Expanding Application Areas Drives the Global Market for Proximity and Displacement Sensors, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Proximity and Displacement Sensors markets. Global market for Proximity and Displacement Sensors is projected to reach US$2.8 billion by 2018, driven by technology advancements, expanding application areas, and increasing demand in developing nations.

Proximity and Displacement Sensors: A Global Strategic Business Report

Follow us on LinkedIn – Position sensing is a ubiquitous need in everyday applications. From providing position feedback for accurate control of down-hole drilling equipment, to providing position and altitude measurement data for satellites to offering position data for efficient functioning of engine systems in automobiles, position sensors represent an important measuring technology. As types of position sensors, proximity and displacement sensors find application in every imaginable system that requires position measurement, especially so in machine tools and plant automation control wherein precise positioning is critical. Given the mission critical uses of proximity and displacement sensors, key variables for product success in the marketplace include reliability, accuracy, durability, and superior cost to benefit advantages. In addition to robust product solutions, manufacturers of proximity and displacements sensors are increasingly focusing on providing cutting edge technical support as a major differentiating factor in the marketplace. As competition intensifies and prices come under pressure, the importance of providing superior customer service and support to earn repeat customers and to build customer loyalty can no longer be undermined.

In the automotive industry, the increasing adoption of driver assistance systems like collision warning systems, park assist technology, and non-contact hands free control systems/interfaces, is poised to provide lucrative opportunities for proximity sensors. The market stands to benefit from the increasing use of ultrasonic proximity sensors in front and rear bumpers to give advanced collision warning alerts. Given its efficiency in sensing object presence and position when compared to its counterparts such as mechanical switches, auto OEM adoption of these sensors is growing. Proximity sensors are also being used in park assist systems and in dashboard control panels for a non-contact human machine interface. With a growing number of automotive OEMs integrating collision warning systems and park assist systems as factory fitted features in a car, the healthy increase in automobile production is poised to translate into increased demand for proximity sensors.

The growing trend towards attaching strategic significance to machine condition monitoring in manufacturing and process industries is also benefiting demand for proximity sensors. As a sensor designed to measure the nature of displacement, proximity sensors are vital for machine monitoring as they continuously and accurately track machine movement (i.e. position of a rotating shaft), allowing for easy identification of defects in machine functioning. With plant assets increasingly being likened to “working capital” of companies, asset health management, condition management, predictive and proactive maintenance strategies are waxing in popularity. The current tanking of developed countries and the taut economic climate, interestingly, is amplifying demand for machine condition monitoring equipment, given its potential to reduce instances of unplanned maintenance. Unplanned maintenance, for instance, have the potential to increase costs by disrupting production schedules and triggering collateral damage across the company’s entire production line, and time to market capabilities.

In the United States, fragile manufacturing Purchasing Managers' Index (PMI) has demand for industrial proximity and displacement sensors walking the tight rope. Market prospects in this space are largely tied to the performance of the manufacturing sector, which continues to remain tense with uncertainty on the debt ceiling, delayed budget cuts, and a possible risk of another downgrade to US debt still looming high as major disruptive forces. The sector’s PMI index rose marginally to 50.2 points in December 2012 and to an encouraging 53.1 points in January 2013, indicating a possibly good start for the 1st quarter of 2013. The increase in manufacturing in January 2013 was the result of the first round of fiscal cliff deal that lifted the uncertainty on consumer taxes, not surprisingly since middle class spending is what is currently driving growth and recovery in the economy. However, with the government’s spending budget and sequestration cuts still hanging fire, the uncertainty is only partially removed and manufacturing still remains fragile. In other words, despite the promising improvement in the country’s manufacturing sector, recovery still remains weak and unpredictable with end-users still cautious about making capital commitments in machinery purchases. This is mirrored in the lukewarm interest in high-dollar purchases in the manufacturing industry.

As stated by the new market research report on Proximity and Displacement Sensors, Europe continues to remain the largest regional market worldwide. Asia-Pacific represents the fastest growing regional market with sales poised to grow at a CAGR of about 8.9% over the analysis period.

Major players in the global marketplace include Balluff GMBH, Continental AG, Eaton Corporation, IFM Efector GMBH, Kaman Precision Products, Keyence Corporation, Lion Precision Inc., Maxim Integrated Products, Inc., Micro-Epsilon UK Ltd., Micron Optics, Inc., Panasonic Corporation, Pepperl+Fuchs, Schneider Electric, SICK AG, Sharp Corporation, Standex-Meder Electronics Inc., OMRON, and Turck Inc., among others.

The research report titled “Proximity and Displacement Sensors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, Latin America and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Proximity_and_Displacement_Sensors_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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