Inductive Proximity Sensors Market

Market Study on Inductive Proximity Sensors: Rapid Growth of Non-Contact Sensing Technology

Inductive Proximity Sensors Market Segmented By Self-contained, Amplifier-in-cable, Separate Amplifier

Inductive Proximity Sensors Market Outlook (2022-2032)

The global inductive proximity sensors market is projected to rise briskly at a CAGR of 10.6%, thereby increasing from its current valuation of US$ 2 Bn to US$ 5.5 Bn by 2032-end.

Industrial automation accounts for 20.1% share of the market. Moreover, the inductive proximity sensors market in China is estimated to develop at a CAGR of 10% during the forecast period (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%

Find Out More about the Report Coverage

Companies

  • SICK AG
  • Panasonic Corporation
  • Omron Corporation
  • Datalogic S.p.A.
  • Keyence Corporation
  • Delta Electronics, Inc.
  • Autonics Corporation
  • Rockwell Automation GmbH
  • Pepperl+Fuchs
  • Riko Opto-electronics Co., Ltd.
  • Others.

Sales Analysis of Inductive Proximity Sensors (2016-2021) Vs. Market Projections (2022 to 2032)

Between 2016 and 2021, the global market for inductive proximity sensors expanded rapidly at a CAGR of 11%.

Proximity sensors are used in a wide range of automation applications. They identify objects without coming into physical contact with them. Hence, they are referred to as non-contact sensors. The most common types of proximity sensors are inductive, photoelectric, and capacitive sensors.

Inductive proximity sensors are employed to identify metallic objects without contacting them. The oscillator and coil generate an electromagnetic field near the sensing surface, which is the operating mechanism of such sensors.

Large enterprises have been using inductive proximity sensor technology for almost a decade. Due to better technology and cost-efficient products and services, small and medium-sized businesses have also utilized inductive proximity sensor technology.

All tier organizations employ inductive proximity sensors to improve industrial automation, streamline processes, and modify the company's manufacturing landscape. As a result, the use of inductive proximity sensors in industrial automation is becoming more common in a variety of industries.

Moreover, temperature changes and outside contaminants such as water and dirt have little effect on inductive proximity sensors. The impacts are mitigated by employing numerous receiver coils to determine position and distance from received signal ratios. Due to this reliability element, end users can employ inductive proximity sensors in hostile situations.

During the forecast period (2022 to 2032), the global inductive proximity sensors market is expected to expand rapidly at a CAGR of 10.6%.

inductive-proximity-sensors-market

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On What Grounds is the Inductive Proximity Sensors Market Likely to Grow So Fast?

“High Demand for Non-Contact Sensing Technology”

Non-contact sensors are extensively used as displacement detectors (such as reed relays and limit switches) since they are more durable and safe than contact sensors.

Inductive proximity sensors are used in most cases where precise, non-contact identification of metallic objects is required in automation systems or machinery. Non-contact sensors provide a long service life, a quick response time, consistent performance, high durability, and reliability. Non-contact sensors, like inductive proximity sensors, are in high demand due to these advantages in factory automation, manufacturing, automation, and engineering.

Moreover, as the Internet of Things (IoT) grows, plants, factories, and operations are becoming automated with non-contact sensing technology.

The high demand for non-contact sensing technology is likely to boost the expansion of the global inductive proximity sensors market during the forecast period.

“Rapid Growth of Industry 4.0 across the World”

The rapid growth of Industry 4.0 is expected to propel the global inductive proximity sensors market during the forecast period.

  • In 2020, Bosch launched an innovative electronic component manufacturing facility in central Mexico with a US$ 120 million investment. This advanced Industry 4.0 facility produces crucial components for connected mobility. Additional development of such regional facilities would mean more prospects for the global inductive proximity sensors market.

Moreover, proximity perception in fields such as unmanned aerial vehicles (UAVs) or autonomous vehicles is often aimed at autonomous flying or driving. As a result, they handle greater speeds and distances while avoiding interaction and contact with persons and objects.

With such advancements, the need for inductive proximity sensors for use in drones, robotics, and automated delivery systems, is projected to grow even more.

  • For example, Amazon is currently trying drone delivery through its Prime Air Delivery service.

Such advancements and expansions in applications are projected to propel the global inductive proximity sensors market during the forecast period.

“Global Market Witnessed Massive Growth amid COVID-19 Crisis”

The outbreak of the COVID-19 pandemic had a significant impact on the sales of inductive proximity sensors market. The global market witnessed sluggish growth in the initial phase of the pandemic. Due to interruptions in distribution systems, raw material prices rose, affecting the overall cost of the inductive proximity sensors.

However, the global inductive proximity sensors market bounced back amid the COVID-19 pandemic, as inductive proximity sensors can be utilized in healthcare to help with the COVID-19 safety issue.

  • According to research, an inductive proximity sensor can be utilized for alarming, social distancing, and other purposes.

Moreover, due to a labor shortage and the necessity for remote working and monitoring, the demand for inductive proximity sensors increased in government-designated vital industries such as healthcare, manufacturing, and food and beverage.

Several market vendors employed this technology to limit the transmission of the coronavirus and, as a result, manufactured numerous electronic devices.

  • Estimote launched a new solution in April 2020 specifically tailored to combat the proliferation of COVID-19. The Proof of Health wearable combines passive GPS position tracking, Bluetooth proximity sensors, built-in LTE, and a rechargeable battery. Its goal is to offer contact tracing and to monitor the possible transmission of coronavirus from one person to another at the local workplace level.

Such aspects boosted the growth of the global inductive proximity sensors market amid the COVID-19 pandemic.

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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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Country-wise Insights

How is China's Strong Adoption of Industrial Automation Bolstering its Market?

The inductive proximity sensors market in China is estimated to develop at a CAGR of 10% during the forecast period. Since the last decade, the region's industrial automation adoption rate has been increasing, with sectors and businesses investing extensively in new technology. This is a significant aspect projected to bolster the global inductive proximity sensors market growth.

Moreover, due to increased expenditures in the Industry 4.0 revolution, the region has become the most notable adopter of industrial automation.

Category-wise Insights

How is Industrial Automation Aiding Global Market Expansion?

The industrial automation segment holds a 20.1% share of the global inductive proximity sensors market.

Increasing automation in the gas and oil industry to increase efficiency and lower investment costs by reducing the amount of human labor necessary to conduct operations in hostile environments is predicted to boost segment growth.

Inductive proximity sensors provide a long-lasting, dependable solution for gauging parameters on offshore oil rigs. Such sensors can also withstand extreme sea conditions such as salt water, which can be caustic and destructive to equipment.

Consequently, inductive proximity sensors are increasingly being used to accurately monitor the final placements of pipe handlers and other movable objects on the rig without compromising performance.

Manufacturing engineers favor automation solutions to reinforce their application while enhancing manufacturing efficiency and product quality. The advantages of industrial automation include efficient material utilization, improved product quality, and shorter production lead times, among other things.

Inductive proximity sensors play an important role in tracking manufacturing operations with precision, which increases the overall effectiveness of the process; as a result, the usage of inductive proximity sensors in industrial automation is expanding.

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.

Inductive Proximity Sensors Market Industry Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2016-2021

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Type
  • Industry
  • Region

Key Companies Profiled

  • SICK AG
  • Panasonic Corporation
  • Omron Corporation
  • Datalogic S.p.A.
  • Keyence Corporation
  • Delta Electronics, Inc.
  • Autonics Corporation
  • Rockwell Automation GmbH
  • Pepperl+Fuchs
  • Riko Opto-electronics Co., Ltd.

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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

Media Release

- FAQs -

The global market for inductive proximity sensors is estimated to reach US$ 5.5 Bn by 2032.

The global inductive proximity sensors market is valued at US$ 2 Bn in 2022.

The global inductive proximity sensors market is projected to surge at 10.6% CAGR over the decade.

The industrial automation segment is expected to lead the global inductive proximity sensors market.

SICK AG, Autonics Corporation, Pepperl+Fuchs, Panasonic Corporation, Riko Opto-electronics Co., Ltd Datalogic S.p.A., Keyence Corporation, Delta Electronics, Inc., Rockwell Automation GmbH, and Omron Corporation are leading inductive proximity sensor producers.

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