The comprehensive study of “Proximity Sensor Market” report provides deep idea into the market dynamics & overall development of the industry. The report covers growth prospect, current information, market risks involved, cost structure & several other vital information is included in the Proximity Sensor industry report. The latest market study on the Proximity Sensor Market applies the best primary and secondary research techniques to bring the growth rate up to 2024.
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Proximity Sensor Market by Key Players:
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- In-depth analysis of the market on the global and regional level.
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- Segmentation on the basis of type, application, geography and others.
- Historical and future market research in terms of size, share, growth, volume & sales.
- Major changes and assessment in market dynamics & developments.
- Industry size & share analysis with industry growth and trends.
- Emerging key segments and regions
- Key business strategies by major market players and their key methods.
- The research report covers size, share, trends and growth analysis of the Proximity Sensor Market on the global and regional level.
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Key Market Trends:
Automotive Industry is Expected to Hold the Largest Market Share
– The touch-free user interface is driving the adoption of proximity sensors in automotive applications. Applications, where these sensors can be used in automotive, include infotainment system, keyless entry system, 3D gesture, and interior lighting control.
– 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.
– Due to the increasing purchasing power of the millennial population, there is a constant demand for passenger cars. The global passenger crossed 86 million units mark in 2018, and the market is expected to follow the trend during the forecast period.
– For an average consumer, trucks are reliable options, as they have better fuel efficiency and safety features. These factors drive the growth of heavyweight vehicles. Premium vehicles and utilities continue to drive the sales of light vehicles, which cumulatively contribute to an increase in the demand for inductive proximity sensors market during the forecast period.
North America to Witness a Significant Growth
– Inductive proximity sensors are used majorly in the industrial and automotive segments. These sensors are set to witness an increased growth rate in these industries as they are cheaper and efficient, and industries, like the automotive, require such technologies to match the growing consumer demand.
– The industrial applications of proximity sensors 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.
– Nowadays, each smartphone is equipped with proximity sensors to reduce the battery consumption by turning the display off by detecting it is close to ears while calling. According to GSMA, the smartphones penetration has crossed 69% mark in 2017 which contributed 4.0% to the GDP.
– Tech giants like Apple Inc. is putting efforts in developments of smartphones with the applications of proximity sensors. For instance, in June 2018, it patented a system that uses a motion sensor inside the smartphone to detect when it has been dropped and begin preparing for an impact. Inductive Proximity sensors on the outside of the device will also be used to spot a potential impact surface.
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