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 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061611639
  • Pages : 120

The photoelectric sensor market is evaluated at US$1.708 billion for the year 2022 and is projected to grow at a CAGR of 10.23% to reach a market size of US$3.860 billion by the year 2029.

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, and the regular maintenance required owing to lens contamination, tend to hamper the photoelectric sensor market expansion.

MARKET TRENDS:

Many important factors support the market's expansion and the uptake of photoelectric sensors is driving the industry. The photoelectric sensors market is growing as automation and Industry 4.0 techniques are being adopted more widely in a variety of industries, such as manufacturing, automotive, packaging, and logistics. Since they can detect things, measure distances, and monitor processes, these sensors are essential to automated systems because they make automated machinery and equipment operate dependable and efficiently.

Additionally, the need for photoelectric sensors with cutting-edge features like wireless connectivity, edge computing power, and IoT platform integration is being fueled by the growing emphasis on smart manufacturing solutions, which are defined by real-time monitoring, predictive maintenance, and data-driven decision-making.

MARKET DRIVERS:

  • Increasing adoption of robotics and complete automation is anticipated to drive 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, 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.

  • Extensive application in various industries may positively impact the market.

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.

  • Rising demand for smart manufacturing is predicted to boost the photoelectric sensor market.

The photoelectric sensors market is being greatly impacted by the growing need for smart manufacturing, which is pushing the need for sophisticated sensing technologies in industrial automation. Real-time data gathering, analysis, and decision-making are key components of smart manufacturing, which makes higher-capacity sensors necessary.

In smart manufacturing systems, photoelectric sensors are essential because they can detect objects, measure distances, and track many characteristics including location, speed, and quality. Photoelectric sensors are becoming more in demand as companies embrace smart manufacturing solutions to increase productivity, efficiency, and flexibility. These sensors make it possible for automated machinery and equipment to operate precisely and effectively.

MARKET RESTRAINTS:

  • Slowing down overseas trade may hamper the overall market.

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. In major markets, the Manufacturing Purchasing Managers' Index has fallen, and export order levels have deteriorated. Slower international trade and a failing global economy operate as major barriers for photoelectric sensor producers, restricting market development.

Asia Pacific is predicted to account for a significant share of 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 growth and expansion of the Asia Pacific photoelectric sensor market is driven by many significant factors. First, the region's fast industrialization, especially in manufacturing-heavy nations like China, Japan, South Korea, and India is driving up demand for automation solutions and, in turn, photoelectric sensor use.

These sensors are essential to industrial automation because they make it possible to precisely and reliably identify items, position them, and monitor processes all of which increase productivity and operational efficiency. 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.

Market Developments:

  • In August 2023, Pepperl+Fuchs introduced a new line of photoelectric sensors in a cubic shape with the R202 series. Basic features are the focus of the sensors with a red light LED and a basic switching function with two switching outputs. A standardized housing design is provided for the following five function principles: diffuse mode, diffuse mode with background suppression, retroreflective, thru-beam, and retroreflective for clear-object detection.
  • In August 2022, Rockwell Automation announced new low-cost photoelectric sensors for worldwide use. With a variety of detecting modes, mounting choices, and unique features, the new Allen-Bradley 42EA RightSight S18 and 42JA VisiSight M20A photoelectric sensors are affordable and simple to use, making them the best options for operations across the world.

Photoelectric Sensor Market Scope:

 

Report Metric Details
Market Size Value in 2022 US$1.708 billion
Market Size Value in 2029 US$3.860 billion
Growth Rate CAGR of 10.23% from 2022 to 2029
Study Period
2019 to 2029
Historical Data
2019 to 2022
Base Year 2023
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segments Covered
  • Type
  • End-User
  • Geography
Companies Covered
  • Omron Corporation
  • Pepperl+Fuchs
  • Telco Sensors
  • Sick AG (Sick Holding GmbH)
  • Panasonic Corporation
  • And more
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope Free report customization with purchase

 

Segmentation:

  • By Type
    • Thru-Beam
    • Retroreflective
    • Diffused
  • By End-User
    • Consumer Electronics
    • Packaging
    • Semiconductor
    • Manufacturing
    • Automotive
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others 
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Others 
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others 
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

The global photoelectric sensor market is expected to grow at a CAGR of 10.23% during the forecast period.
The photoelectric sensor market is expected to reach a market size of US$3.860 billion by 2029.
Photoelectric Sensor Market was valued at US$1.708 billion in 2022.
Asia Pacific is expected to hold a significant share of the photoelectric sensor market.
The major factor anticipated to drive the photoelectric sensor market growth is the increasing adoption of automation and robotics across various industries.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits for the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

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

4.5. Analyst View

5. PHOTOELECTRIC SENSOR MARKET, BY TYPE

5.1. Introduction

5.2. Thru-Beam

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Retroreflective

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Diffused

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

6. PHOTOELECTRIC SENSOR MARKET, BY END-USER

6.1. Introduction

6.2. Consumer Electronics

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Packaging

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Semiconductor 

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

6.5. Manufacturing

6.5.1. Market Trends and Opportunities

6.5.2. Growth Prospects

6.5.3. Geographic Lucrativeness

6.6. Automotive

6.6.1. Market Trends and Opportunities

6.6.2. Growth Prospects

6.6.3. Geographic Lucrativeness

6.7. Others

6.7.1. Market Trends and Opportunities

6.7.2. Growth Prospects

6.7.3. Geographic Lucrativeness

7. PHOTOELECTRIC SENSOR   MARKET, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Type

7.2.2. By End-User

7.2.3. By Country

7.2.3.1. USA

7.2.3.1.1. Market Trends and Opportunities

7.2.3.1.2. Growth Prospects

7.2.3.2. Canada

7.2.3.2.1. Market Trends and Opportunities

7.2.3.2.2. Growth Prospects

7.2.3.3. Mexico

7.2.3.3.1. Market Trends and Opportunities

7.2.3.3.2. Growth Prospects

7.3. South America

7.3.1. By Type

7.3.2. By End-User

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.1.1. Market Trends and Opportunities

7.3.3.1.2. Growth Prospects

7.3.3.2. Argentina

7.3.3.2.1. Market Trends and Opportunities

7.3.3.2.2. Growth Prospects

7.3.3.3. Others

7.3.3.3.1. Market Trends and Opportunities

7.3.3.3.2. Growth Prospects

7.4. Europe

7.4.1. By Type

7.4.2. By End-User

7.4.3. By Country

7.4.3.1. United Kingdom

7.4.3.1.1. Market Trends and Opportunities

7.4.3.1.2. Growth Prospects

7.4.3.2. Germany

7.4.3.2.1. Market Trends and Opportunities

7.4.3.2.2. Growth Prospects

7.4.3.3. France

7.4.3.3.1. Market Trends and Opportunities

7.4.3.3.2. Growth Prospects

7.4.3.4. Spain

7.4.3.4.1. Market Trends and Opportunities

7.4.3.4.2. Growth Prospects

7.4.3.5. Others

7.4.3.5.1. Market Trends and Opportunities

7.4.3.5.2. Growth Prospects

7.5. Middle East and Africa

7.5.1. By Type

7.5.2. By End-User

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.1.1. Market Trends and Opportunities

7.5.3.1.2. Growth Prospects

7.5.3.2. UAE

7.5.3.2.1. Market Trends and Opportunities

7.5.3.2.2. Growth Prospects

7.5.3.3. Israel

7.5.3.3.1. Market Trends and Opportunities

7.5.3.3.2. Growth Prospects

7.5.3.4. Others

7.5.3.4.1. Market Trends and Opportunities

7.5.3.4.2. Growth Prospects

7.6. Asia Pacific

7.6.1. By Type

7.6.2. By End-User

7.6.3. By Country

7.6.3.1. China

7.6.3.1.1. Market Trends and Opportunities

7.6.3.1.2. Growth Prospects

7.6.3.2. Japan

7.6.3.2.1. Market Trends and Opportunities

7.6.3.2.2. Growth Prospects

7.6.3.3. India

7.6.3.3.1. Market Trends and Opportunities

7.6.3.3.2. Growth Prospects

7.6.3.4. South Korea

7.6.3.4.1. Market Trends and Opportunities

7.6.3.4.2. Growth Prospects

7.6.3.5. Taiwan

7.6.3.5.1. Market Trends and Opportunities

7.6.3.5.2. Growth Prospects

7.6.3.6. Thailand

7.6.3.6.1. Market Trends and Opportunities

7.6.3.6.2. Growth Prospects

7.6.3.7. Indonesia

7.6.3.7.1. Market Trends and Opportunities

7.6.3.7.2. Growth Prospects

7.6.3.8. Others

7.6.3.8.1. Market Trends and Opportunities

7.6.3.8.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Omron Corporation

9.2. Pepperl+Fuchs

9.3. Telco Sensors

9.4. Sick AG (Sick Holding GmbH)

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


Omron Corporation

Pepperl+Fuchs

Telco Sensors

Sick AG (Sick Holding GmbH)

Panasonic Corporation

Keyence Corporation

Rockwell Automation Inc.

Leuze Electronic GmbH

Schneider Electric

Banner Engineering