DUBLIN--(BUSINESS WIRE)--The "Capacitive Proximity Sensor Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The capacitive proximity sensor market was valued at USD 0.85 billion in 2018 and is expected to reach a value of USD 1.29 billion by end of 2024, registering a CAGR of 7.21% during the forecast period (2019 - 2024).
- Capacitive proximity sensing technology is witnessing swift developments, to meet the advanced user interface requirements of modern applications. The increasing preference for capacitive sensors, due to their greater durability, superior sensitivity and higher measurement accuracy than resistive or inductive sensors are one of the primary factor driving the growth of the market studied.
- The rise in automation of complex production systems has increased the demand for components capable of providing critical data related to the production process. These sensors facilitate process control in factories by detecting the presence and position of metal objects. Proximity sensors can also help in automating procedures and even repetitive tasks resulting in an efficient production line.
- Food and Beverages use the capacitive proximity sensor to know behind the opaque surface which could be a cover, any kind of storage container, packaging, etc., These sensors are ideal for level and feed monitoring which could be anything like paper, wood, or any liquid form. They can still detect the status of the product still in the production stage until the final inspection.
- Rockwell's Automation's latest cylindrical capacitive proximity sensors have an adjustable sensing distance and are equipped with two status indicators to show power and output. 875C and 875CP which are shielded and housed in a nickel-plated brass barrel and another one to a plastic barrel and are unshielded models. Both versions meet NEMA 12 and IP67 (IEC 529) enclosure standards.
- However, limitations in sensing capabilities and availability of other sensors at a lower cost might hinder the growth of the inductive proximity sensor market.
Key Market Trends
Automotive Industry to Drive the Market Growth
- Due to the increasing purchasing power of the millennial population, there is a continuous demand for passenger cars. According to OICA, the global passenger car was estimated to be 70 million units in 2018 and due to the latest trend in the adoption of autonomous vehicles, the demand is expected to increase during the forecast period.
- These days, all kinds of sensors are embedded in a vehicle e.g., position sensors, humidity sensor, temperature sensor, and others. The major sensor to be used in automotive vehicles now are capacitive proximity sensor where these sensors can be used in automotive, include infotainment system, keyless entry system, 3D gesture, and interior lighting control.
- For Example, in the parking assistance system, these sensors can detect the presence of objects in the pathway of the reversing vehicle and can raise the alarm to warn the driver. Proximity sensors also prevent collision with pedestrians while parking.
- Therefore, with autonomous vehicles coming in, these sensors are expected to witness an exponential growth in their demand.
North America to Account for a Significant Market Share
- The industrial applications of capacitive proximity sensor need a robust structure to sustain harsh environment. North America is one of the largest markets for industrial automation involves integrating the latest technological advancements.
- Capacitive proximity sensors are massively used in consumer electronics. For instance, nowadays, each smartphone is equipped with capacitive proximity sensor, which helps in reducing battery consumption by turning the display when not in use or settled down on a table or a surface, or while on a call. According to GSMA, the smartphones penetration has crossed 69% mark in 2017, which contributed 4.0% to the GDP.
- Furthermore, the automotive industry in North America is booming due to the latest trend of self-driving cars and increasing in demand for advanced autonomous vehicles, like SUVs and pickup trucks.
- The United States dominates the region owing to the presensce of significant industries and market giants of car manufacturers like General Motors, Ford. Also, the parts manufacturers like Hyundai, Kia. Around 14.5 million automobiles were sold in North America. In the near future, capacitive proximity sensing may influence market growth.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increase in Demand for Non-Contact Sensing Technology
4.4 Market Restraints
4.4.1 Limitations in Sensing Capabilities
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Cylindrical Capacitive Sensor
5.1.2 Rectangular Capacitive Sensor
5.2 By End-user Industry
5.2.1 Elevators and escalators
5.2.2 Manufacturing Industry
5.2.3 Consumer Electronics
5.2.4 Food & Beverage
5.2.5 Metals & Mining Industry
5.2.6 Aerospace and Defense
5.2.7 Other End-user Industries
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 Latin America
188.8.131.52 Rest of Latin America
5.3.5 Middle East & Africa
184.108.40.206 United Arab Emirates
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Rockwell Automation, Inc.
6.1.2 Omron Corporation
6.1.3 Honeywell International Inc.
6.1.4 Fargo Controls Inc.
6.1.5 Pepperl + Fuchs GmbH
6.1.6 IFM Electronic GmbH
6.1.7 Turck Inc
6.1.8 Panasonic Corporation
6.1.9 Broadcom Inc
6.1.10 Sick AG
6.1.11 TE connectivity
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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