Market Size of Europe Proximity Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.81 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Proximity Sensors Market Analysis
The Europe proximity sensor market is expected to grow at a CAGR of 5.81% during the forecast period. The rise in the automation of complex production systems led to an increase in the demand for components, which are proficient in providing important data regarding the production process thus boosting the proximity sensor in Europe.
- The ability of proximity sensors to work in hazardous conditions, such as extreme humidity and temperature, as well as in chemical processing applications, aided the growth of the proximity sensors market. For instance, SICK AG offers Inductive Proximity sensors, which are used in almost every area of factory and logistics automation. From cylindrical and rectangular standard sensors to special sensors for explosive zones and harsh environments, these sensors provide an intelligent, reliable route in implementing industry-specific and customized solutions to any automation scheme.
- The increasing cost of labor, combined with the immense pressure on manufacturers to meet the deadlines, has resulted in an increase of automation in factories across Europe. The rising number of warehouses and increasing investments in warehouse automation, coupled with the rise in labor costs and availability of scalable technological solutions in Europe, have been driving the market for warehouse robots across the European countries and demand for proximity sensors.
- For instance, in September 2019, ThyssenKrupp Materials Services, the distribution and service provider of the ThyssenKrupp Group, revealed its plan the to invest EUR 70 million to modernize the existing a state-of-the-art logistics center and expand by new warehouses in Germany, Poland and Hungary.
- Moreover, adoption of home automation and consumer convenience devices such as smart thermostats, smart light bulbs, smart security cameras, smart air conditioners, smart door locks, smart plugs, smart speakers, etc., are driving the demand for smart sensing technologies which utilize proximity sensors. As homes are becoming dependent on smart technologies, smart appliances with non-contact sensing technologies may be favored to support future smart home infrastructure. For instance, Philips's smart bulbs for indoor and outdoor lighting uses proximity sensor.
