Proximity Sensor Market by Technology (Inductive, Capacitive, Magnetic, Photoelectric/Optical, Ultrasonic), Product Type (Fixed distance, Adjustable distance), Range, Output, End-user Industry and Region - Global Forecast to 2030
The next-generation solar cell market size is valued at USD 3.0 billion in 2023 and is projected to reach USD 7.4 billion by 2028, growing at a CAGR of 19.5% during the forecast period from 2023 to 2028.
The global position sensor market is estimated to reach USD 19.02 billion in 2030 from USD 13.25 billion in 2025, at a CAGR of 7.5% during the forecast period.
The global immersive VR market size was valued at USD 10.1 billion in 2024 and is projected to reach USD 34.9 billion by 2029, growing at a CAGR of 28.0% from 2024 to 2029.
The global testing, inspection, and certification (TIC) industry size is expected to reach USD 280.6 billion by 2029 from USD 233.2 billion in 2024, at a CAGR of 3.8% during the forecast period.
The global lithium-ion battery industry size is expected to grow from USD 56.8 billion in 2023 to USD 187.1 billion by 2032, at a CAGR of 14.2% from 2023 to 2032.
The global medical electronics industry is expected to be valued at USD 11.1 billion in 2024 and is projected to reach USD 15.7 billion by 2029; it is expected to grow at a CAGR of 7.2% from 2024 to 2029.
The primary factor driving the silicon photonics industry growth is the focus on power consumption using silicon photonic-based transceivers. It is challenging to meet the ever-increasing demand for high-speed data transfer with conventional copper cables.
The global machine condition monitoring industry size is expected to grow from USD 3.1 billion in 2024 to USD 4.7 billion by 2029, at a CAGR of 8.3% from 2024 to 2029.
The Machine Safety industry is experiencing significant market growth fueled by automation advancements, stringent safety mandates, and heightened awareness of workplace safety, leading to a rising demand for advanced safety solutions and technologies.
The major factors driving the market growth of the SiC-on-insulator and other substrates market include the growing demand for 5G technology and the increasing popularity of electric vehicles.
Several factors are propelling the growth of the Sustainable manufacturing industry across diverse industries, including recycled materials, energy-efficient processes, and biobased materials. Regulatory policies, cost savings, and consumer demand for eco-friendly products drive the market for these offerings.
The growth in the RFID market can be attributed to the increasing demand for automation and real-time tracking across retail, logistics & warehousing, healthcare, and manufacturing industries.
The growing demand for contraband detection technologies for transportation applications is expected to play a vital role in the growth of the contraband detector industry.
The medical device testing industry is fueled by stringent regulatory requirements mandating comprehensive testing for device approval. Additionally, the increasing complexity and technological advancements in medical devices necessitate thorough testing for safety and efficacy.
The market growth is increase in broadband and mobile speeds and emergence of autonomous vehicles. Furthermore, rising use of V-band millimeter waves for last-mile connectivity is expected to create lucrative opportunities for the market.
The growing deployment of sensor nodes that are strategically placed throughout agricultural fields to gather real-time data, enhances the performance efficiency of sensors, which thereby drives the market growth of smart irrigation systems.
The Flow Battery is an energy storage system that has varying applications from utility, telecoms, commercial, industrial and military.
The growth of EMI shielding is being driven by the increasing complexity of electronic systems and the overriding imperative to prevent electromagnetic interference within high-performance environments.
The smart agriculture market is rapidly growing, driven by advancements in precision farming, IoT (Internet of Things) devices, AI-based analytics, and robotics.
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