Photoelectric Sensor Market Synopsis
Market Research Future (MRFR), in its report on the
Global Photoelectric Sensor Market 2020, mentions factors
that can cast significant impact on the market. In addition, a detailed report
on the analysis of COVID 19 pandemic on photoelectric sensor market is
provided. MRFR data shows that the photoelectric sensor market is likely to
thrive at 6.7% across the assessment period. The photoelectric sensor market
value can rise from USD 1,123.5 Mn to USD 1,728.4 Mn by the end of the review
period.
The increase in the application of photoelectric
sensors across various sectors, such as material handling, industrial
automation, packaging, and connected spaces can boost the expansion of the
market in the years to come. The rise in the adoption of industrial automation,
automated vehicles, robots, automated machines, and other smart devices is
rapidly replacing manual labor at factories and workplaces. This can impel the
rise of the photoelectric sensors market through the assessment period.
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The pressing demand for photoelectric sensors due to
rapid industrial automation can fuel the growth of the market in the near
future. The affordability of computer-aided control devices that support the
automation of different industrial processes, curbing human involvement, can
also promote the expansion of the photoelectric sensor market through the
review period. In addition, the seamless execution of multiple processes
operations in a controlled manner achieved by photoelectric sensors can support
the rise of the market.
Market Segmentation
The segment evaluation of the global photoelectric
sensor market is done by application, type, and beam source.
By type, the segments of the photoelectric sensor
market are diffuse reflective, retroreflective, thrubeam, small spot definite
reflective, focused beam reflective, fixed distance, and others.
By beam source, the market segments are infrared
(IR) beam source, laser beam source, and LED beam source.
By industry, the segmenst of the market are
manufacturing, consumer electronics, power & utilities, food &
beverage, healthcare/life science, automotive & transportation,
pharmaceuticals, and others
Regional Analysis
In APAC, the increase in the need for boosting
production capacity in less time, to achieve high quality products is pushing
the need for photoelectric sensors in different industries. This is expected to
drive the expansion of the regional market. In addition, the growing
tangibility of mega smart cities projects in the emerging economies of APAC can
support the rise of the photoelectric sensor market in the years to come. The
availability of high tech facilities in smart cities is significantly
increasing the demand for photoelectric sensors enabled smart devices, which
can impel the expansion of the photoelectric sensors market in APAC. In Europe,
smart cities offer different features such as, traffic management, remote
monitoring, and home automation. The growing preference for these facilities
can push the expansion of EU photoelectric sensor market through the review
period. In North America, the rise in need for meeting security concerns and
devices management can improve the expansion of the market through the review
period. Moreover, the rise of North America photosensitive sensor market can be
attributed to the high pace development of smart cities.
Key Players
Sick AG (Germany), wenglor sensoric GmbH (Germany),
Keyence Corporation (Japan), Pepperl+Fuchs (Germany), Autonics Corporation
(South Korea), Omron Corporation (Japan), Schneider Electric SE (France),
Rockwell Automation Inc. (US), Panasonic Corporation (Japan), ifm Electronic
GmbH (Germany), Banner Engineering Corp (US), Balluff GmbH (Germany), Contrinex
AG (Switzerland), SensoPart Industriesensorik GmbH (Germany), Fargo Controls
Inc (US), HTM Sensors (US),Leuze electronic GmbH + Co. KG (Germany),
Tri-Tronics (US), DoorKing Inc (US), DIS Sensors BV (Netherlands), Locon Sensor
Systems Inc (US), and Honeywell International Inc (US).
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