The inductive proximity sensors market size was estimated to be worth 1,035 million USD. It is anticipated that by the year 2030, it will be valued $1,985 million, showing a compound annual growth rate (CAGR) of 7.5% throughout the period of projection (2022–2030).
One of the factors that is making the road clear for inductive proximity sensors to enter the market is the increasing reliance on robots found in industrial controller systems. These inductive proximity sensors are often installed in all types of cars, including light commercial vehicles, large commercial vehicles, as well as other types of vehicles. The need for all types of vehicles is now on the rise, which is driving the expansion of the inductive proximity sensor market in terms of value. In industrial applications, extreme environments are the norm; nevertheless, inductive proximity sensors are more equipped to handle these kinds of conditions than other kinds of sensors, which contributes to the revenue creation for the market for inductive proximity sensors.
Non-contact detection of metallic objects may be accomplished through the use of inductive proximity sensors. Their mode of operation is predicated on the utilisation of a coil and oscillator, which are responsible for the production of an electromagnetic field in the immediate area surrounding the sensing surface.
Proximity sensors are utilised in a wide variety of automated applications. They are able to detect targets and things without coming into direct touch with either the target or the object being felt. As a consequence of this, we refer to them as non-contact sensors. Photoelectric, capacitive, and inductive sensors are the types of proximity sensors that are used most frequently. Inductive proximity sensors are applied in the process of determining the presence of metallic objects without physically touching them. The process by which these sensors carry out their tasks involves the production of an electromagnetic field in the area immediately surrounding the surface they are sensing using a coil and an oscillator.
Automation results in significantly improved quality, uniformity, and dependability of items delivered within the allotted time at a much reduced cost. As a result of the major part that proximity sensors play in the processes of monitoring and increasing production efficiency, the market for proximity sensors is experiencing growth. A rise in the demand for smartphones and other mobile devices, as well as rising applications in consumer electronics, industrial automation, automotive, aerospace, and defence, pharmaceutical, and packaging, amongst other industries, are expected to drive a significant increase in the demand for inductive proximity sensors over the forecast period. This is expected to result in a significant increase in the overall demand for these sensors. The demand brought on by the Industrial Internet of Things (IIoT) is also anticipated to propel market expansion.
Europe: 540.9 million USD (2030 value); CAGR: 7.85%
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The expansion of the market in European nations is being fueled, in part, by the incorporation of proximity sensors into a variety of products, including automobiles and consumer electronics, amongst others.
The method of autonomous driving is dependent on proximity sensors, which give it the ability to do an analysis of the item from a range of distances. Not only do sensors assist in determining the real surroundings and the potential threats that are now present, but they also enable the vehicle deliver an appropriate reaction. These responses can include things like speeding up or slowing down, turning, coming to an emergency stop, and engaging in evasive manoeuvres.
It is anticipated that hybrid vehicles and electric vehicles would drive the expansion of the automotive sector in European countries, with corporations concentrating their efforts on developing electric vehicle technology. In addition, a number of national governments are rallying behind the introduction of plug-in electric automobiles. For instance, the federal government of Germany has planned to come out a regulation that would cut in half the monthly charge for electric vehicles (EVs) and hybrid corporate cars in order to boost the number of electric vehicles (EVs) that are driven on Germany's roads.
In addition, the government of the United Kingdom has contributed GBP 100 million to the UK Connected Intelligence Transport Environment (UK CITE), a project that aims to develop a sophisticated environment for the testing of autonomous and connected vehicles. Components of this project include emergency vehicle warning (EVW), road works warning (RWW), emergency electronic brake light (EEBL), and traffic condition warning (TCW). These developments will continue to fuel the adoption of electric cars, which will in turn have an effect on the market for proximity sensors.
The aircraft industry is quickly becoming Europe's most advanced and technologically advanced sector. The European aeronautic industry is a multifaceted industry that is involved in the development and manufacturing of a wide range of products. Some examples of these products include aircraft engines, unmanned aerial vehicles, helicopters, military aircraft, and civil aircraft, as well as systems and equipment. It is anticipated that an increasing number of foreign investors within the aerospace sector, particularly in research and development (R&D), in order to maintain global competitiveness will also drive the market.
The majority of the Europe inductive proximity sensors market that are used today have restricted detecting distances, which adds risks such as equipment vibration, which might cause the sensor body to wander too far away from, or come into touch with, the item that is being sensed. It has been estimated by Omron that incidents of this nature will be responsible for around 20% of all plant shutdowns.
The proximity gap is expanded up until the sensor is turned off at the maximum target approach; however, the target is not recognised during the subsequent approach cycle. The proximity sensor gap is programmed to activate and turn on as the target gets closer, but at a certain point, the functioning becomes sporadic. In addition, Europe inductive proximity sensors market are only able to detect items made of metal, but other sensors are capable of identifying any type of material.
Additionally, the detecting range of an inductive proximity sensor is determined by the type of metal being detected, as well as its form, size, and the size of the coil that was utilised in the construction of the sensor. Because of the reasons stated above, the inductive proximity sensor has restrictions on the maximum distance it can detect. In the case of typical inductive proximity sensors, a reduction factor can be created by non-ferrous objects like aluminium. The sensors' decreased responsiveness to these targets contributes to a general diminution in the detectable range.
The expansion of the market that was investigated is being hampered by all of these limitations, which include the sensing capabilities and the fact that inductive proximity sensors can only be used on metallic items. In addition, as a result of the constant development of technology, new sensor technology is developing as an alternative to inductive proximity sensors. These new sensor technologies, which include photoelectric sensors, amongst others, will also hinder the expansion of the market.
The European economy held the second-largest proportion, estimated at USD 275 million in 2021. It is anticipated to reach a worth of USD 530 million by 2030, with a CAGR of 7.5% during the forecast period. Industrial automation in the region has been seeing rise in the adoption rate throughout the previous decade, with sectors and corporations spending extensively on new technology. The area has been the most notable adopter of industrial automation, owing to the increased expenditures in the industry 4.0 revolution.
There are five different end-user applications that make up the Europe inductive proximity sensors market. These applications include industrial, automotive, aerospace and defence, packaging, and others. In terms of the end-user application market, the industrial sector held the greatest market share in 2021 and was estimated to be worth 440 million USD. It is anticipated that by the year 2030, its value would have increased to a total of USD 880 million, representing a CAGR of 8% throughout the period being analysed. Over the course of the projected period, the end-user vertical segment that is aerospace and defence will see the greatest CAGR, which is 9.41%.
Manufacturing is one industry that has been forced to incorporate Europe inductive proximity sensors market as part of their industrial automation because of the rapid pace of technological innovation. These sensors are able to withstand the extreme circumstances of the ocean, such as exposure to salt water, which may be corrosive and cause damage to equipment. As a consequence of this, the installation of inductive proximity sensors allows for an accurate monitoring of the final locations of pipe handlers and other moving components on the rig without negatively impacting performance.
Large corporations have been using inductive proximity sensor technology for a few years now; as the technology has improved, it has gained widespread acceptance by all tiers of organisations in order to speed up operations, improve industrial automation, and revolutionise the production landscape of a variety of businesses. The increasing number of companies that can facilitate industrial automation as well as the growing interest in the Industrial Internet of Things is another factor that is pushing progress (IIoT).
September - 2020 saw the introduction of new inductive sensors for explosion-protected zones from Balluff GmbH. These sensors have received clearance from CSA and are suitable for use in both the United States and Canada. The use of these enables the identification and location of objects in explosion-hazardous environments that also contain dust and gas atmospheres over the continent of North America. Form factors M12, M18, and M30 are all available for purchase for these.
August 2020 - Hans Turck GmbH and Co. Kg introduced the new Inductive safety sensors with two OSSD (output switching signal device) outputs. These new sensors enable wear-free position and range monitoring in safety-related applications, such as on presses, cranes, fairground machinery, or machines covers. The new product line consists of the flush-mountable threaded-barrel M12, M18, and M30 devices. Each of these threaded-barrel devices has a substantial guaranteed switch-on distance, a sturdy metal casing, and a wide temperature range that extends from -25 to 70 degrees Celsius.
July 2020 - ST Microelectronics, namely the high-accuracy proximity and range sensors developed by FlightSense, are facilitating social distancing and assisting in the prevention of disease transmission in the context of the ongoing worldwide pandemic. The sensors can also assist users in avoiding making contact with surfaces that are positioned in high-traffic areas. Examples of such surfaces include touchscreens that provide self-service, smart faucets, and push-button door openers. ToF sensing is able to identify and understand movements such as tapping and swiping for intelligent touchless human-machine interaction because of its speed and precision. FlightSense sensors are able to manage basic on or off control as well as recognise and interpret motions like these.
In March of 2020, TE Connectivity Ltd. announced that it has successfully completed its public buyout of First Sensor AG. TE has amassed a stake in First Sensor equal to 71.87% at this time. Because of this acquisition, TE connectivity will be able to offer a wider product base, which will support the growth strategy of both TE's sensor business and TE Connectivity as a whole. This product base will include innovative, market-leading sensors, connectors, and systems as well as best-in-class capabilities.