Position and Proximity Sensors Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2712
Position and Proximity Sensors Market size is anticipated to grow substantially in the forecast timeframe impelled by advent of digitalization. The penetration of advanced automation technologies across various industry verticals will support the adoption of these sensors in production facilities. Industries are heavily relying on monitoring systems to ensure process efficiency and product quality, thereby stressing the need for appropriate sensor technologies. The growing adoption of digitalization is revolutionizing the manufacturing sector. The concept of the interconnected factory is gaining traction and is expected to provide growth opportunities to the position and proximity sensors market growth.
The proliferation of Industrial Internet of Things (IIoT) coupled with the growing significance of advanced automated factories will contribute to the position and proximity sensors market growth. The need to ensure enhanced communication among several assets in a facility, the real-time insight, and analysis in the production floor will encourage the incorporation of these sensors. Sensors collect the necessary data and transmit it to the controller thereby enabling the remote monitoring of the factory. Real-time and accurate monitoring of all objects is crucial factors in an industrial process for the early detection of issues and faults. Several government initiatives supporting the IIoT technology will spur the demand for advanced sensors, thereby boosting the position and proximity sensors market demand.
Technological advancements in the sensor industry coupled with the trend of miniaturization in the electronics sector will fuel the position and proximity sensors market growth. Integrated smart sensors are increasingly used in miniaturized chips. The developments in the wireless communication technologies that facilitate enhanced data transfer will propel the position and proximity sensors’ market growth. Compact dimensions and fast signal processing in these sensors are the ongoing key trends. The advancements in the semiconductor industry will also favor the position and proximity sensors market growth.
Several sensor types impose a limit on the distance at which the object to be sensed is placed, thereby restricting the sensing capabilities and reducing the precision. Some sensors detect a specific type of material putting limitations on the type of material being sensed, thereby compelling the user to use an extensive sensor network that can detect varied material types. The sensitivity to extreme environmental changes of these sensors is expected to hinder the position and proximity sensors market growth. Issues pertaining to the relevant hardware in a sensor system are sometimes complicated to solve. The lack of the availability of skilled technicians in developing economies will discourage the adoption of these sensors in industries, thereby hampering the position and proximity sensors market growth.
The ultrasonic linear position and proximity sensors market will witness growth owing to the increasing adoption of these sensors in the robotics industry. The flourishing robotics industry is demanding high-performance sensors that can enable enhanced remote controlling of the robot and a fast data transfer. Ultrasonic sensors enable efficient contactless measurements in navigation systems for mobile robots. Infrared sensors offer quicker response time and higher resolution as compared to ultrasonic sensors. The combination of infrared and ultrasonic sensors can be used to detect a wider range of obstacles. The increasing demand for these sensors in production lines, liquid level control monitoring, robotics sensing, vehicle detection for automotive assembly, and anti-collision detection will fuel the position and proximity sensors market.
Rising awareness of safety and monitoring systems in automobiles is providing growth opportunities to the position and proximity sensors market. These sensors help in precise and fast motion sensing applications. The developing Advanced Driver-Assistance Systems (ADAS) industry will further favor the position and proximity sensors market growth. The need for enhanced passenger safety in vehicles coupled with government regulations pertaining to driver safety will encourage the adoption of these sensors in the automotive industry. The rising standard of living and the growing disposable incomes have led to the demand for sophisticated cars with advanced technologies. The penetration of AI and IoT in the automotive sector that centers around a strong sensor network will fuel the position and proximity sensors market growth.
The position and proximity sensors market will witness growth owing to the increasing demand from the robotics industry. The increasing penetration of automation and digitalization across all industry verticals has led to the rising adoption of robotic technologies. Sensors form a core component of the robotic technology as they enable remote monitoring of robots and facilitate the data transmission. Sensors are also being incorporated into material handling systems such as conveyors for enhanced safety, ensuring fast obstacle detection and data transmission in automated material handling systems.
The Europe position and proximity sensors market is expected to flourish owing to the advanced automotive sector in Germany. The advent of IIoT and Industry 4.0 in countries including France and Germany will encourage the demand for these sensors. Several European countries including Spain and Italy recovering from the economic crisis and focusing on industrialization will propel the position and proximity market growth. Increasing number of factories is using digitalization techniques to enhance the production and the supply chain process, thereby demanding the implementation of advanced sensor technologies.
Major players in the position and proximity sensors market include Honeywell International, Inc., AMS AG, Allegro Microsystems, LLC, Infineon Technologies AG, Renishaw PLC, STMicroelectronics N.V., TE Connectivity Ltd., and MTS Systems Corporation. Increasing competition among key players to launch high-performance sensors further contributes to the industry demand. In August 2017, Honeywell announced the launch of self-diagnosing sensors for the safety and performance of aircraft systems. The developing automation and electronics industry will lead to more players entering the position and proximity sensors market.
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