The global photoelectric sensors market to grow at a CAGR of 8.08% during the period 2017-2021
Global Photoelectric Sensors Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the new installations, retrofits, and replacements. Photoelectric sensors used in industrial applications are considered for market estimation and forecast. Photoelectric sensors used in automobiles, consumer durables, and vision guided mobile devices are not included in the report scope.
According to the report, one of the major drivers for this market is Growing implication of MEMS and NEMS in the industries. MEMS (micro-electromechanical systems) and NEMS (nanoelectromechanical systems) integrated with photoelectric sensors are devices with high sensitivity to different stimuli, such as temperature, pressure, or the presence of an obstruction. Thus, they are widely used in sensors in portable devices. These technologies will support to build extremely small sensor systems that can impart artificial intelligence in all human-machine interface devices.
The latest trend gaining momentum in the market is Emergence of integrated smart sensors. A smart sensor is a device that collects input from the environment, compares it with the in-built data, and performs the predefined functions. It provides advantages in reduction of interconnecting wires, offers reliability, and better performance of a facility. These flexible systems need rugged packaging and are easy to use and maintain. The major application areas, which are prone to using smart sensors are structural monitoring to detect damages in the industry and geographical mapping to detect minerals or presence of tunnels.
Further, the report states that one of the major factors hindering the growth of this market is High-cost of fiber optic sensors. The rising trend of smart factories and smart infrastructure has highly influenced the use of fiber-optic sensors owing to their capability of detecting a change in position, deformities, and inclinations. Factors like operating over large dynamic ranges, immunity from electromagnetic interference, and passive operation electrically add to the necessity of fiber optic sensors.