The global proximity and displacement market size was US$ 6.47 billion in 2021. The global proximity and displacement market size is forecast to reach US$ 15.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.9% during the forecast period from 2022 to 2030.

A proximity sensor detects whether an object is present near the sensor by detecting any changes in its proximity. Due to its non-contact detection, the sensor is highly reliable and durable. Displacement Sensors detect and convert displacement from multiple elements into a distance, allowing them to measure the distance between a sensor and an object. There are several types of sensors, including optical displacement sensors, linear proximity sensors, and ultrasonic displacement sensors, depending on the element. 

Factors Influencing Market Growth

• The growing popularity of electronic devices, including smartphones, tablet computers, and play stations, is forecast to fuel the global market growth over the forecast period. Tablets, smartphones, and play stations come equipped with proximity and displacement sensors.
• Increased adoption of contactless sensing applications for automotive security and the increasing popularity of proximity and displacement sensor applications are forecast to drive the global market.
• A shortage of skilled professionals for implementing the technology may slow down the growth of the global proximity and displacement sensor market.
• Increasing awareness for optimal energy consumption and the availability of affordable technologies are also contributing to the global market growth.

Impact Analysis of COVID-19

The COVID-19 has positively impacted the global market growth. The virus outbreak has caused many people to stay indoors, resulting in fewer physical interactions between people. Sensors on consumer electronics safety devices have made it possible to detect and sense objects without touching them. Further, demand in the IT & telecommunication segment increased due to the increase in broadband usage, the demand for cloud services, and growth in video streaming. COVID-19 has brought attention to the importance of digital transformation and technologies, such as 5G, Internet of Things (IoT), Artificial Intelligence (AI), and intelligent edge computing for the future. 

Regional Insights

The Asia Pacific region is forecast to show the highest growth rate in the proximity and displacement sensor market during the forecast period. The rapid urbanization and economic development in South Asia & Pacific are forecast to drive the growth of the proximity sensor market in the region. Many countries, like India, Indonesia, Singapore, and Australia, have adopted such detection technologies to use in robotics, industrial inspection, and consumer goods.

Leading Competitors

The leading prominent companies profiled in the global proximity and displacement sensor market are:

• Omron Corporation
• IFM Electronics GmbH
• Kaman Corporation
• Keyence Corporation
• Lion Precision
• Micron Optics
• Panasonic Corporation
• Pepperl+Fuchs
• Standex-Meder Electronics Incorporated
• Turck Incorporated
• Other Prominent Players

Scope of the Report

The global proximity and displacement sensor market segmentation focuses on Type, End-User, and Region.

Segmentation based on Type

• Inductive Sensor
• Photoelectric Sensor
• Capacitive Sensor
• Ultrasonic Sensor
• Magnetic Sensor
• LVDT (Linear variable differential transformer) Sensor
• Others

Segmentation based on End-User

• Automotive
• Healthcare
• Manufacturing
• Food And Beverage
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America