Increasing Application in Industrial Equipment and Smart Devices to Fuel Demand from Global Proximity and Displacement Sensors Market

The demand for automating processes has remained constant across the industrial sector. Proximity and displacement sensors are a crucial part of automation processes, which is why the proximity and displacement sensors market has been growing steadily over the last few years. According to Transparency Market Research, the global proximity and displacement sensors market, which stood at US$2.93 billion in 2013, is anticipated to reach US$3.56 billion in 2020. If the figures hold true, the market will exhibit a 2.8% CAGR between 2014 and 2020. The moderate growth of this market is attributed to its increasing application in industrial equipment and smart devices.

Globally, leading industrial players have become more conscious about improving the efficiency of their production processes, which is the primary growth driver of the proximity and displacement sensors market. In addition, the escalating concerns relating to safety in automobiles have also aided the market expansion of proximity and displacement sensors.  

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What are proximity and displacement sensors?

Proximity and displacement sensors are mainly used to monitor and identify the presence of objects in close proximity without physically touching them. These sensors are mostly embedded in equipment and machinery to monitor machine vibration and to help in measuring the distance between shafts and their support bearing. Nowadays, these sensors are also integrated in smart devices such as smartphones and tablets to help several functions, such as detecting accidental taps on touchscreens when held close to the ear while in a call.

Increasing Demand for Automation in Industries and Devices Boosts Global Proximity Displacement Sensors Market

These sensors have maintained steady demand in the recent past, mainly because of the increasing...