In 2022, the distance measurement sensor market is anticipated to be worth US$ 2.86 billion in terms of revenue in the year 2022. The market is projected to expand at a CAGR of 4% to reach a market size of US$ 4.23 billion by 2032.
A sensor is an item or gadget created with the intention of detecting any event or change in the environment and, if discovered, producing an appropriate output. In general, a sensor is a transducer that receives one type of energy (often optical and electrical) to operate and produces various types of output. Since sensors are now a common feature of every electronic product, the need for instrumentation and automation has been rising over time and is predicted to continue to rise in the near future with the maximum potential demand.
One such product from this category is the distance measurement sensor. As the name itself defines that it is used in detecting or tracing the distance between two objects. In the present days, a sensor with high sensitivity is more preferred, the term sensitivity is used to find out the quality or the accuracy of the sensor.
Currently, the distance measurement sensors are the combination of different technologies as ultrasonic, optical, capacitive, inductive and many more, selection of sensors are done as per the requirements which is usually based on the application, need for the accuracy, cost, size, distance of operation and life time. As for the short distance measurement application, proximity sensors are more suitable, LASER distance sensors are used for the application of long distance measurement purpose.
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The consistent increasing demand of distance measurement sensor market has continuously been increasing globally and expected to grow with CAGR in double digits & the same scenario might be seen for next six to seven years in global distance measurement sensor market.
Distance Measurement Sensor: Market Dynamics
For last some years distance measurement sensors have been integrated in the automobile vehicle like Cars, trucks, buses in order to provide the information of the surrounding of the vehicle to the driver which increases the safety factor and hence it is coming out as a new trend for distance measurement sensor market. The key growth drivers of global distance measurement sensor market are increased adoption of distance measurement sensors in automation and robotics, need for advanced security solutions in the automobiles, drastic rising demand of distance measurement sensor in construction industries to trace the distance in various applications, increased demand in military application for target detection as in drone and aircrafts are some other drivers support the growth of this market. On the other hand high sensitivity towards environmental factors affects its accuracy, as the accuracy of ultrasonic sensors reduces in high noisy environment & accuracy of proximity sensor decreases in brighter environment.
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Distance Measurement Sensor: Segmentation
Segmentation of distance measurement sensor market is done on the basis of technology, operation type, applications& geography. Based on the technology, segmentation of distance measurement sensor is done as infra-red led, capacitive sensor, inductive sensor, ultrasonic, laser diode, photo electric, draw wire, image sensor & others. On the basis of operational type distance measurement sensor is segmented as time of flight, LASER triangulation, confocal chromatic imaging & photoelectric sensor. Further photoelectric sensor segments is sub segmented into retro-reflective, diffuse reflection sensing & through beam sensing,
By application type distance measurement sensor is segmented into following segments such as; manufacturing, robotics, defense aerospace & intelligence, automatic identification, packaging, consumer electronics, automobiles and others.
Geographically, distance measurement sensor is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA). Among all the regions Asia Pacific is the highest contributor in term of revenue in global distance measurement sensor
Distance Measurement Sensor: Key Players
The key players of global distance measurement sensor market are Honeywell International Inc., Eaton, Balluf Inc., Baumer & others.
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