Researchers at VisionResearchReports report that the global position and proximity sensors market is expected to expand at a CAGR of 5.5% and is likely to cross a valuation of $13,626.7 million by the end of 2025. Expanding demand for accurate and efficient spotting sensors in vehicles is spurring an upsurge in the use of proximity sensors globally.
Observations
- Manufacturers of automobiles are progressively integrating sensors in their new vehicles.
- Aviation industry is expected to emerge as one of the leading users of position and proximity sensors owing to their electromagnetic and ultrasound properties.
- Asia Pacific except Japan to be the leading region in the global market and is expected to retain its leading position by the end of the forecast period.
- Industrial sector is expected to emerge dominant by the end of the forecast period and touch a valuation of US$2,437 Mn by 2025 end.
- Some players in the market include AMS AG, Allegro Microsystems, LLC, Honeywell International, Inc., Infineon Technologies AG, MTS Systems Corporation, Renishaw PLC, and TE Connectivity Ltd.
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VisionResearchReports