Major players in the photoelectric sensor market are Schneider, Baumer Group, Panasonic, Omron Corp. , SICK, Keyence, Rockwell Automation, Balluff, Banner, Tri-Tronics, Baumer, Hans Turck, Pepperl+Fuchs (Germany), and Di-soric.
New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Photoelectric Sensor Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06036650/?utm_source=GNW
The global photoelectric sensor market is expected to grow from $1.31 billion in 2020 to $1.63 billion in 2021 at a compound annual growth rate (CAGR) of 24.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.11 billion in 2025 at a CAGR of 6.6%.
The photoelectric sensor market consists of sales of photoelectric sensors and related services by entities (organizations, sole traders and partnerships) that manufacture photoelectric sensors.A photoelectric sensor refers to a sensor that emits a light beam from its light-emitting element.
Photoelectric sensors are used in consumer electronics, industrial manufacturing, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, packaging, and other sectors.
The main types of a photoelectric sensor are proximity photoelectric sensor and fiber optic photoelectric sensor.The proximity photoelectric sensor detects objects directly in front of them by detecting the sensor’s own transmitted light reflected from an object’s surface and the fiber optic photoelectric sensor detects mechanical strain or temperature, concentrations of chemical species, acceleration, rotations, pressure, vibrations, and displacements The technologies used in photoelectric sensors are retro-reflective, through-beam, and diffused, and the range of detection varies from being ?100 mm, 100 to 1,000 mm, 1,000 to 10,000 mm, and >10,000 mm.
The photoelectric sensors are used in various sectors including consumer electronics, industrial manufacturing, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, and packaging.
Asia Pacific was the largest region in the photoelectric sensor market in 2020.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The outbreak of COVID-19 has impacted the demand and supply chain of the photoelectric sensors market and this has restrained the market growth during the period.The shutdown of business operations across the world, owing to the impact of COVID-19 has resulted in a decline in the demand for photoelectric sensors from various industries.
Also, due to lockdown norms imposed, the production of photoelectric sensors in manufacturing facilities across the world has been temporarily shut down to curb the spread of the virus and this had significantly impacted the players operating in the photoelectric sensors value chain. Therefore, the COVID-19 outbreak during 2020 has hindered the market growth of photoelectric sensors during the historic period.
In January 2019, SICK Group, one of the world’s leading producers of sensors and sensor solutions for industrial applications, acquired Chilean joint venture SICK SpA for an undisclosed amount.The deal aims to acquire 50% shares and strengthening its position in South America.
SICK Group produces sensors and sensor solutions for industrial applications. SICK SpA is a provider of sensors, safety systems and automatic identification products.
The increasing demand for photoelectric sensors from various industries such as consumer electronics, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, packaging, and industrial manufacturing is expected to drive the market for photoelectric sensors during the forecast period.For instance, automated doors and gates on buses, trains, elevators, garages and others need to have reliable sensing technology so that they open and close at correct times.
Photoelectric sensors coupled with infrared scanners can detect approaching people or vehicles and can open or close doors accordingly. Therefore, the demand for photoelectric sensors is increasing in various applications including automotive and this is expected to drive the market during the forecast period.
The emergence of smart photoelectric sensors is a key trend in the photoelectric sensor market.The smart photoelectric sensor contains built-in microprocessor-based intelligence that provides them with new capabilities to optimize their adjustments and make them more reliable.
Smart photoelectric sensors are rapidly becoming the norm rather than the exception and deliver advanced self-diagnostics and the ability to interface with sensor networks.For example, conventional photoelectric sensors fail to operate under any problems like accumulated dust on the lenses, whereas a smart photoelectric sensor has a microprocessor chip that initiates an alarm signal to the controller and flash LED.
Diagnostic alarms provide early warnings against the problem that occurred. Therefore, smart photoelectric sensors are more reliable and efficient and it is an emerging trend in the smart photoelectric market.
The countries covered in the photoelectric sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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