Photoelectric Sensor Market size is expected to exceed USD 3 billion by 2030, according to latest research report Global Market Insights Inc.
The widespread usage in smart home electronics will bolster the demand for these sensors. The IoT technology is being integrated into consumer electronics to remotely manage house operations, optimize home security, and boost energy efficiency. The market prospects will expand owing to the rising popularity of home automation systems, such as automated doors, camera & security systems, lighting solutions, and others. Furthermore, the rapid implementation of 3D optical technology in surveillance systems across the public places will aid industry development.
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Expanding packaging sector to impel the demand for label sensors
The label product segment in photoelectric sensor market in Europe was more than USD 50 million in 2021 and is poised to keep growing through 2030. The label sensors are gaining traction from the packaging and labeling industry. These sensors offer benefits, such as better usability, superior precision, and flexibility, which have accelerated their acceptance in the packing factory to recognize labels with complex forms and on high-speed conveyor belts.
Proliferating automation to fuel the adoption of through-beam photoelectric sensors
In the Indian photoelectric sensor industry, the through beam type segment valued at over USD 30 million in 2021. Based type, the high-end features of through beam photoelectric sensors, such as wider transmission range, quick reaction time, and precise proximity detection, are supporting the product espousal. The rising automation trend, in consort with product applications in collaborative robotics, autonomous guided vehicles, light switches, and electricity meters will further influence the business statistics.
Favorable features to propel infrared photoelectric sensors industry share
Asia Pacific photoelectric sensor market demand from infrared source is projected to reach 5 million units by 2030. The advanced attributes of photoelectric infrared sensors, including longer sensing range, high durability, extended lifecycle, and fast response time, are fueling the usage of the product in a wide array of application. These sensors are also cost-effective as compared to laser sensors, opening up new growth prospects.
Deployment of automatic safety technologies in automotive & transportation application
The automotive and transportation segment in North America is poised to reach USD 100 million by 2030. Rising integration of automatic safety technologies in automotives, such as parking assistance, obstacle detection, and accident avoidance, is soaring the demand for photoelectric sensors in automotive and transportation applications. The improved cognizance of road safety and the implementation of strict traffic rules are compelling the major automakers like Tesla and Audi to concentrate on integrating cutting-edge sensors in vehicles.
Browse key industry insights spread across 390 pages with 652 market data tables and 38 figures & charts from the report “Photoelectric Sensor Market Size By Product (Photoelectric Fork Sensor, Photoelectric Label Sensor, Photoelectric Distance Sensor, Photoelectric Color Sensor), By Type (Retro Reflective, Through-beam, Diffuse), By Range (<100 mm, 101-1000 mm, 1001-10,000 mm, >10,000 mm), By Source (Laser-beam, Infrared, LED), By Application (Industrial Manufacturing, Automotive & Transportation, Building Automation, Food & Beverages, Pharmaceuticals & Medical, Packaging & Logistics), COVID19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
Growing use of surveillance drones and UAVs in North America
The North America photoelectric sensors market size surpassed USD 350 million in 2021 and is anticipated to accumulate substantial revenues during 2022-2030, driven by the growing deployment of surveillance drones and unmanned aerial vehicles (UAVs) across the region.
Strong marketing tactics to outline the competitive environment
The key participants in photoelectric sensor business scenario include Rockwell Automation Inc., OMRON Corporation, Schneider Electric, and Eaton. In order to strengthen their position in market, these companies are collaborating with other players to expand their services. For instance, in August 2021, the Switzerland based sensor technology company, Baumer Group partnered with APS in order to broaden their national distribution network. As per the deal, APS would assist the company to expand its sales channel for encoders, sensors, and other equipment.