Proximity And Displacement Sensors Market Size, Share & Trends Analysis growing at a CAGR of 9.1% from 2024 to 2030
The global proximity and displacement sensors market size was valued at USD 6.82 billion in 2023 and is projected to grow at a CAGR of 9.1% from 2024 to 2030. Ongoing trend of process automation in factories, ongoing expansion of the mobile industry, and growing demand for automated processes in the industrial sector are the factors driving the market.
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One of the primary drivers for market growth remain the increasing demand for factory automation and process automation. The ongoing trend of process automation in factories is a major contributor to this growth, as manufacturers seek to improve their production efficiency and recover from economic downturns. Moreover, the growth in industrial automation has also been driving the demand for proximity and displacement sensors, as companies look to automate various industrial processes to reduce costs and improve productivity.
Another significant driver of the market is the expansion of the mobile devices market. The growing popularity of contactless sensing applications, such as fingerprint recognition and gesture-based interfaces, is expected to drive the demand for proximity and displacement sensors globally. Furthermore, the increasing interest of automobile manufacturers in integrating sensor technology in automotive security and infotainment systems is also driving market growth. The declining prices of sensors, which are a result of improvement in electronic technology, economies of scale, and manufacturing in low-cost regions, are also expected to drive market growth exponentially.
The market is also driven by emerging trends and applications, including emerging concepts of smart homes and growing applications in healthcare. The proximity and displacement sensor market is poised to benefit from these emerging trends, which are expected to drive growth in various industries. Overall, the proximity and displacement sensors market is driven by a combination of factors, including factory automation, mobile devices, declining sensor prices, and emerging trends and applications. As these drivers continue to shape the market, it is expected to experience significant growth over the coming years.
Type Insights
LVDT sensors accounted for the largest market revenue share of 16.0% in 2023. The LVDT sensor excels in measuring linear displacement with high accuracy and performance, ideal for applications requiring precise positioning control. Its non-contact design eliminates wear and tear, allowing for a long operational lifespan and robust operation in extreme temperatures and vibration/shock conditions, making it a suitable choice for industrial automation applications.
Capacitive sensors are expected to register the fastest CAGR of 10.9% during the forecast period. Capacitive sensors excel in detecting subtle changes in capacitance caused by object presence, making them ideal for high-precision applications such as touchscreens, motion detection, and near-field sensing. With high resolution capabilities, particularly for short distances, they are suitable for measuring liquid levels and monitoring micromanipulation processes, offering accurate and reliable performance in a range of industries.
