Photoelectric Sensors Market Worth $ 3.4 Billion by 2031 | CAGR: 7.6% - TMR Study

News provided by

Oct 02, 2022, 20:30 ET

Rising application in packaging, material handling, and logistics in multiple industries generating sizable lucrative opportunities in photoelectric sensors
Adoption of automated assembly lines creates massive demand for sensors; sensor manufacturers to tap into emerging avenues in Asia Pacific, propelled by industrial robotics

WILMINGTON, Del., Oct. 3, 2022 /PRNewswire/ -- Abundant use of the sensors in numerous material handling applications has augmented the photoelectric sensor market size over the years. Enormous uptake of photoelectric sensors in various industrial applications has generated tremendous growth opportunities for photoelectric sensor manufacturers. The global photoelectric sensors market is forecast to expand at CAGR of 7.6 % from 2022 to 2031.

Growing demand for built-in amplifier photoelectric sensors in wafer detection applications underpins a vast revenue potential for firms in photoelectric sensors market, observed the TMR analysts. Rising demand from food & beverages industry has allowed sensor manufacturers to grow their photoelectric sensors market shares.

The choice of photoelectric sensor types varies depending on what tracking and tracing applications they are meant for. Of note, photoelectric sensors are widely utilized in wafer detection, conveyor system monitoring, and transparent bottle tracking in F&B industries, and identifying presence/absence of objects, owing to attractive optical properties. Stridently, R&D on these sensors have led to advanced capabilities in response time, sensing range, and reliability of detection in wide array of applications, thereby expanding the canvas for players in photoelectric sensors market.

Request Sample Report at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=8479

Key Findings of Photoelectric Sensors Market Study

Wide Spectrum of Applications in Automated Manufacturing and Production Lines Steering Revenues: Rise in use of photoelectric sensors for monitoring and controlling machines in automated assembly lines has generated abundant opportunities in multiple manufacturing industries. Customers in end-use industries are preferring these due to benefits of faster response time, non-contact sensing, and long-distance sensing, thus boosting the photoelectric sensors market prospects. The increasing trend of automation in handling and assembly processes in metal, electronics, and automotive will catalyze the rate of uptake of the sensors.
Uptake of Photoelectric Sensors in F&B Industry to Rise to Ensure Product Quality: Stringent hygiene and food safety requirements are spurring the demand for photoelectric sensors in the food & beverages industry. Their use in packaging applications is slated to rise during the forecast period, notably where bottles are used. They have been widely used for preventing any positioning errors of the bottle cap, for instance. The application is poised to grow rapidly, generating attractive growth opportunities for manufacturers in photoelectric sensors market.
Built-in Amplifier Photoelectric Sensors Gaining Preference Among Customers: Built-in amplifier photoelectric sensors are gathering traction especially for wafer detection and IC applications in semiconductor manufacturing industries. The segment held a major market share in 2021. Several product attributes reinforce the utilization of this configuration type of photoelectric sensors, notably their ability to detect transparent objects.

Ask for References - https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=8479

Photoelectric Sensors Market: Key Drivers

Rising demand for photoelectric sensors in industrial automation applications is a key driving force for market growth. They are gathering traction in logistic & material handling and packaging applications in various industries.
Rapid pace of urbanization in some emerging economies has spurred automatic door installation in commercial spaces, which is enriching the prospects of photoelectric sensors. The sensors are popularly used in automatic doors.
Need for sensors that can be used for the detection of transparent objects is expanding the avenues for firms in photoelectric sensors market

Photoelectric Sensors Market: Regional Growth Dynamics

Asia Pacific held a major share of the global photoelectric sensors market in 2021, and is anticipated to remain lucrative over the next ten years. Increasing trend of industrial automation and rising adoption of industrial robotics especially in end-use industries in China, South Korea, and Japan have created tremendous demand for photoelectric sensors. Rising adoption of IoT-based machines in smart factories will generate massive revenue streams in the regional market.

Photoelectric Sensors Market: Key Players

A TMR study scrutinizing the strategic dynamics of the photoelectric sensors market found that competition landscape is characterized by high degree of consolidation. Relatively few vendors control the value chain of the market.

Some of the key market players are Schneider Electric SE, Rockwell Automation Inc., Panasonic Industry Co., Ltd., Omron Corporation, Keyence Corporation, ifm electronic gmbh, Eaton Corporation, Baumer Group, and Autonics Corporation.

Make an Enquiry before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=8479

Photoelectric Sensors Market Segmentation

Type

Through-Beam Photoelectric Sensors
Retroreflective Photoelectric Sensors
Diffused Photoelectric Sensors

Range

Upto 100 mm
100 to 1,000 mm
Above 1,000 mm

Configuration

Sensors with Separate Alifiers
Built-in Amplifier Sensors
Sensors with Built-in Power Supplies
Area Sensors

Application

Conveyors
Liquid Crystal Displays
Logistics and Materials Handling
Automatic doors
Industrial Automation
Elevators
Others (Track Packaging, Robotic Pickers, etc.)

End-use Industry

Consumer Electronic
Automotive and Transportation
Healthcare
Industrial
Food & Beverage
Others (Chemicals, Building and Construction, etc.)

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Electronics and Semiconductors Research Reports

Magnetometer Sensor Market- Magnetometer Sensor Market is expected to reach the value of US$ 6.24 Bn by the end of 2031

Temperature Sensor Market- Temperature Sensor Market is expected to reach value of US$ 10.6 Bn by the end of 2031

Transformer Market- Transformer Market is expected to reach US$ 48.18 Bn by the end of 2031

Thermoelectric Module Market- Thermoelectric Module Market is expected to cross value of US$ 1.2 Billion by the end of 2031

Gesture Recognition Market - The global gesture recognition market is expected to reach value of US$ 51.3 Bn by the end of 2031, grow at a CAGR of 20.3% from 2022 to 2031

Ultrasonic Sensors Market - The global ultrasonic sensors market is expected to exceed the value of US$ 7.9 Bn by the end of 2031, expand at a CAGR of 9.3% from 2022 to 2031

Smart/Intelligent Sensors Market - The global smart/intelligent sensors market is expected to cross the value of US$ 208.09 Bn by the end of 2031, expand at a CAGR of 18.2% from 2021 to 2031

Nano Radiation Sensors Market - The global nano radiation sensors market is expected to reach the value of US$ 292.09 Mn by the end of 2031, expand at a CAGR of 4.2% from 2021 to 2031

About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel –
https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact Us:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: 1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]