DUBLIN--(BUSINESS WIRE)--The "Global Proximity Sensor Market - Segmented by Technology, End-User Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global proximity sensor market was valued at USD 4.35 billion in 2017 and is expected to reach a value of USD 6.52 billion by 2023 at a CAGR of 7.00% over the forecast period of 2018-2023.
The industrial automation segment has been emerging to be a relatively more attractive space for investment by organizations across the globe. The dependence on robots in the industrial controller mechanisms is an established trend, paving the way for larger and wider adoption of the industrial control and automation equipment.
Due to the increasing purchasing power of the millennial population, there is a continuous demand for passenger cars. According to OICA, the global passenger was estimated to be 72.10 million units in 2016 and the demand is expected to continue during the forecast period.
Inductive proximity sensors are used majorly in the industrial and automotive segments and are set to witness an increased growth rate as they are cheaper and efficient, for industries, like the automotive industry, to match the growing consumer demand. In the industrial segment, with harsh environmental resistance, robust nature, and extreme reliability, are expected to witness an increased adoption rate for many applications.
Companies Mentioned
- Avago Technologies (Broadcom Limited)
- Fargo Controls Inc.
- Honeywell International Inc.
- IFM Electronic GmbH
- Omron Corporation
- Panasonic Corporation
- Pepper + Fuchs GmbH
- Rockwell Automation Inc.
- Turck Inc.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Market Segmentation
6. Company Profiles
7. Investment Analysis
8. Future of the Market
9. Disclaimer
For more information about this report visit https://www.researchandmarkets.com/research/pz3xt2/global_proximity?w=4
