Capacitive Proximity Sensor Market to reach US$ 2.3 billion by 2033, Driven by Rising Demand, Global manufacturing Trends, and Innovative Sensor Technologies | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Rising Adoption of Capacitive Proximity Sensors in Automobiles to Gush Market to US$ 2.3 Billion by 2033. The increasing trend of automation in manufacturing and process industries, along with the paradigm shift of the automotive industry towards autonomy and electrification, is expected to drive the capacitive proximity sensor's market growth during the forecast period Source: https://www.mordorintelligence.com/industry-reports/global-capacitive-proximity-sensors-market-industry
NEWARK, Del, Jan. 16, 2024 (GLOBE NEWSWIRE) -- The global capacitive proximity sensor market registered an astonishing CAGR of 7.5% in the historical period between 2018 and 2022. The global capacitive proximity sensor market is anticipated to reach a valuation of US$ 2.3 billion by 2033. It is anticipated to record a steady CAGR of 6.1% from 2023 to 2033. It is likely to total US$ 1.3 billion in 2023.
The capacitive proximity sensor market refers to the sector focused on manufacturing, distributing, and applying capacitive proximity sensors. These sensors are critical components in several industries and applications requiring non-contact detection and object or material dimensions.
Capacitive proximity sensors work on the standard of detecting changes in capacitance or the capability of an object to stock up electrical charge. They work by creating an electromagnetic field and calculating the alteration in capacitance when an object enters the sensor's detection range. This helps detect objects' occurrence, absence, or location without direct physical contact.
Capacitive proximity sensors are used in various industries, including manufacturing, automotive, healthcare, consumer electronics, and more. Manufacturers often offer customization options to meet exact application necessities. This includes adjusting sensitivity level, shape, and size. Capacitive proximity sensors are acknowledged for their toughness and resistance to ecological factors such as dust, humidity, and certain chemicals.
Increasing automation of industrial and manufacturing processes is the key driver driving the capacitive proximity sensor market. These sensors are important for object detection, level detection, and quality control tasks. With the popularity of touchscreen devices such as smartphones and tablets, the demand for capacitive sensors in the consumer electronics industry is increasing.
Capacitive proximity sensors are also used in medical equipment and devices, making them essential to healthcare. Continued research and development of sensor technology will lead to innovation that reduces costs, advances performance, and expands the applications of capacitive proximity sensors.
Key Takeaways from the Capacitive Proximity Sensor Market Report
In terms of type, the touch sensors segment is expected to expand at a 6.0% CAGR through 2033.
Based on end-use, the automotive category is projected to register an average CAGR of 7.2% from 2018 to 2022.
South Korea capacitive proximity sensor market is estimated to total US$ 84.3 million by 2033.
Japan capacitive proximity sensor market is projected to reach US$ 190.2 million by 2033.
China's capacitive proximity sensor market is projected to expand at a CAGR of 5.9% through 2033.
“Recent technological advances in capacitive proximity sensor technology are significantly expanding their use cases. For instance, the application of these sensors has increased in the renewable energy industry, particularly in wind turbines, to detect coolant and drive lubricant levels. Such trends are projected to support the market's growth through 2033.” - opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
Key players in the market are emphasizing strategic partnerships, agreements, and collaborations to surge their revenues. Several other manufacturers and leading players are capitalizing heavily in product launch and development.
For instance,
In October 2019, Analog Devices, Inc. cooperated with Digi-Key Electronics, a leading global electronic components distributor.
In March 2019, Renesas Electronics Corporation recognized a partnership with OMRON Corporation to develop products.
In March 2016, Synaptics, Inc. launched the S788x series of capacitive sensors extensively used in car infotainment systems.
Capacitive Proximity Sensor Market Outlook by Category
Type:
Touch Sensors
Motion Sensors
Position Sensors
Others
End-Use:
Automotive
Industrial
Aerospace & Defense
Marine
Others
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
