Photoelectric sensors are being widely adopted in various industries such as packaging, manufacturing, and food & beverage. The increased need for production efficiency and rising adoption of industrial automation are some of the factors driving the growth of the global photoelectric sensor market. Thrubeam photoelectric sensors are typically the most widely used sensors for packaging and food & beverage processing. As laser beams possess features such as high intensity and shorter wavelength, these are visible from a distance as well. Photoelectric sensors that are often used for food packaging and manufacturing use a laser beam source for emitting light.
Numerous application of photoelectric sensors across various verticals, such as material handling, industrial automation, packaging, and connected spaces is noted to the underlining causes for the photoelectric sensor market growth. With the growing adoption of automated vehicles, robotics, and automated machines and devices, manual labor is largely cutting down at factories and in workplaces, which is expected to surge the market growth. The expansion of the market can largely be attributed to the increase with the quick automation of industries. Quick growing urban population and as the concept of smart cities takes shape, these are likely to be causes that can propel the growth of the global market. The increase in number of projects on smart city and growing demand for smart devices that are integrated with photoelectric sensors can also prompt the market growth.
Detailed Regional Analysis
Globally, the photoelectric sensor market is segmented into four regions. They include, North America, Asia Pacific, Europe, and the rest of the world (RoW). The RoW segment comprise of South America and the Middle East and Africa. The photoelectric sensor in APAC is likely to spearhead the global market. The market in North America is anticipate to be quick growing in the forecast period. The Europe photoelectric sensor is noted to rank second in the growth chart of the market.
The presence of numerous global vendors operating in the market photoelectric is expected to characterize it. The competition among these eminent key players is noted to be intensify highly, as these players compete to gain better market share. In addition, marketers are making deliberate efforts on improving quality, cost, accuracy, and reliability of products which are expected to aid vendors to sustain the competitive market. Furthermore, technical advancements and initiatives of government and their policies for the adoption of photoelectric sensors are additional factors that are anticipated to drive the market growth during the forecast span.
The key players in the photoelectric sensor market are identified across all the major regions based on their country of origin, presence across different regions, key developments, product diversification, and industry expertise. Some of them are Omron Corporation (Japan), Keyence Corporation (Japan), Sick AG (Germany), Schneider Electric SE (France), Panasonic Corporation (Japan), Rockwell Automation Inc. (US), Ifm Electronic GmbH (Germany), Pepperl+Fuchs (Germany), Balluff GmbH (Germany), Banner Engineering Corp (US), SensoPart Industriesensorik GmbH (Germany), HTM Sensors (US), Fargo Controls Inc (US), Leuze electronic GmbH + Co. KG (Germany), and wenglor sensoric GmbH (Germany). These players contribute significantly to market growth.
Apart from the top key players, the other players contribute nearly 35–40% in the photoelectric sensor market. These are Autonics Corporation (South Korea), Tri-Tronics (US), DoorKing Inc (US), Locon Sensor Systems Inc (US), DIS Sensors BV (Netherlands), Honeywell International Inc. (US), Contrinex AG (Switzerland), among others
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