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Global Distance Measurement Sensors Market Analysis & Trends - Industry Forecast to 2028

Global Distance Measurement Sensors Market Analysis & Trends - Industry Forecast to 2028

  • July 2021
  • 139 pages
  • ID: 5730367
  • Format: PDF
  • Accuray Research LLP


Table of Contents

Distance Measurement Sensors: Market Size

From $2.64 billion in 2020, the global Distance Measurement Sensors market is projected to reach $3.62 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 4.0% from 2020 - 2028 timeframe.

Some of the prominent trends that the market is witnessing include the rising need for advanced security solutions in the automobiles, increasing need for automation for rapid production, and the growing demand for distance measurement sensors in construction industries.

Global Distance Measurement Sensors Market: Market Dynamics

Distance measurement sensors have been included in automobile vehicles like trucks, buses 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 the distance measurement sensor market. The key growth drivers of the global distance measurement sensor market are improved adoption of distance measurement sensors in automation and robotics, increased demand in a military application for target detection as in drones and aircrafts.

Dual mode laser measurement sensors are being used for several distance measurement applications in industrial applications. These sensors do not simply feature distance measurement but also detect the alterations in the intensity of light, which allows the parent system to detect even clear or transparent objects which conventional ones miss. Furthermore, distance measurement sensors are being incorporated with IO-link communication interface featuring bidirectional exchange of data.

On the other hand, high maintenance costs of contact sensors are likely to obstruct the profit boundaries. In addition, rising need for automation for rapid production and supply of sensors will further boost the distance measurement sensors market.

Impact of COVID-19 on Distance Measurement Sensors

COVID-19 pandemic has been affecting economies and industries in different countries owing to lockdowns, travel bans, and business shutdowns. The shutdown of different plants and factories has affected the global supply chains and harmfully impacted the manufacturing, delivery schedules, and sales of products in the global market. Few companies have already declared possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships opportunities. The distance measurement sensors market is also negatively affected due to the pandemic owing to the shutdown of manufacturing units and considerable decline in demand.

By Sensing Technology

Ultrasonic Sensors Segment Dominate the Market in 2020

The ultrasonic sensors segment made huge revenue in 2020 and growing its prominence during the forecast period. Ultrasonic sensors can effectively measure different parameters, such as position, presence, and level of an object in a medium. Ultrasonic sensors can be largely classified into - measurement, detection, and destruction of objects. Ultrasonic sensors can also be utilized for the non-destructive evaluation of objects, together with the inspection and quantitative testing of industrial structures and health monitoring of old buildings.

By Geography

North America Region is Leading in the Global Market Place

North America is likely to have a huge demand in the forecast period owing to the high applications of ultrasonic distance measurement and optical distance measurement. Due to the presence of several industries, there is a constant increase in the requirement for the sensors & lasers in North America. The penetration of the market is quite high in this region; the presence of some automotive and manufacturing giants is a vital growth causing factor.

List of the Key Players Profiled in the Market Include:

• TR Electronics
• Telemecanique Sensors
• Sick AG
• Sharp Corporation
• Sensopart Industriessensorik GmbH
• Pepperl+Fuchs GmbH
• Omron Corporation
• Micro-Epsilon
• Measurement Specialties Inc
• Leuze Electronic Gmbh
• Keyence Corporation
• Impress Sensors And Systems
• Ifm Electronic Gmbh
• Honeywell
• Eaton
• Dimetrix AG
• Datalogic
• Baumer
• Banner Engineering Corp
• Balluf Inc

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others

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