Global $2 Bn Photoelectric Sensors Market Forecast to 2024 - Rising Adoption of Industrial Automation / Increasing Government Initiatives / Need for Increased Production Efficiency

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May 20, 2019, 19:15 ET

DUBLIN, May 20, 2019 /PRNewswire/ -- The "Photoelectric Sensors Market by Technology (Through-beam, Retro-reflective, Reflective), Range, Structure, Beam Source (Laser Beam, Standard Beam), Application (Consumer Electronics, Industrial Manufacturing) and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The photoelectric sensors market is expected to grow from USD 1.4 billion in 2019 to USD 2.0 billion by 2024 at a CAGR of 7.0% during the forecast period.

The need for photoelectric sensors is mainly governed by the rising adoption of industrial automation and increasing government initiatives. However, competent alternative technologies such as inductive, capacitive, ultrasonic which serve the relatively same purpose can hinder the growth of the market.

The reflective segment is expected to grow at the highest CAGR during the forecast period

The reflective market is the fastest-growing segment in the photoelectric sensors market. Reflective (diffuse) sensors offer the cheapest sensing solution among all other categories of photoelectric sensors, which itself makes it quite eminent to be adopted across various applications with budget constraints. Also, with technological advancements such as laser beam and others, accuracy and sensing range are being improved. Also, one-point installation and convenience drive the increasing shipment of reflective sensors.

Industrial manufacturing output is expected to hold the largest size of photoelectric sensors market during the forecast period

Industrial manufacturing is the most dominant industry for photoelectric sensors. The need for automation is increasing in industrial products manufacturing to ensure accuracy, shorter and consistent cycles, and faster time-to-market. Also, the rising trend of mass customization where versatility is required along with precision; automation is inevitable. Moreover, newer trends such as smart factories and realization of its benefits to bring the process efficiency lead the adoption of automation for industrial manufacturing, which eventually drives the adoption of photoelectric sensors in industrial automation.

APAC is expected to record the highest growth rate during the forecast period

APAC is expected to have the highest growth rate during the forecast period due to an increasing number of automation activities in industrial processes, government initiatives for driving smart industries, and established the market for manufacturing in China, Japan, and South Korea. China is a global manufacturing hub for semiconductor and automotive manufacturers.

Omron Corporation (Japan), Keyence Corporation (Japan), Panasonic Corporation (Japan), Rockwell Automation, Inc. (US), Sick AG (Germany), Schneider Electric (France), IFM Electronic FZC (Germany), Balluff (Germany), Pepperl & Fuchs (Germany), and Banner Engineering (US) are among the leading players in the photoelectric sensors market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Adoption of Industrial Automation
5.2.1.2 Increasing Government Initiatives
5.2.1.3 Need for Increased Production Efficiency
5.2.2 Restraints
5.2.2.1 Competent Alternative Technologies
5.2.3 Opportunities
5.2.3.1 Digitization and Connected Industries
5.2.3.2 Growing Trend of Miniaturization for Sensor Technologies
5.2.4 Challenges
5.2.4.1 Required High Maintenance
5.3 Value Chain Analysis

6 Photoelectric Sensors Market, By Technology
6.1 Introduction
6.2 Through-Beam
6.2.1 Highest Accuracy and Maximum Sensing Range are the Key Characteristics for Through-Beam Sensors Adoption
6.3 Retro-Reflective
6.3.1 Being Most Optimum Solution With Respect to Price, Accuracy, Reliability, and Sensing Range, Retro-Reflective Sensors are Highly Adopted
6.4 Reflective
6.4.1 Reflective Sensors are Preferred for Short Range Sensing Applications With Space and Budget Constraints

7 Photoelectric Sensors Market, By Range
7.1 Introduction
7.2 100 Mm
7.2.1 Sensors With 100 Mm Range are Used for Close Monitoring of Small Objects
7.3 >100-1,000 Mm
7.3.1 Sensors With >100-1,000 Mm Range are Being Adopted at the Highest Rate
7.4 >1,000-10,000 Mm
7.4.1 Sensors With >1,000-10,000 Mm Range to Hold the Largest Market for Retro-Reflective Sensing Technology
7.5 >10,000 Mm
7.5.1 Sensors With >10,000 Mm Range are Largely Offered By Through-Beam Sensing Technology for Long-Distance Applications

8 Photoelectric Sensors Market, By Structure
8.1 Introduction
8.2 Built-In Amplifier
8.2.1 Built-In Amplifier Photoelectric Sensors are Less Susceptible to Noise With No External Signal Transmission Connectivity
8.3 Built-In Power Supply
8.3.1 Convenience of Use Without Any External Connected Components Drive the Demand for Built-In Power Supply Photoelectric Sensors
8.4 Separate Amplifier
8.4.1 Factors Such as Compact Size and Remote Sensing Adjustments Drive the Market for Separate Amplifier Photoelectric Sensors
8.5 Fiber Type
8.5.1 Market for Fiber-Type Photoelectric Sensors is Expected to Grow at the Highest CAGR During the Forecast Period

9 Photoelectric Sensors Market, By Beam Source
9.1 Introduction
9.2 Laser Beam Source
9.2.1 Market for Laser Sensors is Expected to Grow at the Highest Rate
9.3 Standard Beam Source
9.3.1 LEDs
9.3.1.1 LEDs are Mainly Adopted as A Beam Source for Photoelectric Sensors
9.3.2 Infrared
9.3.2.1 High Efficiency of Infrared Sensors Drives Its Demand

10 Photoelectric Sensors Market, By Output
10.1 Introduction
10.2 Digital
10.2.1 Digital Output Sensors Held the Largest Share of the Photoelectric Sensors Market
10.3 Analog
10.3.1 Analog Output Sensors are Used for Analysing the Variation in the Measurement

11 Photoelectric Sensors Market, By Application
11.1 Introduction
11.2 Consumer Electronics
11.2.1 Ensuring the Process Efficiency and Precise Operations Drive the Consumer Electronics Photo Electronic Market
11.3 Industrial Manufacturing
11.3.1 Industrial Manufacturing Held the Largest Market of Photoelectric Sensors
11.4 Automotive & Transportation
11.4.1 Increasing Infrastructure Investments and Developments in Automotive & Transportation Drives the Adoption of Photoelectric Sensors
11.5 Building Automation
11.5.1 Smart City Initiatives and Adoption of Automation for Convenience and Safety Measure Drive the Building Automation Photoelectric Sensors Market
11.6 Food & Beverages
11.6.1 Photoelectric Sensors Market for Food & Beverages is Expected to Grow at the Highest Rate
11.7 Pharmaceuticals & Medical
11.7.1 Maintaining Safe, Consistent, and Efficient Manufacturing Processes Demands Photoelectric Sensors for Pharmaceuticals & Medical Applications
11.8 Packaging
11.8.1 Photoelectric Sensors are Being Adopted to Increase the Overall Capacity of Packaging Plant With Improved Correctness
11.9 Others

12 Geographic Analysis
12.1 Introduction
12.2 North America
12.2.1 US
12.2.1.1 US Held the Largest Market of Photoelectric Sensors in North America
12.2.2 Canada
12.2.2.1 Increasing Manufacturing Companies Across Various Industries Drive the Demand for Photoelectric Sensors in Canada
12.2.3 Mexico
12.2.3.1 Market in Mexico is Expected to Grow at the Highest Rate During Forecast Period.
12.3 Europe
12.3.1 Germany
12.3.1.1 Increasing Adoption of Automation in Automotive Industry Drive the Demand for Photoelectric Sensors in Germany
12.3.2 France
12.3.2.1 The Market in France is Expected to Grow at the Highest Rate in Europe
12.3.3 Italy
12.3.3.1 Growing Industrialization in Italy Drive the Demand of Photoelectric Sensors
12.3.4 UK
12.3.4.1 Growing Pharmaceutical, F&B, and Packaging Industries to Drive the Market in the UK
12.3.5 Rest of Europe
12.4 APAC
12.4.1 China
12.4.1.1 China Held the Largest Share of Photoelectric Sensors Market in APAC
12.4.2 Japan
12.4.2.1 Being One of the Largest Manufacturers of Photoelectric Sensors, Japanese Photoelectric Sensors Market to Grow With Established Factory Automation and R&D Growth
12.4.3 South Korea
12.4.3.1 Presence of Strong Consumer Electronics Manufacturing in South Korea Drive the Demand for Photoelectric Sensors Market
12.4.4 India
12.4.4.1 Photoelectric Sensors Market in India to Grow at the Highest Rate in APAC
12.4.5 Rest of APAC
12.5 RoW
12.5.1 South America
12.5.1.1 Market in South America to Grow With Growing Economy and Increasing Demand for Industrial Automation
12.5.2 Middle East & Africa
12.5.2.1 Increasing Investments in Middle East & African Countries for Economic Developments to Drive the Photoelectric Sensors Market

13 Competitive Landscape
13.1 Overview
13.2 Ranking Analysis
13.3 Competitive Scenario
13.3.1 Product Developments and Launches
13.3.2 Partnerships, Agreements, and Collaborations
13.3.3 Acquisitions
13.3.4 Investments and Expansions
13.4 Competitive Leadership Mapping
13.4.1 Visionary Leaders
13.4.2 Dynamic Differentiators
13.4.3 Innovators
13.4.4 Emerging Companies

14 Company Profiles
14.1 Key Companies
14.1.1 Omron
14.1.2 Keyence
14.1.3 Sick
14.1.4 Schneider Electric
14.1.5 Panasonic
14.1.6 Rockwell
14.1.7 IFM
14.1.8 Pepperl + Fuchs
14.1.9 Balluff
14.1.10 Banner Engineering
14.2 Other Key Companies
14.2.1 Sensopart Industriesensorik
14.2.2 Htm Sensors
14.2.3 Fargo Controls
14.2.4 Leuze Electronic
14.2.5 Wenglor Sensoric
14.2.6 Autonics
14.2.7 Bernstein
14.2.8 Cntd Electric Technology

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