San Francisco, 1 October 2018:
According
to a report published by Grand View Research, Inc.; the photoelectric
sensors market is expected to reach a valuation of around USD 2.09
billion by 2025.
Rising adoption of this
sensors in various industrial end-use including manufacturing, packaging, and
material handling industries can propel the market over the forecast period
(2014 to 2025).
Various benefits associated
with these sensors such as fast response time, long sensing distances, high
resolution, cost effectiveness, extended operating life, low maintenance, and less
power consumption are likely to boost their demand in different end-use in
industries. Development and high adoption of industrial internet of things
(IIoT) is also expected to positively drive the market growth in the years to
come. These devices aid in improving operational efficiency and productivity in
industries. Since, numerous industrial process systems depend on sensors to
perceive reliable and accurate data to control and automation. IIoT mainly uses
these sensors to measure pressures, positions, and several other important
production parameters. Additionally, introduction of smart photoelectric
sensors is likely to support the market growth during the forecast period. Use
of these sensors provide several benefits including reduction in downtime, improved
reliability, less maintenance cost, and reduced weight.
Access
Research Report of Photoelectric
Sensors Market@ www.grandviewresearch.com/industry-analysis/photoelectric-sensors-market
Worldwide photoelectric
sensors market can be segmented on the basis of technology, end-use, and
region.
As per technology, the market
can be characterized into diffused, thru-beam, and retro-reflective.
In 2016, the retro-reflective
segment accounted for the major market share and expected to grow significantly.
The technology offers efficient sensing of glossy and transparent objects, and
small and large objects. It also comprises low installation and maintenance costs.
The thru-beam segment is estimated to grow at a CAGR over 5.0%. The technology
has capabilities like long sensing distances and stable operation. The diffused
segment is expected to expand at a reasonable rate over the study period. Based
on end-use, the market can be fragmented into automotive, electronics and
semiconductor, military and aerospace, packaging, and others.
The automotive segment dominated
the market in 2016. These sensors are extensively used in sensing vehicles in
parking lots, noticing shiny objects, and electronic power steering systems. The
use of these sensors has increased in automobiles due to high implementation of
emission guidelines. For instance, In Europe, the Euro 6 standards for exhaust
emissions involves 56% reduction in nitrogen oxides emission for diesel
engines. The packaging segment is likely to grow with the highest CAGR during
the projected period. This growth can be associated with increasing automation
and high adoption of these devices in packaging. These industries use these
products for detecting transparent bottles, detection of wafers in vacuum
conveyor system, and conveyor positioning control monitoring.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/sensors-and-controls
The military and aerospace
segments, and electronics and semiconductor segment are projected to grow
sensibly during 2017 to 2025. Increasing expenditure in military across several
developed as well as emerging countries is likely to support the military and
aerospace segment. Sensors are widely accepted in the military and aerospace sectors
for detecting biological agent and surveillance.
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Central & South
America, and Middle East and Africa.
In 2016, Asia Pacific estimated
for around 35.0% of the overall market. The region is expected to grow at a
CAGR of 6.0% over the forecast period. Increasing adoption of IIoT is various industrial
facilities, growing technological advancements for improving operational
efficiency, and rise in safety directives are likely to increase the demand for
these sensors in the coming years. Rise in government regulations and
industrial automation in emerging countries such as Japan, China, and India are
expected to support6 the market growth in this region.
Europe is expected to grow on
account of increasing implementation of strict guidelines for industrial
automation in numerous manufacturing settings. The Middle East is also likely to
observe promising demand due to existence of oil and gas companies in the
region.
Major companies operating in
the market include Rockwell Automation Inc.; Keyence Corporation; Panasonic
Corporation; Schneider Electric SE; and Autonics Corporation.
Access
Press Release of Photoelectric Sensors Market@ www.grandviewresearch.com/press-release/global-photoelectric-sensors-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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