Global Inductive Proximity sensor Market is valued approximately at USD 0.981 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.45% over the forecast period 2021-2027. The presence of metallic or non-metallic objects is detected using proximity sensors. Unlike typical sensors that require physical touch to identify an object, proximity sensors do not require physical contact to detect an object, resulting in a longer product lifetime due to no wear and tear. Proximity sensors are meant to provide precise and repeatable functioning in order to aid in the manufacture of effective products. Many automation applications use proximity sensors such as automated production lines for object detection, position, inspection, and counting. They are used to detect objects and do not necessitate direct touch with the target or object. Photoelectric, capacitive, and inductive proximity sensors are among the most common types. The market is driven by growing demand for non-contact sensing technology and growth in industrial automation. Furthermore, increasing number of product launches worldwide, boost the market demand for inductive proximity sensor. For instance, Autonics Corp. expanded their product portfolio of sensors by adding Photoelectric/Proximity sensor/door switch connection cables to the line-up in March 2021. Autonics proximity and photoelectric sensors can be used with the connection cables. The connector to open-end and connector to connector types of cables are available. Furthermore, many configurations are available based on the user and environmental requirements in order to meet the numerous uses of proximity sensors and to satisfy broader consumer needs that can provide the company a competitive advantage in the market. However, Limitations in Sensing Capabilities, may impede market growth over the forecast period of 2021-2027.

Asia Pacific region is anticipated to expand at a faster rate than other regions because of growing countries like China and India. In addition, the region is home to major suppliers such as Omron Corporation, Panasonic Corporation, and Autonics Corporation. Automobile manufacturers focus on fulfilling the demand for electric vehicles (EVs) and low fuel usage by designing vehicles that are lower in weight and use aluminium instead of iron. As the use of mixed manufacturing lines including both aluminium and iron increases, so is the demand for proximity sensors with similar detection distances and extended sensing ranges.

Major market player included in this report are:
Riko Opto-electronics Technology Co. Ltd
Delta Electronics Inc.
Riko Opto-electronics Technology Co. Ltd
Datalogic SpA
Hans Turck GmbH and Co. Kg
Autonics Corporation
K.A. Schmersal GmbH & Co.
Eaton Corporation PLC
Rockwell Automation Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By End user application:
Aerospace and Defence
Other End-user Applications
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Inductive Proximity sensor Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers