Photoelectric Sensors Market Size, Share and Growth Forecast by Regions 2020-2025

Posted on 2020-09-03 by researchinsights in Electronics // 0 Comments

03rd Sept 2020 – Global Photoelectric Sensors Market size is expected to reach USD 2.09 billion by 2025 with a CAGR of 6.1%, as the scope and its applications are rising enormously across the globe. The photoelectric sensor is also termed as photo eye an instrument that detects objects, variations in surface conditions, and other substances through a multiplicity of optical properties. A photoelectric sensor emits an infrared or visible light beam from its light emitting element and is received by the light receiving element.

This technology is a perfect alternative to inductive proximity sensors. These sensors can be simply merged into an endless array of applications. These sensors consist of various components like phototransistor/photodiode receiver to detect the light source, emitter as a laser diode or LED, and supporting electronics to amplify the signal relayed from the receiver. Rising demand from industrial sector for detecting position misalignments and growing adoption of digital network technology are documented as major factors of Photoelectric Sensors Market that are estimated to enhance the growth in the years to come. However, lack of sensing capability and photoelectric beam may be affected by fog, smoke, and dust are the factors that may restrain overall market growth in the coming years.

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Photoelectric Sensor Market is segmented based on type, technology, end use, and region. Various types of Photoelectric Sensors like Fiber optic photoelectric sensors, Proximity photoelectric sensor, and others could be explored in the future period. Proximity photoelectric sensor sector accounted for the largest market share of Photoelectric Sensors in terms of revenue and is estimated to lead the overall market in the future period. This may be because of low in cost and extensive application scope.

Thru-beam, diffused, and retro-reflective are enhanced technologies used, that could be explored in Photoelectric Sensor in the forecast period. The retro-reflective sector accounted for the largest market share of Photoelectric Sensors and is estimated to continue its dominance in the coming years. This may be because of low installation and maintenance cost and reliable for detecting transparent objects. Also, thru-beam sector is estimated to grow at highest CAGR of 5.0% in the coming years, as allows stable operations.

The market may be categorized based on end use like packaging, automotive, electronics & semiconductor, military & aerospace, and others could be explored in Photoelectric Sensors in the forecast period. The automotive segment accounted for the largest market share in 2016 and is estimated to remain dominant in the upcoming years. This may be because of rising use of these sensors in various automotive applications like sensing shiny objects, allowing enhanced electronic power steering systems, and sensing automobiles in parking lots. In addition, packaging sector is estimated to grow at highest CAGR in the coming years. The reason behind the growth could be growing automation.

The key players of Photoelectric Sensors Industry are Schneider Electric SE, Panasonic Corporation, Autonics Corporation, Keyence Corporation, and Rockwell Automation Inc. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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Photoelectric Sensors Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
China
India
Japan
Central & South America
Brazil
Mexico
Middle East & Africa

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