Market Size of North Amercia Proximity Sensor Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.62 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
North America Proximity Sensors Market Analysis
The North America proximity sensor market is expected to grow at a CAGR of 5.62% during the forecast period. One of the major trends witnessed in the North America region is sustained growth in the adoption of industrial automation which is expected to drive the studied market.
- Dependence on robots in industrial controller mechanisms is currently an established trend, paving the way for larger and wider adoption of industrial control and industrial automation equipment. Material handling is one of the fastest-growing application markets for proximity sensors in the region. As proximity sensors are typically attached to material handling equipment (MHE), such as forklifts, and activate a signal when an entity (a person or other MHE) is detected, the growth of material handling equipment, especially the automated ones, is boosting the growth of the market
- Connected vehicles and autonomous vehicles are key developments in the automotive industry in North America. Economic developments increase per capita income of consumers, thereby, increasing their standard of living. An increase in demand for luxury and comfort vehicles can be attributed to the rise in per capita income, which is another factor fueling the demand for autonomous vehicles.
- The supportive government initiatives and policies for the self-driving technology have enabled the adoption of connected and autonomous vehicles. The region is also witnessing numerous collaborations and partnerships for the testing and adoption of the technology.
- In addition to that, established manufacturers are increasingly collaborating with start-ups to acquire the autonomous technology. Furthermore, companies are also collaborating with various service providers to test the viability of autonomous cars. In 2018, Ford Motor Company partnered with Walmart Inc. to test self-driving cars for consumer goods and grocery delivery. Vehicles incorporating AEB, ADAS, FCW, and PAS systems are driving the market for automotive proximity sensors.
- With the increasing usage of cars across the region, the demand for smart parking is also growing. Thus, parking industry in North America is rapidly moving toward smart technologies and leading to adoption of high-end automation and parking reservation solutions which are getting integrated into the many mobility solutions and hence contributing to the growth of the market.
- In April 2020, Bluetooth location beacon startup Estimote Inc developed a new product designed specifically for curbing the spread of COVID-19. The devices, called the 'Proof of Health' wearables, aim to provide contact tracing at the level of a local workplace facility. The hardware includes passive GPS location tracking, as well as proximity sensors powered by Bluetooth and ultra-wide-band radio connectivity, a rechargeable battery and built-in LTE.
North America Proximity Sensors Industry Segmentation
A proximity sensor is a sensor that is able to detect the presence of nearby objects without any physical contact. For sensing objects, this sensor radiates or emits a beam of electromagnetic radiation, usually in the form of infrared light, and detects the reflection to determine the object's proximity or distance from the sensor. A proximity sensor often emits an electromagnetic field or a beam of electromagnetic radiation (for instance, infrared) and detects changes in the field or return signal.
By Technology | |
Inductive | |
Capacitive | |
Photoelectric | |
Magnetic |
By End-User | |
Industrial | |
Automotive | |
Electronics and Semiconductor Manufacturing | |
Aerospace and Defense | |
Packaging | |
Other End-use Applications |
By Country | |
United States | |
Canada |
North Amercia Proximity Sensor Market Size Summary
The North America proximity sensor market is poised for significant growth, driven by the increasing adoption of industrial automation and the rising demand for smart technologies across various sectors. The integration of proximity sensors in industrial control systems and material handling equipment is a key trend, as these sensors enhance operational efficiency and safety. In the automotive industry, the development of connected and autonomous vehicles is fueling the demand for proximity sensors, supported by government initiatives and collaborations aimed at advancing self-driving technologies. Additionally, the growing popularity of smart parking solutions and the proliferation of smartphones and wearables are contributing to the market's expansion, as these devices increasingly rely on proximity sensing capabilities.
In the aerospace and defense sector, proximity sensors are essential for ensuring safety and reliability in various aircraft systems, with their non-mechanical contact and environmental adaptability making them indispensable. The market is characterized by the presence of major players like Rockwell Automation Inc. and Honeywell International Inc., who are focusing on strategic collaborations and product innovations to maintain their dominance. However, mid-size and smaller companies are also gaining traction by securing new contracts and exploring untapped markets. The COVID-19 pandemic has further accelerated the adoption of proximity sensors in health and safety applications, as seen in the development of systems for social distancing and contact tracing.
North Amercia Proximity Sensor Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Intensity of Competitive Rivalry
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1.2.5 Threat of Substitute Products
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1.3 Industry Value Chain Analysis
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1.4 Impact of COVID-19 on the Market
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1.5 Market Drivers
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1.5.1 Growth in Industrial Automation
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1.5.2 Increase in Demand for Non-contact Sensing Technology
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1.6 Market Restraints
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1.6.1 Limitations in Sensing Capabilities
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2. MARKET SEGMENTATION
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2.1 By Technology
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2.1.1 Inductive
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2.1.2 Capacitive
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2.1.3 Photoelectric
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2.1.4 Magnetic
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2.2 By End-User
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2.2.1 Industrial
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2.2.2 Automotive
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2.2.3 Electronics and Semiconductor Manufacturing
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2.2.4 Aerospace and Defense
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2.2.5 Packaging
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2.2.6 Other End-use Applications
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2.3 By Country
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2.3.1 United States
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2.3.2 Canada
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North Amercia Proximity Sensor Market Size FAQs
What is the current North Amercia Proximity Sensor Market size?
The North Amercia Proximity Sensor Market is projected to register a CAGR of 5.62% during the forecast period (2024-2029)
Who are the key players in North Amercia Proximity Sensor Market?
Rockwell Automation Inc., Honeywell International Inc., Turck, Inc., Fargo Controls Inc. and Analog Devices, Inc. are the major companies operating in the North Amercia Proximity Sensor Market.