Proximity sensor market expected to reach $6.6 billion by 2030 with 7.5% CAGR growth.

From GlobeNewswire: 2024-10-17 04:30:00

The proximity sensor market is valued at USD 4.3 billion in 2024 and is expected to reach USD 6.6 billion by 2030, indicating a 7.5% CAGR. Key drivers include application in smart logistics, healthcare infection control, and Industry 4.0, specifically predictive maintenance with inductive sensors measuring machine vibrations.

Inductive proximity sensors dominate the market with a focus on safety applications, particularly in industrial automation which sees a growing demand. The use of proximity sensors in automotive systems by companies like Tesla and BMW further boosts market growth, enhancing vehicle functionality and user experience.

The Asia Pacific region is set to experience significant growth in the proximity sensor industry, propelled by China’s aggressive adoption of Industry 4.0 and initiatives like “China Manufacturing 2025” to transform its manufacturing sector into a global leader in innovation and efficiency.

Leading companies in the proximity sensor market include OMRON Corporation, known for its innovative automation solutions, and KEYENCE CORPORATION, a global supplier of factory automation products. Both companies offer a range of products for various applications in industries such as healthcare and manufacturing.



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