Photoelectric Sensors Market

Photoelectric Sensors Market worth $2.0 billion by 2024

The report "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", The photoelectric sensors market is estimated to grow from USD 1.4 billion in 2019 to USD 2.0 billion by 2024; it is expected to grow at a CAGR of 7.0%. Major factors driving the market growth include rising adoption of industrial automation, increasing government initiatives, and growing need for production efficiency.

Browse 65 market data Tables and 42 Figures spread through 145 Pages and in-depth TOC on "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"
View detailed Table of Content here -

Retro-reflective segment to hold largest share during forecast period

Retro-reflective sensing is the most optimum sensing technology when compared to through-beam and reflective, considering parameters such as, sensing range, accuracy, reliability, and price. Unlike through-beam sensors, retro-reflective sensors cost less and have comparable sensing range and accuracy. Moreover, retro-reflective sensors offer simple wiring (electric connection at only one junction) and optical axis adjustment, which eventually saves a considerable labor cost. Also, particularly in retro-reflective sensors, light passes through sensing objects twice, which makes them very suitable for transparent objects detection.

Digital output to have fastest growth during forecast period

The major application of photoelectric sensors is object detection, unlike continuous measurement of any particular parameters such as temperature, pressure, etc., which led to high adoption of sensors with digital output. In such applications, a sensor with digital output offers high accuracy and fast response. Also, digital signals are more immune to EMI and RF noise than analog. Thus, photoelectric sensors market with digital output held the largest market and expected to grow at the highest rate.

APAC is expected to hold the largest market size in the photoelectric sensors market during the forecast period

APAC is estimated to account for the largest share of the market in 2018. The increased number of automation activities in industrial processes, government initiatives for driving smart industries, and established market for manufacturing in China, Japan, and South Korea are key contributing factors for the growth of the photoelectric sensors market in APAC. China is a global manufacturing hub for semiconductor and automotive manufacturers.

Key players in the photoelectric sensors market include 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).

Don’t miss out on business opportunities in Photoelectric Sensors Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 7094
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Photoelectric Sensors Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2020 MarketsandMarkets Research Private Ltd. All rights reserved

Digital Virtual Assistant - MarketsandMarkets