Growing
applications of proximity and displacement sensors in nanotechnology
and the automotive industry are projected to boost the global market
in the coming few years, states a recent report published by
Transparency Market Research. The report, “Proximity and
Displacement Sensor Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 – 2020”, indicates that by 2020,
the global proximity and displacement sensor market will reach
US$3.56 billion, growing from US$2.93 billion in 2013, at 2.8% CAGR
during the forecast period.
The
proximity and displacement sensor market is largely driven by rising
demand for efficient production methods, growing awareness about
wearable technology, and increasing application in automotive and
manufacturing industries. However, the limitation on sensing
capabilities is projected to restrict the growth of the proximity and
displacement sensor market.
By
product, the market can be segmented into capacitive sensors,
ultrasonic sensors, magnetic sensors, LVDT sensors, photoelectric
sensors, inductive sensors, and others. Photoelectric sensors led the
proximity and displacement sensor market by product type, accounting
for US$843.4 million in 2014.
Press
Release:
http://www.transparencymarketresearch.com/pressrelease/proximity-displacement-sensors.htm
Proximity
and displacement sensors find applications in a number of industries
such as automotive, process industries, pharmaceutical, food and
beverages, and industrial manufacturing. In 2014, the automotive
sector dominated the market with revenue totaling US$698.2 million.
The process industry is predicted to register a 2.95% CAGR from 2014
to 2020, making it the fastest growing application segment.
Asia
Pacific led the proximity and displacement sensor market in 2014,
with Europe and North America together accounting for 50% of the
global market that year.
Some
of the prominent players operating in the worldwide market for
proximity and displacement sensors are Schneider Electric, Balluf
GmbH, Eaton Corporation Plc, OMRON Corporation, IFM Electronic GMBH,
and Panasonic Corporation.
Browse
all Semiconductor & Electronics Reports:
http://www.transparencymarketresearch.com/semiconductor-market-reports-5.html
About
Transparency Market Research
Transparency
Market Research (TMR) is a U.S. based market intelligence company
driven by high-pedigree consultants and researchers. TMR leverages
its Syndicated Research, Custom Research, and Market Consulting
expertise to help businesses make accurate decisions. TMR’s
exclusive blend of quantitative forecasting and trends analysis draws
on proprietary data sources and techniques, while their data
repository is continuously updated to reflect the latest trends.
Contacts
Transparency
Market Research
Mr.
Atil Chaudhari, +1-518-618-1030
USA-Canada
Toll Free: 866-552-3453
sales@transparencymarketresearch.com
http://www.transparencymarketresearch.com/
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