PR APAC Proximity And Displacement Sensors Market

Topics: Industry, Manufacturing, Mass production Pages: 2 (549 words) Published: July 15, 2015
Asia-Pacific Proximity & Displacement Sensors Market is Expected to Reach $1.8 Billion, by 2020 - ApacMarket.com According to a new report published by ApacMarket.com titled, “APAC Proximity & Displacement Sensors(China, Japan, India, South Korea, Australia) Market (Type, Application, End User and Country) – Analysis, Segmentation and Forecast, 2014–2020”, the Asia-Pacific proximity & displacement sensors market is expected to reach $1.8 billion by 2020, registering a CAGR of 10.2% during 2015–2020. Rising trend of factory and process automation in automobile and manufacturing industries is the major factor driving the market. China has emerged as the most promising country, attracting huge demand for proximity & displacement sensors by the end industrial applications. Since 2004, China has been the most popular region for industrialist to set up manufacturing plants. The market is witnessing huge implementation of automation across Indian industries. With such a high adoption, India is expected to show the highest growth rate for proximity and displacement sensors market. In addition to it, the recent hike in labor costs, high rate of inflation and rising issue of intellectual property protection are nowadays stimulating investors to look for market beyond China. Due to which, countries such as Indonesia, Thailand and Malaysia are becoming the center of attraction for industrial developments. Hence, the market for proximity & displacement sensors in these regions is expected to show high growth rate subsequent to India during the period of forecast 2015–2020. Despite these factors, China would continue its dominance over the market to reach $592.6 million by 2020, in terms of revenue generation for proximity & displacement sensors. Photoelectric and inductive sensors are captivating the largest degree of adoption rate in various industry applications. Reliability, adaptability and reasonable costing are the major characteristics of inductive and photoelectric...
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