Proximity Sensor Market Analysis

The global proximity sensor market is estimated to be valued at USD 4.5 Bn in 2024 and is expected to reach USD 9.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031. Proximity sensors find widespread applications in smartphones, tablets, laptops, wearable devices, automotive safety systems and industrial automation. They detect the presence of nearby objects without any physical contact and are mainly used for functions like auto-dimming and auto-brightness in devices.

The market is expected to witness significant growth due to increasing demand for proximity sensors from the consumer electronics and automotive industries. Growing concern for safety and increasing use of advanced driver-assistance systems (ADAS) features in vehicles will drive the automotive proximity sensor market. Moreover, the rising popularity of Internet of Things (IoT) and use of proximity sensors in various IoT applications will further support the market growth during the forecast period.