Electrical And Electronics Manufacturing

Global Photoelectric Sensor Market Outlook, Opportunities And Strategies

December 23, 2021 by The Business Research Company

Learn about the global photoelectric sensor market through The Business Research Company, which provides information on photoelectric sensor market size, photoelectric sensor market drivers and restraints, photoelectric sensor market players, the COVID-19 impact on the photoelectric sensor market, and more.

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The global photoelectric sensor market is expected to grow from $1.31 billion in 2020 to $1.63 billion in 2021 at a compound annual growth rate (CAGR) of 24.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.11 billion in 2025 at a CAGR of 6.6%.

The increasing demand for photoelectric sensors from various industries such as consumer electronics, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, packaging, and industrial manufacturing is expected to drive innovation in photoelectric sensor manufacturing, thus driving the market during the forecast period.

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The photoelectric sensor market consists of sales of photoelectric sensors and related services by entities (organizations, sole traders and partnerships) that manufacture photoelectric sensors. A photoelectric sensor refers to a sensor that emits a light beam from its light-emitting element. Photoelectric sensors are used in consumer electronics, industrial manufacturing, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, packaging, and other sectors.

Global photoelectric sensor market segments include:

By Type: Proximity Photoelectric Sensor, Fibre Optic Photoelectric Sensor

By Technology: Retro-Reflective, Through-Beam, Diffused, Others

By Range: =100 mm, 100 to 1,000 mm, 1,000 to 10,000 mm, >10,000 mm

By Application: Consumer Electronics, Industrial Manufacturing, Automotive and Transportation, Building Automation, Food and Beverages, Pharmaceuticals and Medical, Packaging, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the photoelectric sensor market in 2020.

The emergence of smart photoelectric sensors is a key trend in the photoelectric sensor market. Smart photoelectric sensors contain built-in microprocessor-based intelligence that provides them with new capabilities to optimize their adjustments and make them more reliable. Smart photoelectric sensors are rapidly becoming the norm rather than the exception and deliver advanced self-diagnostics and the ability to interface with sensor networks.

TBRC’s photoelectric sensor market report covers:

Major Market Players: Schneider, Baumer Group, Panasonic, Omron Corp., SICK, Keyence, Rockwell Automation, Balluff, Banner, Tri-Tronics, Baumer, Hans Turck, Pepperl+Fuchs (Germany), and Di-soric.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Photoelectric Sensor Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides photoelectric sensor market overviews, analyses and forecasts market size, share, photoelectric sensor market players, photoelectric sensor market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s photoelectric sensor market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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