Albany, NY -- (SBWIRE) -- 12/17/2015 -- Proximity and displacement sensors are used to detect the presence of nearby objects without touching them physically. These sensors are embedded in machineries for machine vibration monitoring. This helps in measurement of variation in the distance between the shaft and it support bearing. In addition, these sensors are also used in smart devices such as smartphones and tablets to detect accidental touch screen taps when held to the ear for calls. There sensors are in demand due to the increasing demand for automated machineries in various industries such as automotive, food and beverages and process industries among others. In addition, the price of these sensors are falling drastically which is acting as a driver of this market.

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The global proximity and displacement sensors market is expected to witness significant growth during the forecast period. This is due to increasing demand for automation and the importance of feedback based production in all the industries. In addition, the growing awareness of safety in automobiles is also driving the market. Presently, the automotive industry holds the majority of the market and is expected to dominate the market during the forecast period. In addition, the introduction of unique safety features such as parking assist, automatic cruise control, side assist and lane assist in automobile is giving a boost to the use of proximity and displacement sensors market. Moreover, the use of these sensors in the process industries is also growing rapidly. Furthermore, the increasing concern for healthy living is increasing the demand of wearable technology which also uses proximity and displacement sensors.

Adoption of high end technologies and the concept of nanotechnology is also creating new opportunities for the proximity and displacement sensors manufacturers globally. However, the limitation in sensing capabilities is acting as a restraint for the market. Regionally, Asia Pacific has the highest penetration rate for proximity and displacement sensors due to the presence of developing nations like India and China.

This market research study analyzes the proximity and displacement sensors market on a global level, and provides estimates in terms of revenue (USD million) from 2014 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.

The report segments the market on the basis of geography as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the product type, which include inductive sensors, photoelectric sensors, capacitive sensors, magnetic sensors, ultrasonic sensors, LVDT sensors and others. The proximity and displacement sensors are most widely used in automotive industries. It also segments the market on the basis of end user industries as automotive, food and beverages, process industries, pharmaceutical, industrial manufacturing and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD million).

For better understanding of the proximity and displacement sensors market, we have given a detailed analysis of the value chain. A detailed Porter's five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.

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The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company overview, financial overview, business strategies, and the recent developments in the field of proximity and displacement sensors. Major market participants profiled in this report include OMRON Corporation, Schneider Electric, Eaton Corporation Plc and IFM Electronics GmbH, among others.

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