Magnetic Proximity Sensor Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The magnetic proximity sensor market is anticipated to register a CAGR of 6.9% during the forecast period. The increase in the trend of automation is expected to drive the market. Magnetic proximity sensors detect permanent magnets. These sensors can detect magnets through non-ferrous metal, stainless steel, aluminum, plastic, or wood walls, as magnetic fields can penetrate all non-magnetizable materials.
Key HighlightsThe market is significantly fragmented as there are several large and small players offering solutions. Some of the major players include General Electric, Eaton Corporation PLC, Rockwell Automation Inc., Omron Corporation, Panasonic Corporation, NXP Semiconductors NV, Honeywell International Inc., and Turck Inc.
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