, January 08, 2018 ) Canada Proximity Sensor market
is expected to reach USD 0.74 Billion in 2024 from USD 0.41 Billion in 2017 at a CAGR of 0.76%.
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.
China Proximity Sensor Market: https://www.envisioninteligence.com/industry-report/china-proximity-sensors-market/
India Proximity Sensor Market: https://www.envisioninteligence.com/industry-report/india-proximity-sensors-market/
The Canada held the largest share in the market in 2017
As a result of evolving technology, Canada held the largest share in the market in 2017 owing to increased usage of sensors in automotive and consumer electronics industries. Canada is anticipated to hold significant shares in the market during the forecast period owing to the increased funds for usage of proximity sensors in various end-user applications. The crucial players in the Proximity Sensor market include GE, Honeywell International Inc., Panasonic Corporation, Fargo Controls, Omron.
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