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(IT-NEWSWIRE.COM, January 09, 2018 ) China Proximity Sensor is expected to reach USD 0.658 Billion in 2024 from USD 0.45 Billion in 2017 at a CAGR of 9.61%. Factors involved in the growth of Proximity Sensor market include increased usage of sensors in the field of packaging machines, machine tools, and woodworking machines industries.
Capacitive Sensors hold the most significant share of the market Based on product type, Proximity Sensors market is segmented as Capacitive Sensors, Magnetic Sensors, Infrared Sensors and Force Sensors. Among these, Capacitive Sensors hold the most significant share of the market as it is less cost, low power consumption, high reliability and they are extensively used in smart homes, transportation and in packaging machines. Infrared Sensors are expected to hold significant shares in the market owing to increasing demand in manufacturing night vision devices and gas detectors.
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Automotive industries hold the largest share in the market Based on end-user application, Proximity Sensors market is segmented as Aerospace and Defense, Automotive, Construction, Consumer Electronics and Food and Beverage industries. Out of these, Automotive holds the largest share in the market concerning revenue generation owing to increased demand for proximity sensors for manufacturing smart vehicles and gesture recognition systems. Aerospace and Defense is said to hold significant shares in the market due to the usage of sensors for detecting the enemy vehicles.
Related Reports Canada Proximity Sensor Market: https://www.envisioninteligence.com/industry-report/canada-proximity-sensors-market/ India Proximity Sensor Market: https://www.envisioninteligence.com/industry-report/india-proximity-sensors-market/
The China held the largest share in the market in 2017 As a result of evolving technology, China held the largest share in the market in 2017 owing to increased usage of sensors in automotive and consumer electronics industries. Magnetic proximity sensors are the preferred choice for the detection of non-contact magnets. The crucial players in the Proximity Sensor market include General Electric Company, Honeywell International, Panasonic Corporation, Omron Electrics Company and Fargo Controls among others.
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Source: EmailWire.Com
Source: EmailWire.com
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