Photoelectric Sensor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Thru-Beam, Retroreflective, Diffused), By End-User (Consumer Electronics, Packaging, Semiconductor, Manufacturing, Automotive, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Feb 2022
- Report Code : KSI061611639
- Pages : 120
The photoelectric sensor market was valued at US$1.446 billion in 2020 and is expected to grow at a CAGR of 7.84% over the forecast period to reach a market size of US$2.453 billion by 2027.
A photoelectric sensor uses a light transmitter, often infrared, and a photoelectric receiver to identify the distance, absence, or presence of an object. They are primarily employed in industrial manufacturing.
The rise in demand for safety and surveillance through biological agent detection in the military sector, as well as the need to measure product parameters such as pressure and position in all aspects of control and automation, drives the photoelectric sensor market growth, and so does the penetration of the Industrial Internet of Things (IIoT).
However, high installation costs, the complexity associated with deploying transmitters and receivers in different locations in beam and retro-reflective sensors, as well as the regular maintenance required owing to lens contamination, tend to hamper the expansion of the photoelectric sensor market.
The adoption of robotics and complete automation by programming and reprogramming equipment in the food and beverage sector for cutting, positioning, and essential inspection applications, on the other hand, enhances the revenue of the photoelectric sensor market. Extensive progress in digital sensor technology, along with an increase in demand for IoT, and massive government investments in security and surveillance, is expected to open new doors for the photoelectric sensor market.
Asia Pacific's photoelectric sensor market is expected to dominate the global industry. The increasing usage of advanced technology, expanding acceptance of IIoT across various industrial facilities, and rising safety regulations in emerging nations such as India, Japan, and China are driving the expansion of photoelectric sensors in the region. The photoelectric sensors market is growing rapidly due to the fast expansion of end-user sectors such as consumer electronics, industrial, automotive, and textile. Nanotechnology has also opened up new prospects for the Asia-Pacific photoelectric sensor market.
- Extensive application in various industries
Photoelectric sensors can detect objects of various sizes and sense a variety of materials. They have a vast sensing range, are inexpensive, and have a long life. As manufacturers strive to increase production efficiency without sacrificing product quality, demand for these photoelectric sensors continues to rise. Any defect in the manufacturing process might result in massive losses. As a result, manufacturers are incorporating photoelectric sensors into their manufacturing or assembly lines. Photoelectric sensors, for instance, are used in the food and beverage industries to identify the size of items, detect flaws, count small objects, and check misaligned lids on bottles. Photoelectric sensors are used by robotic pickers and trucks in the logistics and materials handling industries to ensure efficient and safe operations. These sensors are also used by automatic doors and elevators to detect and count people.
- Slowing down overseas trade
The engagement of the United States and China in a trade war may result in global trade regionalization. This trade war has already reduced trade flows between the two nations by imposing tariffs, imposing business restrictions on particular firms, and accusing each other of currency manipulation. The continuance of this trade war has heightened global industrial concern. It has also harmed global economic advances, as seen by a fall in overseas commerce. In major markets, the Manufacturing Purchasing Managers' Index has fallen, and export order levels have deteriorated. Furthermore, the spread of the COVID-19 pandemic has led not only to the loss of human lives but also to political and economic implications. The pandemic resulted in widespread lockdowns, which have slowed manufacturing and international trade. Consequently, the world economy has suffered. Hence, slower international trade and a failing global economy operate as major barriers for photoelectric sensor producers, restricting market development.
Impact of COVID-19 on the photoelectric sensor market
The COVID-19 pandemic had significantly impacted the photoelectric sensor market. Several industrial units, including those in automotive, packaging, and logistics, ceased operations in 2020. Consumer demand declined, and international trade restrictions, and supply chain disruptions have all hampered market potential. Manufacturers of pharmaceuticals and medical devices, as well as food and drinks, increased their manufacturing capacity in response to the COVID-19 pandemic in order to satisfy rising consumer demand while preserving the supply chain for essential commodities. To satisfy rising demand, several manufacturers shifted toward the use of automated processes and technology, creating new opportunities for industry growth.
- In September 2021, the Coast Guard Administration (CGA) of Taiwan replaced 23 outdated coastal radar stations with advanced units in order to enhance its marine reconnaissance and surveillance capabilities. The CGA stated that five gap-filler radars and six photoelectric sensors will be added to solve existing surveillance blind spots.
- SICK led innovation in June 2021 with the introduction of the new W4F micro photoelectric sensor for intelligent object identification in limited installation areas for proximity applications.
Photoelectric Sensor Market Scope:
|Market size value in 2020||US$1.446 billion|
|Market size value in 2027||US$2.453 billion|
|Growth Rate||CAGR of 7.84% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Omron Corporation, Pepperl+Fuchs, Telco Sensors, Sick AG, Panasonic Corporation, Keyence Corporation, Rockwell Automation Inc., Leuze Electronic GmbH, Schneider Electric, Banner Engineering|
|Customization scope||Free report customization with purchase|
- By Type
- By End-User
- Consumer Electronics
- By Geography
- North America
- United States
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the photoelectric sensor market size by 2027?
A1. The global photoelectric sensor market is expected to reach a total market size of US$2.453 billion in 2027.
Q2. What are the growth prospects for the photoelectric sensor market?
A2. The global photoelectric sensor market is expected to grow at a CAGR of 7.84% over the forecast period.
Q3. What is the size of the global photoelectric sensor market?
A3. Photoelectric Sensor Market was valued at US$1.446 billion in 2020.
Q4. What factors are anticipated to drive the photoelectric sensor market growth?
A4. The rise in demand for safety and surveillance through biological agent detection in the military sector, as well as the need to measure product parameters, drives the photoelectric sensor market growth.
Q5. Which region holds the largest market share in the photoelectric sensor market?
A5. The Asia Pacific region is expected to hold a noteworthy share in the photoelectric sensor market.
1.1. Market Overview
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Photoelectric Sensors Market Analysis, By Type
6. Photoelectric Sensors Market Analysis, By End-User
6.2. Consumer Electronics
7. Photoelectric Sensors Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Omron Corporation
9.3. Telco Sensors
9.4. Sick AG
9.5. Panasonic Corporation
9.6. Keyence Corporation
9.7. Rockwell Automation Inc.
9.8. Leuze Electronic GmbH
9.9. Schneider Electric
9.10. Banner Engineering
Rockwell Automation Inc.
Leuze Electronic GmbH
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