Technology

Proximity sensors market to reach $6B by 2028

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March 4, 2021

The proximity sensors market will grow from $3.68 billion in 2020 to $6.41 billion by 2028, according to a report by Verified Market Research.

During the forecasted period, the market is also expected to grow at a compound annual growth rate of 7.18% from 2021 to 2028.

The primary drivers of growth in the market are the demand for sensors in consumer products, increasing process automation and growth in the tablet and smartphone markets, according to the report.