Photoelectric Sensor Market to See Revolutionary Growth and Forecast Till 2027
According to a recent report by GMI, Inc., photoelectric sensor market size is projected to exceed USD 2 billion by 2027. Increasing trend of automation in almost every industrial sphere such as food & beverage, packaging & logistics, pharmaceuticals, manufacturing, automotive, etc. has impelled the adoption of photoelectric sensor technology over the past few years. These sensors find important application in high-end automation equipment like material handling robots, pick & place robots, conveyors, packaging machinery, etc. in the packaging industry for timely processing of goods. These important product aspects will augment the growth of photoelectric sensor industry commendably over the ensuing years.
Several e-commerce players, such as Flipkart, Amazon, Walmart, etc. are focusing on improving their transportation, logistics, and supply chain activities which is providing ample opportunities for the market growth.
Get a sample copy of this research report @ https://www.decresearch.com/request-sample/detail/3353
The photoelectric sensor market expansion is further supported by the ongoing technological advancements in photoelectric sensing by the market players. Besides, such developments also help these companies bolster their market presence. To illustrate, in 2020, Omron Automation announced the launch of the E3AS-HL Series, a new complementary metal oxide semiconductor photoelectric sensor suite. According to the company, this product has been designed to enable manufacturers improve flexibility and minimize maintenance needs through stable detection provided by these sensors.
An overview of some of the major industry segments that are positively influencing the business space is as under:
With regards to the product type, photoelectric distance sensors are observing an elevating demand from the food and beverage sector. These sensors are installed over automated assembly lines and help in detecting impurity and measuring proximity or distance in the high-speed rotary conveyors in the food industry. These sensors offer high measurement accuracy and reliability and helps in achieving high-quality zero-defect products in food processing units. On account of their high usability, photoelectric distance sensors segment had captured a sizeable market share of around 20% in 2020 and is now expected to grow exponentially over the coming years.
Speaking of the sensor range, photoelectric sensors with >10,000 mm range are witnessing mounting demand due their intuitive features like precision monitoring, non-contact sensing and color-related object detection. They are in high demand in across various applications like pallet detection, flaw detection in large glass panels, baggage handling in airports, etc. Considering the rising product demand, >10,000 mm range segment had accounted for a significant market share of around 20% in 2020 and is anticipated to observe a robust CAGR of 5% through 2027.
Based on the source bifurcation, infrared source segment is expected to record a notable growth in following years. For the record, in 2020, the segment had held a substantial market share of more than 35%. This is majorly due to the increasing adoption of infrared sensors driven by numerous high-end characteristics associated with this sensor technology. These sensors offer variety of benefits like faster response time, high durability, longer sensing range and longer lifecycle than LEDs. In addition, they are more cost-effective than laser beam sensors which is impelling the product adoption further.
Request for customization @ https://www.decresearch.com//roc/3353
Photoelectric sensor market are gaining a high prominence across automotive & transportation sector due to their usability in various applications like detecting glass plates for automotive, measurement of rolling frequency for camshaft and motors, as well as vehicle coating. In addition, increasing automotive production is also proliferating the adoption of photoelectric sensors. According to the International Organization of Motor Vehicle Manufacturers, China had recorded over 27.8 million units of automobile vehicle production in 2020, which represents over 28% of global production. In light of these factors, automotive & transportation segment is estimated to record a lucrative CAGR of 7% through 2027.
Regionally, Europe is touted to stand tall as a strong hub for photoelectric sensor market, thanks to the presence of prominent pharma companies like Novo Nordisk, Pfizer, Inc., and AstraZeneca, among others, in the region. These companies are focusing on mass production of novel drugs and vaccines. The companies are also inclined on increasing research & development activities which is instigating the deployment of photoelectric sensors, contributing to the business expansion. Reportedly, Europe photoelectric sensor market is projected to register an appreciable CAGR of 6% through 2027.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Scope & definition
1.2 Methodology & forecast parameters
1.3 Data Sources
1.3.1 Secondary
1.3.2 Primary
Chapter 2 Executive Summary
2.1 Photoelectric sensor market 3600 synopsis, 2016 - 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Type trends
2.1.5 Range trends
2.1.6 Source trends
2.1.7 Application trends
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/photoelectric-sensor-market
About Us: –
DecResearch.com, powered by GMI, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed ‘Table of Contents’ for reports being regularly published by GMI. Via this platform, users not only get to answers to their questions about these reports, they also have an additional avenue to talk to the sales and research teams of GMI to learn more about the topics of their interest.
Contact Us: –
DecResearch.com
Website: – https://www.decresearch.com
Email: info@decresearch.com