyst at Technavio for sensors research, “The introduction of various initiatives related to passenger safety by governments worldwide is compelling automobile manufacturers to install advanced electronic devices in vehicles. The emergence of new technologies in the automotive industry, such as autonomous vehicles and intelligent vehicle technologies, is expected to further increase the use of proximity sensors in automobiles.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global proximity sensor market:
- Increasing awareness of monitoring and safety systems in automobiles
- Growing elevators and escalators market
- Vertical growth in global construction market
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Increasing awareness of monitoring and safety systems in automobiles
Proximity sensors are increasingly being used in different automobile parts, such as in front assist, rearview assist, and side assist monitoring systems. They are also used for gesture control for audio, navigation, HVAC, and smartphone connectivity functions.
The introduction of advanced monitoring and safety systems has led to the increased demand for proximity sensors. These systems use ultrasonic or electromagnetic proximity detectors to sense objects in the surrounding areas of the vehicle. Ongoing R&D on concept cars and self-driving cars by some of the major automakers, including Honda Motor, Hyundai Motor, Daimler, Volkswagen, Mercedes-Benz, Tesla, Nissan, and BMW, is expected to drive the global proximity sensor market. These cars have unique safety features that use proximity sensors.
Growing elevators and escalators market
Proximity sensors are important for the operation of elevators and escalators. These sensors help in accurate and speedy motion sensing applications. They have various output functions that guarantee optimal signals for economical high-speed performance. Several elevator and escalator functions, including cabin presence detection, speed monitoring, and cabin leveling, are carried out using proximity sensors. The increasing number of elevator and escalator installations will have a moderately high impact on building automation device manufacturers. The use of proximity sensors simplifies the automation process and enables elevators and escalators to function efficiently.
“The vertical growth in the global construction market, increase in public infrastructure development, and emergence of smart elevators are factors that will have a positive impact on the global elevator and escalator market. This, in turn, will drive the global proximity sensor market during the forecast period,” says Jujhar.
Vertical growth in global construction market
Proximity sensors are widely used in garage doors, elevator doors, parking doors, and smart automatic doors in towers and high-rise buildings. The growth of the global urban population is leading to problems, such as congestion, in urban cities. To cater to the needs of the growing urban population, construction companies and governments worldwide are focusing on optimum utilization of the available space within urban cities through vertical growth.
Vertical growth refers to the construction of low, mid, and high-rise buildings. These buildings help in optimum utilization of the available space to accommodate numerous individuals within a confined land space. Since 2016, more than 500 high-rise buildings have been under construction, and around 400 high-rise buildings are proposed to be constructed worldwide during the forecast period. These buildings will use proximity sensors to automate elevators and door systems, which is expected to drive the market growth.
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