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(Telecom-NewsWire.Net, January 08, 2018 ) Global Proximity Sensor is expected to reach USD 0.0070 Billion in 2024 with a CAGR of 1.90%. Factors involved in the growth of Proximity Sensor market include increased usage of sensors in the field of packaging machines, machine tools, and woodworking machines industries.

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Capacitive Sensors hold the most significant share of the market
Based on product type, Proximity Sensors market is segmented as Capacitive Sensors, Magnetic Sensors, Infrared Sensors and Force Sensors. Among these, Capacitive Sensors hold the most significant share of the market as it is less cost, low power consumption, high reliability and they are extensively used in smart homes, transportation and in packaging machines. Infrared Sensors are expected to hold significant shares in the market owing to increasing demand in manufacturing night vision devices and gas detectors.

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Automotive industries hold the most significant share in the market
Based on end-user application, Proximity Sensors market is segmented as Aerospace and Defense, Automotive, Construction, Consumer Electronics and Food and Beverage industries. Out of these, Automotive holds the most significant share in the market concerning revenue generation owing to increased demand for proximity sensors for manufacturing smart vehicles and gesture recognition systems. Aerospace and Defense is said to hold significant shares in the market due to the usage of sensors for detecting the enemy vehicles.

UAE held the most significant share in the market in 2017
As a result of evolving technology, UAE contained the most significant share in the market in 2017 owing to increased usage of sensors in automotive and consumer electronics industries. Increased adoption of proximity sensors has influenced the growth of the market in UAE region.
The crucial players in the Proximity Sensor market include Omron, Gentech International Ltd., HoneyWell Process Solutions, Panasonic Corporation, Balluff GmbH, and Siemens Aktiengesellschaft.

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