Photoelectric Sensors Market (By Technology: Diffused, Retro-reflective, Thru-beam; By End-use: Automotive, Military & Aerospace, Electronics & Semiconductor, Packaging) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

The global photoelectric sensors market size is expected to be worth around US$ 5.9 billion by 2030, according to a new report by Vision Research Reports.

The global photoelectric sensors market size was valued at US$ 3.6 billion in 2020 and is anticipated to grow at a CAGR of 7.1% during forecast period 2021 to 2030.

Report Coverage

Report Scope	Details
Market Size	US$ 5.9 Bn by 2030
Growth Rate	CAGR of 7.1% From 2021 to 2030
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Technology, End-use
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned	Panasonic Corporation; Keyence Corporation; Rockwell Automation Inc.; Autonics Corporation; and Schneider Electric SE

Growth Factors

 Rising penetration of Industrial Internet of Things (IIoT) has also resulted in proliferated demand. Industrial and process systems rely on sensors for reliable and precise data in all aspects of control and automation. Industrial Internet of Things uses this product to measure positions, pressures, and other significant production parameters.

Constant rise in military expenditure across developed and developing countries is also expected to boost market growth. These sensors are used in the military and aerospace industry for biological agent detection and surveillance to safeguard military as well as civilian population. Furthermore, advent of smart photoelectric sensors is anticipated to augment market growth over the forecast period. These smart sensors offer various advantages such as reduced maintenance cost, enhanced reliability, decreased weight, and reduced downtime.

By Technology Analysis

The retro-reflective segment accounted for the majority share in 2020 and is expected to grow at the highest rate over the next eight years. This technology enables reduced maintenance and installation costs and is ideal for reliably detecting transparent objects. It can also efficiently detect large as well as small objects.

The thru-beam segment is anticipated to expand at a CAGR exceeding 5.0%. This technology provides benefits such as stable operation and long sensing distances, owing to which, the segment is anticipated to gain traction over the next eight years as well. 

By End-use Analysis

The automotive segment captured the dominant share in the photoelectric sensors market in 2020. These sensors are used in several automotive applications such as enabling advanced electronic power steering systems, detecting automobiles in parking lots, and detecting shiny objects. 

The packaging segment is expected to exhibit the highest CAGR over the forecast period. This growth is ascribed to rising automation along with increased penetration of these devices in the packaging industry.

By Regional Analysis

Asia Pacific captured close to 36.0% of the total market in 2020, which is followed by North America. Asia Pacific is also projected to emerge as the fastest growing market, registering a CAGR of nearly 8.0% from 2021 to 2030.

The growth of the European market for photoelectric sensors can be attributed to increasing stringent regulations for industrial automation in several manufacturing facilities in the region. 

Key Players 

Panasonic Corporation; Keyence Corporation; Rockwell Automation Inc.; Autonics Corporation; and Schneider Electric SE.

Market Segmentation

• By Technology

  • Diffused

  • Retro-reflective

  • Thru-beam

• By End-use

  • Automotive

  • Military & Aerospace

  • Electronics & Semiconductor

  • Packaging

  • Others

• Regional

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)

The Photoelectric Sensors market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Photoelectric Sensors market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Photoelectric Sensors market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Photoelectric Sensors market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Photoelectric Sensors market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Photoelectric Sensors capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Photoelectric Sensors by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Photoelectric Sensors market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Photoelectric Sensors market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Photoelectric Sensors market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Photoelectric Sensors industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Photoelectric Sensors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Photoelectric Sensors market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Photoelectric Sensors market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Photoelectric Sensors market. These factors have benefited the growth of the global market for Photoelectric Sensors. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Photoelectric Sensors. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Photoelectric Sensors are as follows:

• History Year: 2017-2020

• Base Year: 2021

• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.