Photoelectric Sensors Market to Reach $2 Billion by 2030 - Exclusive Report by Meticulous Research®
Meticulous Market Research Pvt. Ltd.
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Meticulous Market Research Pvt. Ltd.
Photoelectric Sensors Market by Sensing Type (Diffuse-reflective Sensors, Retro-reflective Sensors), Sensing Distance, Structure (Amplifier Built-in, Power Supply Built-in), Beam Source, Output, End Use, and Geography - Global Forecast to 2030
Redding, California, June 20, 2023 (GLOBE NEWSWIRE) -- Meticulous Research® - leading global market research company, published a research report titled, ‘Photoelectric Sensors Market by Sensing Type (Diffuse-reflective Sensors, Retro-reflective Sensors), Sensing Distance, Structure (Amplifier Built-in, Power Supply Built-in), Beam Source, Output, End Use, and Geography - Global Forecast to 2030.’
The photoelectric sensors market is projected to reach $2 billion by 2030, at a CAGR of 12.8% from 2023 to 2030. The growth of this market is driven by the rising adoption of photoelectric sensors across several industries, the increasing adoption of retro-reflective sensors for various applications, ongoing digitization, and emerging connected industries. However, the availability of alternatives restrains the growth of this market. The rising adoption of industrial robots and the growing demand for packaged foods are expected to create significant market growth opportunities. However, the scarcity of raw materials and the high maintenance costs of photoelectric sensors are challenges for market growth.
The photoelectric sensors market is segmented by sensing type, sensing distance, structure, beam source, output, end use, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on sensing type, the photoelectric sensors market is segmented into through-beam sensors, diffuse-reflective sensors, retro-reflective sensors, distance-settable sensors, and limited-reflective sensors. In 2023, the retro-reflective sensors segment is expected to account for the largest share of the photoelectric sensors market. The segment’s large market share is mainly attributed to the simplicity, cost-effectiveness, compact design, versatility, stability, and long sensing distances of retro-reflective sensors. Their reliable performance and adaptability to different object types and environments contribute to their popularity. Also, these sensors have reduced maintenance and installation costs and are ideal for reliably detecting transparent objects. They can also efficiently detect large and small objects.
However, the through-beam sensors segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to through-beam sensors' ability to provide reliable and precise detection over longer distances compared to other sensor types. This ability makes them suitable for industries such as manufacturing, logistics, automotive, and pharmaceutical that require large sensing ranges.
Based on sensing distance, the photoelectric sensors market is segmented into less than 300 mm, 300 mm to 1000 mm, 1000 mm to 10,000 mm, and more than 10,000 mm. The 300 mm to 1000 mm segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is driven by the features of 300 mm to 1000 mm sensors, such as short-range and long-range object detection and their compact sizes. These features drive the adoption of these sensors among logistics and packaging companies. The integration of these sensors also increases the profitability of packaging and handling operations.
Based on structure, the photoelectric sensors market is segmented into amplifier built-in, power supply built-in, amplifier-separated, and fiber. In 2023, the amplifier built-in segment is expected to account for the largest share of the photoelectric sensors market. The segment’s large share is attributed to the extensive use of amplifier built-in photoelectric sensors in ICS and wafer detection applications in semiconductor manufacturing. Moreover, these sensors are used for the reliable detection of long-range objects with a low impact of curves and gloss on their sensing capabilities. Amplifier built-in photoelectric sensors are widely used in industrial manufacturing and automotive applications.
However, the fiber segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the ability of fiber photoelectric sensors to detect small differences in the height of objects. The use of fiber photoelectric sensors is limited to narrow-space applications.
Based on beam source, the photoelectric sensors market is segmented into infrared beam, red beam, green beam, blue beam, and three color beam. The red beam segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is driven by the visibility, contrast, human eye sensitivity, cost-effectiveness, and power efficiency of photoelectric sensors with red beam sources. Their reliability and compatibility with various environments and detection requirements contribute to their widespread use in industrial automation, object detection, and position-sensing applications.
Based on output, the photoelectric sensors market is segmented into digital and analog. The digital segment is projected to register the higher CAGR during the forecast period. The high growth of this segment is driven by the increasing adoption of digital photoelectric sensors in key applications such as object detection. Photoelectric sensors with digital output offer both design and operational advantages over photoelectric sensors with analog output. They offer enhanced technical performance, improved safety margins, and reduced maintenance costs.
Based on end use, the photoelectric sensors market is segmented into consumer electronics, automotive & transportation, packaging, pharmaceutical & medical, food & beverage, building automation, industrial manufacturing, and other end uses. In 2023, the automotive & transportation segment is expected to account for the largest share of the photoelectric sensors market. Photoelectric sensors are used in several automotive and transportation applications, such as enabling advanced electronic power steering systems, detecting automobiles in parking lots, and detecting shiny objects. The low costs of photoelectric sensor manufacturing and mandatory emission regulations have also led to the increased use of these sensors in the automotive & transportation industry. For instance, the Euro 6 standards for exhaust emissions in Europe require a 56% reduction in nitrogen oxide emissions from diesel engines.
However, the food & beverage segment is projected to register the highest CAGR during the forecast period due to the food & beverage industry’s growing focus on technology adoption and mechanical manipulation of raw foods to create high-value-added food products, which drives the demand for photoelectric sensors.
Based on geography, the photoelectric sensors market is segmented into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific is projected to register the highest CAGR during the forecast period. The region includes major country-level markets such as China, Japan, South Korea, India, and Taiwan, which are known for their strong industrial base and manufacturing capabilities. These countries have well-established automotive, electronics, consumer goods, and machinery industries, which widely utilize photoelectric sensors. The high demand for photoelectric sensors in these industries, coupled with Asia-Pacific’s increasing industrialization, drives the growth of the photoelectric sensors market in the region.
Some of the key players in the photoelectric sensors market study are OMRON Corporation (Japan), KEYENCE CORPORATION (Japan), SICK AG (Germany), Schneider Electric SE (France), Rockwell Automation Inc. (U.S.), ifm electronic gmbh (Germany), Pepperl+Fuchs SE (Germany), Balluff GmbH (Germany), Banner Engineering Corp. (U.S.), Panasonic Corporation (Japan), EATON CORPORATION plc (Ireland), HTM Sensors Inc (U.S.), wenglor sensoric GmbH (Germany), Fargo Controls Inc. (U.S.), and Carlo Gavazzi (Switzerland).
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