The inductive proximity sensors market is expected to grow quickly, from its present worth of US$ 2 Bn to US$ 5.5 Bn by 2032’s end, at a CAGR of 10.6%.
20.1% of the market is accounted for by industrial automation. Additionally, it is anticipated that during the projected period, the inductive proximity sensors market in China would expand at a CAGR of 10%. (2022-2032).
| Inductive Proximity Sensors Market Size (2022) | US$ 2 Bn |
| Projected Market Value (2032) | US$ 5.5 Bn |
| Global Market Growth Rate (2022-2032) | 10.6% CAGR |
| Market Share of Top 4 Countries | 40.4% |
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The usage of inductive proximity sensor technology was practiced by large industries over a decade ago. With improved technology and cost-effective solutions & services, inductive proximity sensor technology has been adopted by small- and medium-sized enterprises as well. Inductive proximity sensors are widely used by all tier companies to streamline operations, enhance industrial automation, and change the manufacturing landscape of the company.
Thus, the usage of inductive proximity sensors in industrial automation is gaining importance in various industries. Growth in the global inductive proximity sensors market is driven by their increasing demand in the industrial automation applications sector. Increase in the number of vendors that enable industrial automation and growth in the demand for Industrial Internet of Things (IIoT) are important factors driving the inductive proximity sensors market.
Inductive proximity sensors are rarely affected by temperature fluctuations and foreign impurities such as dirt and water. The effects are negated by using multiple receiver coils to calculate the position and deduce their distance from the ratio of received signals. This reliability factor enables the end user to use inductive proximity sensors in harsh environments.
What is Hindering Inductive Proximity Sensors Market Growth?
“Restricted Sensing Distances to Dent Market Growth Prospects”
Many inductive proximity sensors in use today have restricted sensing distances, adding risks such as equipment vibration, which might induce the sensor body to move too far away or collide with the sensing object.
- Omron estimates that such incidents will account for around 20% of plant shutdowns in the years ahead.
Moreover, only metallic devices can be identified by inductive proximity sensors, while other sensors can identify any material. Furthermore, the sensing distance of an inductive proximity sensor is determined by the type of metal being identified, its size, form, and coil size employed in the design.
Due to the aforementioned aspects, the inductive proximity sensor has sensing distance restrictions.
All of these constraints, such as detecting capability and the use of inductive proximity sensors solely on metallic objects, are anticipated to hinder the growth of the global inductive proximity sensors market during the forecast period.
Additionally, as technology advances, new sensor technologies such as photoelectric sensors, among others, are developing as alternatives to inductive proximity sensors, stifling the global inductive proximity sensors market growth.
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Competitive Landscape
The global inductive proximity sensors market is fragmented, with several significant players. Few big firms presently dominate the global inductive proximity sensors market in terms of market share. These market leaders are concentrating their efforts on growing their consumer base in overseas countries.
Moreover, these businesses are capitalizing on new product developments and strategic collaboration initiatives to enhance their profitability and market share.
Furthermore, market players are also absorbing start-up firms working on inductive proximity sensors to boost their production quality.
- January 2021 – Rockwell Automation developed the QuickStick HT Intelligent Conveyor to move huge loads with the ability of independent cart technology, with the automotive sector being the most popular application. It is also suitable for dangerous material handling, heavy-load material handling, and ride transportation. The firm is engaged in the production of different intelligent products for the automation sector, such as the new Allen-Bradley 856T Control Tower Stack Light system created by Rockwell in April 2021. These developments in smart devices and industrial automation highlight the company’s drive for innovation while also using its sensors, particularly inductive proximity sensors required for smart and intelligent devices.
Key Players
- SICK AG
- Panasonic Corporation
- Omron Corporation
- Datalogic S.p.A.
- Keyence Corporation
- Delta Electronics, Inc.
- Autonics Corporation
- Rockwell Automation Gm
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Inductive Proximity Sensors Market Industry Research Segmentation
By Type:
- Self-Contained
- Amplifier-in-Cable
- Separate Amplifier
By Industry:
- Consumer Electronics
- Industrial Automation
- Automotive
- Aerospace and Defense
- Pharmaceutical
- Packaging
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About the Electronics, Semiconductors, and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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