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Proximity Sensor Market Predicted to Reach US$ 8.80 Billion, Globally by 2033 at 6.5% CAGR | Future Market Insights, Inc.



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NEWARK, Del, May 25, 2023 (GLOBE NEWSWIRE) — In 2023, the proximity sensor market is likely to be worth US$ 4.69 billion. The market is expected to reach US$ 8.80 billion by 2033, at a CAGR of 6.5% during the forecast period. The rising demand for automation across many sectors is a key motivator. By detecting the presence or absence of items and allowing smooth and effective operations, proximity sensors are essential for enabling automation.

Additionally, the demand for proximity sensors is being driven by the increased attention being paid to improving worker safety and reducing accidents. The market for proximity sensors is also rising as Internet of Things (IoT) devices and smart technologies become more widely used since they allow proximity-based interactions and improve user experience.  

Despite having a growth trajectory, the proximity sensor market is constrained by several factors that limit its expansion. The high expense of cutting-edge proximity sensor technology is one key barrier. Some market sectors may find these sensors to be unaffordable due to the difficulty of producing and integrating them into other systems.

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Furthermore, the absence of uniform communication protocols across various proximity sensor technologies creates interoperability issues, impeding smooth integration and restraining market expansion. Additionally, certain proximity sensors may only apply to locations or industries due to their restricted detecting range, which makes it difficult for them to be widely adopted.  

Manufacturers, service providers, and new entrants have several chances to profit from the proximity sensor market. There is a sizable untapped market waiting to be explored with the growing usage of proximity sensors in developing technologies like driverless cars, augmented reality (AR), and virtual reality (VR).

Additionally, there are possibilities for innovation and the creation of small-footprint proximity sensor solutions due to the growing need for downsized and energy-efficient sensors. Additionally, the combination of proximity sensors with artificial intelligence (AI) and machine learning (ML) algorithms creates new opportunities for market participants by enabling enhanced capabilities including predictive maintenance, anomaly detection, and adaptive sensing. 

Key Takeaways from the Proximity Sensor Market: 

  • With a predicted market size of US$ 3.6 billion by 2033, the United States has a considerable share in the global proximity sensor industry.  
  • The market for proximity sensors in the United Kingdom is expected to reach US$ 559 million by the end of the forecast period, with a CAGR of 5.6% from 2023 to 2033.  
  • China is estimated to grow at a 7.4% CAGR from 2023 to 2033, with a projected market size of US$ 1.06 billion by 2032. 
  • The Japanese proximity sensors industry is expected to reach $856 million by the end of the forecast period, growing at a 5.9% CAGR between 2023 and 2033. 
  • The South Korean proximity sensors industry is expected to reach $494 million by the end of the forecast period, expanding at a 6.8% CAGR from 2023 to 2033. 
  • Inductive proximity sensors demonstrate great performance and dependability, making them the preferred option for a variety of applications, with a solid CAGR of 6.4%. 
  • Fixed-distance proximity sensors provide constant and precise detection within a specific range and have a great CAGR of 6.3%. 

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How are Key Players Revolutionizing the Proximity Sensor Industry? 

The proximity sensor industry is characterized by a highly competitive landscape, with several key players striving to maintain their position and capture a significant market share. These players invest heavily in research and development to innovate and stay ahead of the competition. Let’s take a closer look at the competitive landscape and the strategies adopted by the key players: 

  • Broadcom Inc.: Broadcom is a leading player in the Proximity Sensor market, offering a wide range of sensor solutions for various applications. The company focuses on continuous technological advancements, expanding its product portfolio to cater to diverse industries. Broadcom emphasizes collaboration with other industry leaders to create integrated solutions that enhance the performance and functionality of proximity sensors. 
  • IFM Electronic GmbH: IFM Electronic is a prominent player known for its innovative proximity sensor technologies. The company emphasizes customization and develops sensor solutions tailored to specific industry requirements. IFM Electronic also invests in building strong partnerships with system integrators and distributors to ensure a widespread market presence. 
  • Schneider Electric: Schneider Electric is a global leader in energy management and automation solutions, including proximity sensors. The company leverages its extensive industry expertise to offer comprehensive sensor solutions that integrate seamlessly with its automation systems. Schneider Electric focuses on providing value-added services, such as predictive maintenance and data analytics, to differentiate itself in the market. 

These proximity sensor companies are always striving to distinguish themselves via technology improvements, bespoke solutions, and value-added services. They also prioritize excellent relationships and collaborations to broaden their market reach. The proximity sensor sector is active and adaptable to changing industry needs, thanks to a competitive market driven by innovation.

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Segmentation Analysis of the Proximity Sensor Market

By Technology:

  • Inductive
  • Capacitive
  • Magnetic
  • Photoelectric
  • Ultrasonic

By Product Type:

  • Fixed Distance Proximity Sensor
  • Adjustable Distance Proximity Sensor

By Application:

  • Aerospace & Defense
  • Automotive
  • Industrial Manufacturing
  • Food & Beverage
  • Pharmaceuticals
  • Consumer Electronics
  • Building Automation

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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Table of Content (TOC):

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.8. PESTLE and Porter’s Analysis

3.9. Regulatory Landscape

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032

4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021

4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032

5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2017 to 2021

5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2022 to 2032

5.4. Y-o-Y Growth Trend Analysis By Technology, 2017 to 2021

5.5. Absolute $ Opportunity Analysis By Technology, 2022 to 2032

6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type

6.1. Introduction / Key Findings

6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2017 to 2021

6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2022 to 2032

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research




BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.

Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.” 
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
About Belgium
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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Savory & Partners: Digital Nomad Visas Sparking a Migration Boom




DUBAI, UAE, Dec. 9, 2023 /PRNewswire/ — The simplicity and lax requirements of digital nomad visas have made them easily accessible, and countries like Portugal and Spain, which have excellent infrastructure, great internet connection, and an outstanding standard of living, draw in more digital nomads by the day, according to experts at Dubai-headquartered citizenship and residency by investment advisors Savory and Partners.

A recent research quoted by the company estimates that there are 16.9 million digital nomads roaming the globe. This is a whopping 162% increase from 2019, just four years earlier.
As soon as Portugal introduced its digital nomad visa in October of 2022, the applications started pouring in. While the government hasn’t announced the number of applications it has received, Portugal’s Labour Minister did announce that the country approved 550 applications within the first six months.
Two months after launching its visa in September of 2021, Greece received 2,918 applications, approving an astonishing 1,693 applicants. The government is yet to release any new statistics, but going off that outstanding start it is safe to assume it is still garnering massive attention.
Germany also boasts impressive numbers, having issued a total of 3,638 visas in just one year since the introduction of its visa in 2018.
According to Residency Malta, the government branch responsible for the digital nomad visa, it has issued 1,041 visas to date, with an average approval rate of 78%.
Croatia, one of the first countries to introduce a pure digital nomad visa in early 2021 as a response to the rise in remote workers, has approved 680 applications, while 672 are still pending approval.
Not just Europe
“It’s not just Europe but even Barbados’ digital nomad visa, dubbed the Welcome Stamp, has been doing outstandingly well, receiving a total of 3,511 applications between 2020 and 2022”, a digital nomad specialist at Savory & Partners reports.
While digital nomads typically use visa-free access or visas to stay in countries for a few months at a time before moving on to the next, digital nomad visas provide a sense of comfort and stability that aligns perfectly with their lifestyle, giving them ample time to enjoy the country they are in before moving on to the next.
Unsurprising demand
The rapid growth in application numbers and the surging demand for digital nomad visas isn’t surprising. They are extremely simple to apply to, have fast processing times ranging from a few days to a couple of months, and they do not require any business establishment or investment.
Portugal’s digital nomad visa, for example, only requires applicants to prove a monthly income of €3,040 per month, while Spain’s visa has a lower threshold of just €2,160 per month.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.
With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company’s multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.
To know more about Savory & Partners, visit
For more information, please send an email to [email protected] can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.
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Robotic Lawn Mower Market to Reach $2.4 Billion, by 2032 at 10.9% CAGR: Allied Market Research




The increasing demand for smart appliances for garden maintenance by global consumers, along with the development of IOT enabled features is fueling the growth of the robotic lawn mower market.
WILMINGTON, Del., Dec. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Robotic Lawn Mower Market by Range (Low-Range Robotic Lawn Mower, Medium-Range Robotic Lawn Mower, and High-Range Robotic Lawn Mower), End User (Residential User and Commercial User), and Distribution Channel (Retail and Online): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global robotic lawn mower market size was valued at $838.5 million in 2022, and is projected to reach $2.4 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.

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Prime determinants of growth
The robotic lawn mower market is driven by factors such as increase in demand for automation, rise in advancements for technology, and increase in popularity of online platforms. However, the rise in regular maintenance and repair costs restricts market growth. Moreover, the increase in demand for rental robotic lawn mowers offers new opportunities in the coming years.
Report coverage & details:
Report Coverage
Forecast Period
Base Year
Market Size in 2022
$838.5 million
Market Size in 2032
$2.4 billion
10.9 %
No. of Pages in Report
Segments covered
Range, End User, Distribution Channel, and Region
Increase in demand for automation
Rise in advancements for technology
Reduction in the labor costs
Increase in demand for rental robotic lawn mowers
Growth in the adoption of internet of things
Declining Cost of Batteries/Fuel Cells
Less adoption in developing markets
Regular maintenance and repair costs
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The medium range robotic lawn mower segment to maintain its leadership status throughout the forecast period
Based on range, the medium range robotic lawn mower segment dominated the market in 2022 accounting for more than half of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the increase in residential and commercial spaces such as buildings, corporate spaces, sports centers, and public parks, which has fueled the requirement for medium range robotic lawn mowers.
The residential segment to maintain its leadership status throughout the forecast period
Based on end user, the residential segment dominated the market in 2022 accounting for less than three-fourths of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.7% from 2023 to 2032, owing to the increase in the demand for low and medium range robotic lawn mowers in the residential sector due to the increased requirement for lawn care and maintenance.
The retail segment to maintain its lead position during the forecast period
On the basis of the distribution channel, the retail segment dominated the market in 2022 accounting for less than half of the market share and is expected to maintain its dominance during the forecast period. The increased demand for ecologically friendly and sustainable robotic lawn mowers, which is being driven by the rising awareness of environmental challenges, is one of the main factors boosting retail sales.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The growing popularity in artificial intelligence for performing day-to-day activities with higher efficiency is among the primary factors driving the Europe robotic lawn mower market.
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Leading Market Players: –
Robert Bosch GmbHHusqvarna ABHonda Motor Co., Ltd.Zucchetti Centro Sistemi S.p.A.Stiga C S.a.r.l.Andreas Holding AG & Co. KGPositec Tool CorporationWiper S.R.L.Suzhou Cleva Electric Appliance Co., Ltd.Stanley Black & Decker, Inc.The report provides a detailed analysis of these key players in the robotic lawn mower market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Read More Trending “AMR Exclusive Insights:
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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