--Fargo Controls Inc., General Electric Co., and Honeywell International Inc. will emerge as major proximity sensors market participants during 2020-2024
The proximity sensors market is expected to grow by USD 1.09 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the proximity sensors market in optimistic, probable, and pessimistic forecast scenarios.
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The proximity sensors market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.
This post-pandemic business planning research will aid clients to:
Adjust their strategic planning to move ahead once business stability kicks in. Build Resilience by making effective resource and investment choices for individual business units, products, and service lines. Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds Pre- as well as post-COVID-19 market estimates Quarterly impact analysis and updates on market estimates
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Major Three Proximity Sensors Market Participants:
Fargo Controls Inc.
Fargo Controls Inc. operates its business through segments such as Proximity sensors, Counters & Ratemeters, Timers, and Controls. The company offers a range of proximity sensors such as inductive, capacitive, magnetic, photoelectric, value line proximity sensors.
General Electric Co.
General Electric Co. operates its business through segments such as Power, Renewable energy, Aviation, and Healthcare. The company offers a wide range of proximity sensor such as 3300 XL 8 mm proximity transducer system, 3300 XL 11 mm proximity transducer system, 3300 XL ceramic capped probe, 3300 XL NSv proximity transducer system, Bently Nevada 3300 XL series proximitor system, Bently Nevada 3300 proximitor sensor system, 3300 XL 25 mm proximity transducer system, 3300 XL 50mm proximity system, and PROXPAC XL proximity transducer assembly.
Honeywell International Inc.
Honeywell International Inc. operates its business through segments such as Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers a wide range of proximity sensors such as RDS80004 Series, 100 FW Series, 21 FW Series, 922 series proximity sensors, M12 proximity sensors, M18 proximity sensors, and M30 proximity sensors.
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Proximity Sensors Market 2020-2024: Segmentation
Proximity sensors market is segmented as below:
Product Photoelectric Inductive Capacitive Magnetic Ultrasonic Application Automotive Industrial Manufacturing Consumer Electronics Building Automation Others Geography North America APAC Europe South America MEA
The proximity sensors market is driven by Increasing awareness of monitoring and safety systems in automobiles. In addition, other factors such as the growing elevators and escalators market are expected to trigger the proximity sensors market toward an accelerating CAGR of almost 5% during the forecast period.
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Vendors covered Vendor classification Market positioning of vendors Competitive scenario
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