Area Sensors Technologies to Witness Increased Adoption Considering Enhanced Automation in Industrial Operations - Persistence Market Research

NEW YORK, August 7, 2018 /PRNewswire/ --

Industries are rapidly using area sensors to streamline operations and enhance industrial efficiency.

Area sensors are proximity sensors used for positioning and detection of metal objects. Large industries have already been using area sensors for over a decade now. However, owing to innovations in the area sensing technology, area sensors are being rapidly adopted by small and medium enterprises. Used for streamlining operations, enhancing industrial automation, and changing manufacturing landscape, area sensing technologies are being increasingly adopted by industries, positively pushing the global area sensors market accounting for significant market value shares over the forecast period of 2018-2026.

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In a recently published report on the global area sensors market, Persistence Market Research delivers key insights and projects an attractive growth of the market. As per the market outlook, the global area sensors market is projected to grow at a robust CAGR of 6.0% in terms of value through 2026. The annual revenue from the area sensors market globally is likely to stand at a valuation of US$ 6,909.9 Mn by 2026. In terms of industry-wise adoption, the food packaging industry is estimated to represent the most attractive growth during the forecast period. Area sensors are being increasingly used in the packaging sector to enhance industrial efficiency, convenience, and precautions.

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The report also assays various drivers, restraints, opportunities, and trends likely to impact the market over the forecast period of 2018-2026. North America and Europe are expected to be the dominant regions in terms of market value & shipments of the Area Sensors market. However, during the forecast period, the market in SEA and other APAC is expected to overtake the market in Europe in terms of growth with a CAGR of 11.2%. Technological innovations in consumer electronics and automotive segment is likely to be responsible for high adoption of area sensors in these region, consequently attracting more investments from area sensor service providers in SEA and Other APAC region.