In many industries, it becomes inadvertent to have some form of technology that detects the presence or absence of an object. Various industries thus make use of photoelectric sensors to detect barcode levels on mount, double-fed containers and to detect bottles without a label. Photoelectric sensors are also being used today in multi-level parking facilities to sense the positioning of cars. Thus, the demand for photoelectric sensors is expected to grow over the coming years, suggests a research report by Transparency Market Research (TMR). According to the report, the global photoelectric sensors market is expected to rise from US$400 mn in 2015 to US$1,703.2 mn by 2024, expanding at a CAGR of 17.8% from 2015 to 2024, in terms of revenue. In terms of volume, the market is expected to expand at a 21.2% CAGR from 2015 to 2024
Q. What are the factors driving the global demand for photoelectric sensors?
Industrial automation is one of major reasons escalating the demand for photoelectric sensors across the world. These sensors enable increased speed of process efficiency in chemicals, automotive, and manufacturing industries, thus driving their demand.
Photoelectric sensors have the ability to operate over large distances and detect non-metallic objects. Thus, they are extensively used in semiconductor devices, packaging, logistics, and other similar areas. The heightened demand for retro reflective photoelectric sensors in object detection and glass detection is driving the market. The short time consumption period during setup and the high reliability of these sensors are fueling their adoption across industries.
Q. What is the emerging trend in the global photoelectric sensors market?
The introduction of nanotechnology is identified as a major growth opportunity for players in the global photoelectric sensors market. Nanotechnology enables the manufacturing of photoelectric sensors that are so tiny in size, that they are rarely visible. For instance, Pepperl+Fuchs has introduced R2 Series Ultra-Small Sensors recently, which offers a glass optical surface resistant to environmental contaminants, abrasions, and chemicals. This high resistance results in greater signal strength, better and consistent detection, and greater visibility over dark materials. The ultra-compact size makes these sensors ideal for material handling, print and paper, and other general purpose applications.
Q. Which region is expected to lead in the global photoelectric sensors market?
The global photoelectric sensors market was led by Europe in 2015. Europe is expected to retain its dominance in the market in the coming years. The rising demand for industrial automation is expected to be the prime reason behind the growth of the photoelectric sensors market in the region. Building automation is another factor driving the market in Europe. Further, the use of photoelectric sensors in elevators and parking is expected to fuel the demand for photoelectric sensors in the coming years.
Thus, the global photoelectric sensors market will witness considerable growth over the years owing to the increasing need for automation across industries.
Q. What are the factors driving the global demand for photoelectric sensors?
Industrial automation is one of major reasons escalating the demand for photoelectric sensors across the world. These sensors enable increased speed of process efficiency in chemicals, automotive, and manufacturing industries, thus driving their demand.
Photoelectric sensors have the ability to operate over large distances and detect non-metallic objects. Thus, they are extensively used in semiconductor devices, packaging, logistics, and other similar areas. The heightened demand for retro reflective photoelectric sensors in object detection and glass detection is driving the market. The short time consumption period during setup and the high reliability of these sensors are fueling their adoption across industries.
Q. What is the emerging trend in the global photoelectric sensors market?
The introduction of nanotechnology is identified as a major growth opportunity for players in the global photoelectric sensors market. Nanotechnology enables the manufacturing of photoelectric sensors that are so tiny in size, that they are rarely visible. For instance, Pepperl+Fuchs has introduced R2 Series Ultra-Small Sensors recently, which offers a glass optical surface resistant to environmental contaminants, abrasions, and chemicals. This high resistance results in greater signal strength, better and consistent detection, and greater visibility over dark materials. The ultra-compact size makes these sensors ideal for material handling, print and paper, and other general purpose applications.
Q. Which region is expected to lead in the global photoelectric sensors market?
The global photoelectric sensors market was led by Europe in 2015. Europe is expected to retain its dominance in the market in the coming years. The rising demand for industrial automation is expected to be the prime reason behind the growth of the photoelectric sensors market in the region. Building automation is another factor driving the market in Europe. Further, the use of photoelectric sensors in elevators and parking is expected to fuel the demand for photoelectric sensors in the coming years.
Thus, the global photoelectric sensors market will witness considerable growth over the years owing to the increasing need for automation across industries.
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