November 12, 2019 by Market-NewsFlash
Global Photoelectric Sensor Market Research Report: by Type (Thrubeam, Retroreflective, Diffuse Reflective, Focused Beam Reflective, Small Spot Definite Reflective, Fixed Distance, Others), by Beam Source (Laser Beam Source, Infrared (IR) Beam Source, LED Beam Source), by Industry (Consumer Electronics, Manufacturing, Automotive & Transportation, Food & Beverage, Healthcare/Life Science & Pharmaceuticals, Power & Utilities, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) — Forecast till 2025
Photoelectric sensors are being widely adopted in various industries such as packaging, manufacturing, and food & beverage. The increased need for production efficiency and rising adoption of industrial automation are some of the factors driving the growth of the global photoelectric sensor market. Thrubeam photoelectric sensors are typically the most widely used sensors for packaging and food & beverage processing. As laser beams possess features such as high intensity and shorter wavelength, these are visible from a distance as well. Photoelectric sensors that are often used for food packaging and manufacturing use a laser beam source for emitting light.
The market in Asia-Pacific is projected to maintain its dominance in the global photoelectric sensors market owing to the rapid adoption of digital technology in countries such as China, Taiwan, and South Korea. Moreover, the healthcare sector in this region has been thriving, which is further expected to fuel the adoption of photoelectric sensor-enabled products over the forecast period. The regional market is also expected to account for the highest CAGR over the forecast period as numerous established companies and new players have been investing in sensor manufacturing and advancement.
Global Photoelectric Sensor Market, USD Million
On the other hand, North America holds the second spot in the photoelectric sensor market. this is predominantly due to the rising adoption of smart homes and smart cities. These sensors are mainly used in linear positioning of material and give assurance of reliable operation in various areas of material handling and automation. In the manufacturing industry, photoelectric sensors are used to place the material for edging and cutting it in the right angle or based on the industrial requirement. The rapid rise of emerging economies, the requirement for low-cost manufacturing and demand for improved manufacturing, responsiveness, and efficiency are creating opportunities as well as challenges for the growth of photoelectric sensors market.
The key players in the photoelectric sensor market are identified across all the major regions based on their country of origin, presence across different regions, key developments, product diversification, and industry expertise. Some of them are Omron Corporation (Japan), Keyence Corporation (Japan), Sick AG (Germany), Schneider Electric SE (France), Panasonic Corporation (Japan), Rockwell Automation Inc. (US), Ifm Electronic GmbH (Germany), Pepperl+Fuchs (Germany), Balluff GmbH (Germany), Banner Engineering Corp (US), SensoPart Industriesensorik GmbH (Germany), HTM Sensors (US), Fargo Controls Inc (US), Leuze electronic GmbH + Co. KG (Germany), and wenglor sensoric GmbH (Germany). These players contribute significantly to market growth.
Apart from the top key players, the other players contribute nearly 35–40% in the photoelectric sensor market. These are Autonics Corporation (South Korea), Tri-Tronics (US), DoorKing Inc (US), Locon Sensor Systems Inc (US), DIS Sensors BV (Netherlands), Honeywell International Inc. (US), Contrinex AG (Switzerland), among others
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