North Amercia Proximity Sensor Market Size

North America Proximity Sensors Market Analysis

The North America proximity sensor market is expected to grow at a CAGR of 5.62% during the forecast period. One of the major trends witnessed in the North America region is sustained growth in the adoption of industrial automation which is expected to drive the studied market.

• Dependence on robots in industrial controller mechanisms is currently an established trend, paving the way for larger and wider adoption of industrial control and industrial automation equipment. Material handling is one of the fastest-growing application markets for proximity sensors in the region. As proximity sensors are typically attached to material handling equipment (MHE), such as forklifts, and activate a signal when an entity (a person or other MHE) is detected, the growth of material handling equipment, especially the automated ones, is boosting the growth of the market
• Connected vehicles and autonomous vehicles are key developments in the automotive industry in North America. Economic developments increase per capita income of consumers, thereby, increasing their standard of living. An increase in demand for luxury and comfort vehicles can be attributed to the rise in per capita income, which is another factor fueling the demand for autonomous vehicles.
• The supportive government initiatives and policies for the self-driving technology have enabled the adoption of connected and autonomous vehicles. The region is also witnessing numerous collaborations and partnerships for the testing and adoption of the technology.
• In addition to that, established manufacturers are increasingly collaborating with start-ups to acquire the autonomous technology. Furthermore, companies are also collaborating with various service providers to test the viability of autonomous cars. In 2018, Ford Motor Company partnered with Walmart Inc. to test self-driving cars for consumer goods and grocery delivery. Vehicles incorporating AEB, ADAS, FCW, and PAS systems are driving the market for automotive proximity sensors.
• With the increasing usage of cars across the region, the demand for smart parking is also growing. Thus, parking industry in North America is rapidly moving toward smart technologies and leading to adoption of high-end automation and parking reservation solutions which are getting integrated into the many mobility solutions and hence contributing to the growth of the market.
• In April 2020, Bluetooth location beacon startup Estimote Inc developed a new product designed specifically for curbing the spread of COVID-19. The devices, called the 'Proof of Health' wearables, aim to provide contact tracing at the level of a local workplace facility. The hardware includes passive GPS location tracking, as well as proximity sensors powered by Bluetooth and ultra-wide-band radio connectivity, a rechargeable battery and built-in LTE.