The global non-contact sensor market is expected to grow at a CAGR of 12% during the forecast period. The market is valued at US$ 173.2 billion as on 2022, and by 2032, the market is expected to reach a valuation of US$ 537.93 billion.
| Attributes | Value |
|---|---|
| Non-contact Sensor Market Value (2022) | US$ 173.2 billion |
| Non-contact Sensor Market Forecast Value (2032) | US$ 537.93 billion |
| Non-contact Sensor Market Expected CAGR (2022 to 2032) | 12% |
Sensor is a device or an element made for a purpose to detect an occurrence of any event or change in the environmental condition and if found, provide a corresponding output. In a broad sense, sensor is a transducer which intakes one kind of energy (mostly optical & electrical) to operate & gives different types of output.
Today sensors are being used in everyday life in every electronic product and with the advancement in technologies, the demand of instrumentation and automation has been increasing over the years and expected to grow further in the upcoming future with highest possible demand.
Non-contact sensors are capable of detecting changes in electro-magnetic field or in light within a particular range. Non-contact sensor have wide application area such as in industrial sector, consumer electronics, medical, automotive, security & defense and entertainment because of increasing use of process controls and sensing element in these sectors.
The consistent increasing demand of non-contact sensor market has continuously been increasing globally and expected to grow with CAGR in double digits & the same scenario might be seen for next six to seven years in global non-contact sensor market.
The surging white goods market is expected to increase the demand for non-contact sensors as these are used in the industry for calculating parameters like light intensity, heat, etc.
Moreover, advancements being made in technology in order to increase the efficiency of electronic devices are expected to surge the sales of non-contact sensors.
Additionally, the maintenance cost associated with non-contact sensors is very low. These make use of stationary parts, as a result of which the investors are ready to bear any initial cost.
Furthermore, the non-contact temperature sensors are used to find the temperature of the items, which are both solid and liquid in nature, which further enhances the scope of this market.
In areas like robotics, where equipment that operates at high speed is required, non-contact sensors have found numerous buyers. Thus, the non-contact sensor market is expanding at a rapid pace.
Furthermore, the growth of the autonomous vehicles market represents a huge scope for non-contact sensors. Autonomous vehicles make use of non-contact sensors in order to calculate parameters like speed, position, distance, etc., to give in-depth information. This might well increase the adoption of non-contact sensors during the forecast period.
Furthermore, the rapidly surging automation industry represents the way ahead for the market. An increased focus on minimum human interference is surging the application of non-contact sensors in the automation sector.
Apart from that, diverse applications in areas like chemical delivery systems, vacuum cleaners, etc., are also expected to increase the market share of non-contact sensors.
For last some years, demand for non-contact sensors have been increasing in the consumer electronics and automobile vehicle like cars, trucks, buses, which are coming out as new trends for non-contact sensor market.
The key growth drivers of global non-contact sensor market are increased adoption of non-contact sensors in various industries like healthcare, logistic, and defense, need for advanced security solutions in the automobiles, drastic rising demand of non-contact sensor in industrial applications in order to save energy, increased demand in military application for target detection as in drone and aircrafts are the drivers supporting the growth of global non-contact sensor market.
On the other hand high replacement as well as deployment cost, lack of privacy, lack of customization & its complexity are some of the restraints responsible to hinder the growth of global non-contact sensor market.
The key players of global non-contact sensor market are ABB LTD., Honeywell International Inc., Eaton, Baumer Customer Sensor & Technologies Inc.,Balluf Inc.Analog Devices Inc., Eaton Corporation Plc., Infineon Technologies AG, NXP Semiconductors, Emerson Process Management and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On a regional basis, the North American market is expected to be the market leader during the forecast period. The burgeoning consumer electronics industry, backed by massive technological advancements, is expected to drive the North American market during the forecast period. Apart from that, the presence of huge market players who are into non-contact sensors is also expected to drive market growth.
If we talk about the European market, the region is expected to showcase significant growth during the forecast period. The presence of a massive automobile industry in the region is expected to drive market growth.
Asia Pacific is expected to be the fastest-growing market. A huge electronics sector in the region, coupled with massive technological developments taking place there, is expected to drive the market.
Based on the type, the infrared sensors segment is expected to hold the highest market share. Thanks to the massive demand from the industrial sectors, this segment is expected to show massive growth during the forecast period. Its high quality and affordability are some of the major factors why the key players operating in the industrial sector are investing huge amounts.
for non-contact sensor is done on the basis of application, type and region.
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