According to Persistence Market Research’s report titled “Inductive Proximity Sensors Market: Global Industry Trend Analysis 2013 to 2017 and Forecast 2018 – 2026.”, the global inductive proximity sensors market is expected to register a global CAGR of 9.4% from 2018 to 2026. Based on industry, inductive proximity sensors used to enable industrial automation are expected to register the most attractive growth during. Based on type, inductive proximity sensors functioning with amplifier in cable are expected to gain the highest market share penetration during the forecast period.
- The global annual revenue from inductive proximity sensors was valued at US$ 1,278.6 Mn by the end of 2017 and is estimated to grow at a steady pace over the forecast period.
- Dominant regions, i.e., North America, SEA & Others of APAC, and Europe collectively account for a majority share in the global inductive proximity sensors market. These regions are likely to dominate the global market over the forecast period.
- The usage of inductive proximity sensor technology was practiced by large industries over a decade ago. With improved technology and cost-effective solutions & services, inductive proximity sensor technology has been adopted by small- and medium-sized enterprises as well.
- Inductive proximity sensors are rarely affected by temperature fluctuations and foreign impurities such as dirt and water.
- The inductive proximity sensors market in North America is estimated to hold the highest market share during the forecast period due to growth in the consumer electronics sector that has a significant impact on the inductive proximity sensors market.
- The inductive proximity sensors market has high potential in SEA and Other APAC owing to major technological advancements in consumer electronics and automotive markets. Thus, the inductive proximity sensors market in SEA and Others of APAC region will be targeted the most by inductive proximity sensors market participants.
- Some of the key market participants in the global inductive proximity sensors market include SICK AG; Panasonic Corporation; Omron Corporation; Datalogic S.p.A.; Keyence Corporation; Delta Electronics, Inc.; Autonics Corporation; Rockwell Automation GmbH; Pepperl+Fuchs; and Riko Opto-electronics Co., Ltd.
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