North America Proximity Sensor Market - Segmented by Technology (Inductive, Capacitive, Photoelectric), End-user Industry (Aerospace & Defense, Automotive, Industrial), and Region - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
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.
Key HighlightsThe North America proximity sensor market is concentrated due to higher initial investments. It is dominated by a few major players like Rockwell Automation Inc., Honeywell International Inc., Turck, Inc., Analog Devices, Inc., and Avago Technologies Inc. These significant players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are growing their market presence by securing new contracts and tapping new markets.
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