The Asia Pacific proximity sensors market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6.7% during 2023–2031. The growth of the market is attributed to rapid industrialization and economic development of the Asia-Pacific has attracted investors to countries such as China and India.
A proximity sensor is a type of sensor that detects the presence of an object when the target enters the field of the sensor. Depending on the type of proximity sensor, the sensor can use sound, light, infrared (IR), or electromagnetic fields to detect targets. There are different types of proximity sensors, such as capacitive, inductive, radar, and hall sensors. Effect can be changed according to its functional principle.
Proximity sensors are widely used in telephones, recycling facilities, self-driving cars, air defense systems, and assembly lines. Proximity sensors are also used for machine vibration monitoring to evaluate changes in the distance between the shaft and its thrust bearing. In large steam turbines, compressors, and motors with sliding bearings. Proximity sensors can also be used to detect air gestures and tampering during flight.
Asia Pacific Proximity Sensors Market Trends, Drivers, Restraints, and Opportunities
Rising demand for proximity sensors in consumer electronics products is expected to boost the market during forecast period.
Rapid growth of the manufacturing industry is likely to create demand for sensors automation process during forecast period.
Increasing demand for proximity sensors due to rapid urbanization is expected to drive the market growth during forecast period.
Lack of sensing capabilities and improper functioning of sensors is anticipated to hamper the market growth.
Lack of knowledge about its functioning and availability of sensors at low prices act as major factors that can restrict the market growth during the forecast period.
R&D investment and technological advancement in sensors capabilities for manufacturing and automotive industry is projected to create immense opportunities for the market players.
Scope of Asia Pacific Proximity Sensors Market Report
The report on the Asia Pacific proximity sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Asia Pacific Proximity Sensors Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Technology (Magnetic, Inductive, Capacitive, and Photoelectric), and End-users (Automotive, Consumer Electronics, Industrial, Aerospace & Defense, Food & Beverages, and Others)
Regional Scope: Asia Pacific
China, South Korea, India, Japan, and Rest of Asia Pacific
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Keyence Corporation, Delta Electronics Inc., Panasonic Corporation, TDK Corporation, and Autonics Corporation
Asia Pacific Proximity Sensors Market Segment Insights
Inductive segment is projected to hold a major market share
Based on technology, the proximity sensors market is bifurcated into capacitive, magnetic, inductive, and photoelectric. The inductive segment is expected to represent a key share of the market during the forecast period. The growing demand for purchasing various types of vehicles has driven the inductive proximity sensor market in terms of cost. Industrial applications, such as overcoming the harsh conditions that inductive proximity sensors can easily endure, create lucrative opportunities for the market players during forecast period. On the other hand, the magnetic segment is anticipated to expand at a rapid pace during forecast period. Magnetic proximity sensors are used to detect permanent magnets. Since magnetic fields penetrate all non-magnetic materials, these sensors can detect magnets through walls made of non-ferrous metals.
The industrial segment is expected to grow at a rapid pace
Based on end-users, the proximity sensors market is segregated into automotive, consumer electronics, industrial, aerospace & defense, food & beverages, and others. The industrial segment is expected to represent a key share of the market during the forecast period. Proximity sensors provide precise and repeatable operations for efficient manufacturing. The increasing automation of complex manufacturing systems requires components that can provide critical data about the manufacturing process, which is why they are now used in industrial robots to perform repetitive operations and hard work aimed at revitalizing the research market. Within five years, the number of industrial robots in Indian factories has doubled. In China, due to rising labor costs, global price competition, and product quality requirements, the penetration rate of industrial robots is also increasing. These sensors minimize the risk of sudden equipment failures, detect alarms to warn such failures, and notify users via the network.
On the other hand, the consumer electronics segment is anticipated to expand at a rapid pace during the forecast period. The high output of such electronic devices and components has made a significant impact on the market. The region is also one of the most important manufacturers and consumers of smartphones. Smart phones and wearable devices such as smart watches and fitness trackers are experiencing rapid growth in Asian countries, which is expected to drive the demand for proximity sensors during the forecast period.
The Asia Pacific proximity sensors market has been segmented on the basis of
- Consumer Electronics
- Aerospace and Defense
- Food and Beverages
- South Korea
- Rest of Asia Pacific
- Keyence Corporation
- Delta Electronics Inc.
- Panasonic Corporation
- TDK Corporation
- Autonics Corporation
Key players competing in the proximity sensors market include Keyence Corporation, Delta Electronics Inc., Panasonic Corporation, TDK Corporation, and Autonics Corporation.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.