Global Inductive Proximity Sensors Market to Reach $2.3 Billion by 2026

SAN FRANCISCO, June 27, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Inductive Proximity Sensors - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 8; Released: January 2022Executive Pool: 5013Companies: 42 - Players covered include Autonics Corporation; Balluff GmbH; Baumer Group; Datalogic SpA; Delta Electronics, Inc.; Eaton Corporation PLC; Euchner-USA, Inc; Fargo Controls, Inc.; Hans Turck GmbH & Co. KG; Honeywell International, Inc.; K.A. Schmersal GmbH & Co. KG; Keyence Corporation; Omron Corporation; Panasonic Corporation; Pepperl+Fuchs GmbH; Riko Opto-Electronics Technology Co., Ltd.; Rockwell Automation, Inc.; SICK AG and Others.Coverage: All major geographies and key segmentsSegments: End-Use (Consumer Electronics, Industrial Automation, Automotive, Aerospace & Defense, Pharmaceutical, Packaging, Other End-Uses)Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Inductive Proximity Sensors Market to Reach $2.3 Billion by 2026Amid the COVID-19 crisis, the global market for Inductive Proximity Sensors estimated at US$1.4 Billion, is projected to reach a revised size of US$2.3 Billion by 2026, growing at a CAGR of 8.2% over the analysis period. Consumer Electronics, one of the segments analyzed in the report, is projected to record a 8.8% CAGR and reach US$202.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial Automation segment is readjusted to a revised 10% CAGR for the next 7-year period.

The U.S. Market is Estimated at $411.4 Million in 2021, While China is Forecast to Reach $506.6 Million by 2026The Inductive Proximity Sensors market in the U.S. is estimated at US$411.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$506.6 Million by the year 2026 trailing a CAGR of 12.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 7.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.

Automotive Segment to Reach US$506.9 Million by the year 2026In the global Automotive segment, USA, Canada, Japan, China and Europe will drive the 7.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$241.4 Million will reach a projected size of US$392.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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