Photoelectric Sensors Market Segmentation | Application Outlook | Product Benchmarking

Felton, Calif., USA, Jan. 28, 2021 — /EPR Network/ —

The global Photoelectric Sensors Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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.

Key Players:

• Autonics Corporation
• Balluff GmbH
• Eaton Corporation Plc
• IFM Electronic GmbH
• Keyence Corporation
• OMRON Corporation
• Panasonic Corporation
• Rockwell Automation Inc.
• Schneider Electric SE
• SICK AG

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Growth Drivers:

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.

Technology Outlook:

• Diffused
• Retro-Reflective
• Thru-Beam

End-use Outlook:

• Automotive
• Military & Aerospace
• Electronics & Semiconductor
• Packaging

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.

Regional Outlook:

Globally, Asia Pacific accounted for the largest market share of 35.0% in 2016 and estimated to lead the overall market in the coming years. Also, estimated to grow at highest CAGR of 7.0% between 2017 & 2025. The reason behind the overall market growth could be, rising use of enhanced technology, increasing permeation of IIoT across various industrial facilities, growing safety mandates.

Instead, North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. However, European market is estimated to grow at significant rate and could be accredited to cumulative strict guidelines for industrial automation in numerous industrial facilities in the region. Also, the Middle Eastern market is estimated to grow due to the growing oil and gas industries in the region.

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