The photoelectric and inductive sensors have experienced high adoption rates in various industry applications. These sensors are increasingly being used for various critical applications owing to their high reliability, adaptability and reasonable costing. Photoelectric sensors contributed around 28% revenue in 2014, followed by inductive sensors, accounting for around 23% of the total market revenue.
Portland, OR -- (SBWIRE) -- 09/08/2017 -- Allied Market Research published an in-depth report on the Asia-Pacific proximity and displacement sensors market for the period 2014–2020. The data presented in the report is a result of rigorous primary and secondary research carried out by core industry experts using analyst tools and models. Vital statistics, figures, charts, and tables are included to add credibility to the information presented in the report.
According to the report, the Asia-Pacific proximity and displacement sensor market is expected to garner $1.8 billion by 2020. It will exhibit a compound annual growth rate of 10.2% during the forecast period 2015–2020. The market overview includes the key findings of the analysis such as top impacting factors, must lucrative investment pockets, and the top winning strategies. Major driving factors, restraints, and opportunities affecting the dynamics of the market have been covered extensively in the report.
Summary of the report can be accessed on the website at @ https://www.alliedmarketresearch.com/asia-pacific-proximity-and-displacement-sensor-market
Porter's Five Forces Analysis analyzes the influence of buyers, suppliers, new entrants, the intensity of competitive rivalry, and substitute products on the proximity and displacement sensors market. The market is flooded with a large number of sensor manufacturers, thus lowering the bargaining power of the suppliers. Buyers have a moderate bargaining power due to the constant threat of backward integration. The proximity and displacement sensors market does not require large initial investments owing to which the threat of new entrants setting foot in the market is high. A large number of unequal-sized competitors are present in the market which gives rise to high competitive rivalry in the market.
The report classifies the Asia-Pacific proximity and displacement sensors market by the type, application, end user, and the country. The different types of sensors available in the market include inductive sensors, photoelectric sensors, capacitive sensors, ultrasonic sensors, magnetic sensors, and LVDT sensors. Applications such as parking sensor systems, ground proximity sensor system, vibration monitoring and measurement, anti-aircraft warfare, roller coasters, conveyor systems, mobile devices, and assembly line testing use sensors extensively. The end users segment comprises of the automobile, pharmaceutical, food and beverage, pulp and paper, elevators and escalators, manufacturing, and the metals and mining industry. The market presence, value, and competitive scenario of the proximity and displacement sensors market are analyzed across the Asia-Pacific region in countries such as China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific (Malaysia, Indonesia, Vietnam, and Thailand). The concentration of industrial sectors in China is high due to which it will continue to dominate the market during the forecast period.
The profiles and winning strategies of the leading players in the market such as ifm Electronic GmbH, Kaman Corporation, Keyence Corporation, Omron Corporation, Standex-Meder Electronics Inc., Turck Inc., Sick Sensor Intelligence, Panasonic Corporation, Micron Optics Inc., and Pepperl-Fuchs are presented in the report.
Key points of the report
- The report provides a quantitative and qualitative analysis of the market highlighting the current and emerging market trends and growth opportunities.
- Value chain analysis provides detailed information about the role of the manufacturers, wholesalers and distributors, retailers, and the government in the development of the market.
- With an increase in the number of applications, photoelectric sensors are expected to garner the largest market share during the forecast period.
- Based on the type of end users, the automobile and manufacturing industries collectively contribute 50% of the market revenue.
- India is anticipated to exhibit the highest CAGR in the Asia-Pacific proximity and displacement sensors market.
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