New York, NY, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Photoelectric Sensors Market By Technology (Retro-Reflective, Through-Beam, and Reflective), By Structure (Built-In Amplifier, Separate Amplifier, Built-In Power Supply, and Fiber Type), By Beam Source (Standard and Laser), By Range (=100 mm, >100–1,000 mm, >1,000–10,000 mm, and >10,000 mm), and By End-Use (Industrial Manufacturing, Consumer Electronics, Building Automation, Automotive & Transportation, Pharmaceuticals & Medical, Food & Beverages, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global photoelectric sensors market was USD 1,374 million in 2018 and is expected to reach approximately USD 2,205 million by 2025, growing at a CAGR of slightly above 7.1% between 2019 and 2025.
A sensor that emits a visible or infrared light beam from an assembled light-emitting element is called a photoelectric sensor. It is mainly used for detecting photo-optical applications.
Browse through 88 Tables & 40 Figures spread over 220 Pages and in-depth TOC on “Global Photoelectric Sensors Market Size & Share 2018: By Technology, Structure, Industry Type, Trends, Analysis, and Forecast to 2025”.
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The prominent factor propelling the photoelectric sensors market is its functionality of facilitating both short- and long-range detection. Unlike conventional switches, these sensors possess are less prone to wear and tear. The rising penetration of photoelectric sensors is due to its capability to detect any type of materials, such as metals, wood, plastics, liquid, or glass, which is also driving the photoelectric sensors market. Various benefits facilitated by photoelectric sensors also play a crucial role in driving this market. The sensing range of photoelectric sensors usually gets affected due to reflectivity and target color, which may hamper the market to some extent. Alternatively, the leading manufacturers of sensor technologies are witnessing continuous demand for miniaturization. In such a scenario, photoelectric sensors are highly preferred as they are comparatively compact and lightweight.
The photoelectric sensors market is categorized based on technology, structure, beam source, range, and end-use. The technology segment includes retro-reflective, reflective, and through-beam. Retro-reflective sensor technologies are projected to hold a prominent market share in the future, due to their low maintenance and reduced installation costs.
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The structure segment is classified into a separate amplifier, built-in amplifier, fiber type, and built-in power supply. The beam source segment is categorized into standard and laser beam sources. Laser sensors are technically revolutionizing the photoelectric sensors market. The laser beam segment is estimated to witness remarkable growth, as these sensors are highly preferred for critical applications.
By range, the market includes >10,000 mm, >1,000–10,000 mm, >100–1,000 mm, and≤100 mm. By end-use, the market comprises pharmaceuticals and medical, automotive and transportation, consumer electronics, industrial manufacturing, food and beverages, building automation, and others. Photoelectric sensors are extensively deployed in automotive applications, such as detecting automobiles in parking lots and shiny obstacles, which will fuel this segment’s growth in the future.
Browse the full “Photoelectric Sensors Market By Technology (Retro-Reflective, Through-Beam, and Reflective), By Structure (Built-In Amplifier, Separate Amplifier, Built-In Power Supply, and Fiber Type), By Beam Source (Standard and Laser), By Range (=100 mm, >100–1,000 mm, >1,000–10,000 mm, and >10,000 mm), and By End-Use (Industrial Manufacturing, Consumer Electronics, Building Automation, Automotive & Transportation, Pharmaceuticals & Medical, Food & Beverages, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/photoelectric-sensors-market
The Asia Pacific is expected to register lucrative growth opportunities in the photoelectric sensors market over the forecast time period. The region is projected to attain substantial market share by the end of 2019. India, South Korea, and China are leading market contributors to the regional market. This regional market is driven by the rising number of market-relevant business and the presence of globally leading photoelectric sensors manufactures in Japan. Some of these renowned manufacturers headquartered in Japan are Keyence Corporation, Omron, and Panasonic. China held the largest market share in the region, due to the huge product demand for various consumer electronics applications. The Chinese consumer electronics market is projected to account for USD 127.2 billion by the end of 2019.
North America held a substantial share globally in the photoelectric sensors market in 2018, due to rising demand for retro-reflective photoelectric sensor technology for medical applications. Globally, the U.S. attained 40% of the medical device market, i.e., USD 156 billion in 2017. The U.S. also holds the largest market share in the region, whereas Mexico is estimated to register the highest growth rate from 2019 to 2025. The rising count of manufacturing companies has simultaneously fuelled the market for photoelectric sensors in Canada.
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The notable demand for photoelectric sensors for automotive applications is a major market contributor in Europe. These sensors are highly preferred in diversified automotive applications, such as initiation of advanced electronic power steering systems. The rising stringent emission rules and regulations initiated by the European governments are also driving this market. With the strong presence of globally leading automotive manufacturers, Germany held a notable market share in this region. In Germany, 20% of the total market revenue is obtained from the automobile industry. France is anticipated to witness the highest growth rate from 2019 to 2025.
The flourishing package industry is mainly propelling the photoelectric sensors market demand in Latin America. Photoelectric sensors are used for detecting transparent bottles, monitoring a product's presence, and controlling conveyer's position. Industrial automation is another impactful factor accelerating this regional market.
Some globally renowned players of the photoelectric sensors market are Omron Corporation, IFM Electronic, Keyence Corporation, Avago Corporation, Panasonic, Rockwell Automation, Schneider Electric, Autonics, Balluff, Baumer Group, and Eaton Corporation.
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This report segments the global photoelectric sensors market into:
Photoelectric Sensors Market: Technology Analysis
- Retro-Reflective
- Through-Beam
- Reflective
Photoelectric Sensors Market: Structure Analysis
- Built-In Amplifier
- Separate Amplifier
- Built-In Power Supply
- Fiber Type
Photoelectric Sensors Market: Beam Source Analysis
- Standard Beam Source
- Laser Beam Source
Photoelectric Sensors Market: Range Analysis
- ≤100 mm
- >100–1,000 mm
- >1,000–10,000 mm
- >10,000 mm
Photoelectric Sensors Market: End-Use Analysis
- Industrial Manufacturing
- Consumer Electronics
- Building Automation
- Automotive and Transportation
- Pharmaceuticals and Medical
- Food and Beverages
- Others
Photoelectric Sensors Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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