Photoelectric Sensor Market: Market Segments: By Type (Laser Photoelectric Sensor and Fiber Optics Photoelectric Sensor); By Technology (Through-Beam, Reflective, Diffuse); By Application (Automotive, Military & Aerospace, Electronics & Semiconductor, Packaging); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Photoelectric sensors are sensors used to detect an object’s colour and distance. These sensors are location sensors that use diodes that emit light as the source of light. The sensor operates on the theory that light is transmitted to an object from the sensor, after which the light is again reflected back to the photoelectric sensor. The sensor is able to measure the distance the target is away from it based on the time it took for the light beam to reach the object and be reflected back.
Photoelectric Sensor Market is expected to project a notable CAGR of 7.12% in 2030.
Photoelectric Sensor Market to surpass USD 47.2 billion by 2030 from USD 1.35 billion in 2018 at a CAGR of 7.12% throughout the forecast period, i.e., 2019-30. In the manufacturing, packaging and material handling industries, these sensors are used to perform functions such as the identification of transparent bottles, product presence monitoring, wafer detection in the vacuum conveyor system, and conveyor positioning control monitoring. They also improve the quality of processes, minimise process time and increase productivity.
Photoelectric Sensor Market: Segments
Fiber Optics Photoelectric Sensor segment to grow with the highest CAGR of 5.15% during 2019-30
Photoelectric Sensor Market is segmented by product type as Laser Photoelectric Sensor and Fiber Optics Photoelectric Sensor. The greater market share in 2018 was accounted by the fiber optics segment held the largest share of the photoelectric sensor market, and this trend is projected to prevail during the forecast period. The growth of the retro-reflective segment can be due to the increasing use of photoelectric retro-reflective sensors in industrial and pharmaceutical manufacturing and in medical applications.
Photoelectric Sensor Market: Market Dynamics
Rising Adoption of Industrial Automation
Increasing automation across industries involving advanced technology and automated process control devices has improved manufacturing companies’ productivity, fostering high growth in the demand for photoelectric sensors. Via various optical properties, these sensors are used to detect objects, distance, and surface conditions, which has subsequently increased their usage in many industries.
Competent Alternative Technologies
The cost involved in the installation process is one of the barriers affecting the photoelectric sensor industry. Such sensors typically have high maintenance costs that hinder market development. For example, cars are expected to work in various atmospheric environments, which can vary from difference in altitude, coast to desert environment, cold and summer climate conditions, and varying humidity, thereby contributing more to the cost of maintaining usability in different conditions.
Photoelectric Sensor Market: Regions
Photoelectric Sensor Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Photoelectric Sensor Market in Asia Pacific held the largest market share of XX.X% in the year 2018. Market growth in this area can be attributed to the increased demand for automation solutions from the automotive and transportation industries, industrial manufacturing, food and beverage, and photoelectric sensor packaging applications. In addition, the growing demand for nanotechnology has generated considerable opportunities for the APAC photoelectric sensor market to expand. The market is expected to grow in this area with the growing use of automated systems in sectors such as commercial electronics. Due to the presence of market players, manufacturers, and the high adoption of these sensors for industrial automation, the European photoelectric sensor market is expected to grow at a rapid pace during the forecast period. The incorporation of sensor technology propels the demand with the rise of urbanization.
Photoelectric Sensor Market: Key Players
• Omron Corporation
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Keyence Corporation
• Schneider Electric SE
• Sick AG
• Panasonic Corporation
• Rockwell Automation Inc.
• Pepperl + Fuchs
• Sensopart Industriesensorik
• Banner Engineering
• HTM Sensors
• Fargo Controls
• Leuze Electronic
• Cntd Electric Technology
Photoelectric Sensor Market report also contains analysis on:
Photoelectric Sensor Market Segments:
• Laser Photoelectric Sensor
• Fiber Optics Photoelectric Sensor
• Military & Aerospace
• Electronics & Semiconductor
• Photoelectric Sensor Market Dynamics
• Photoelectric Sensor Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints