Global Industrial Laser Sensor Market 2017-2021
About Industrial Laser Sensor
Industrial sensors are devices used to transform the physical quantity of a signal into corresponding electrical signals. These signals are processed through an electronic automation system and depict physical variations or signal errors in devices. The sensors are classified based on position or velocity, displacement, proximity, pressure, temperature, and, vibration or acceleration functionalities. These sensors provide better control and automation when used in industrial processes owing to their high reliability, accuracy, sensitivity, and control. Industrial sensors are widely used in applications of measuring, monitoring, automating, and testing in the industrial sector. The value chain involved in this market involves tasks ranging from the detection of process parameters in process industries to the analysis of specifications and characteristics of the final products.
Technavio’s analysts forecast the global industrial laser sensors market to grow at a CAGR of 10.24% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial laser sensors market for 2017-2021. To calculate the market size, the report considers the new installations, sales, value, retrofit and replacement market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Laser Sensor Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial laser sensors market: Banner, Baumer Group, KEYENCE, Laser Technology, and Schmitt Industries
Other Prominent Vendors in the market are: SICK, OMRON, Panasonic, Cognex, MICRO-EPSILON, Rockwell Automation, and wenglor.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of collaborative robots. The rising trend of collaborative robots (cobots) will have a major impact on the market in focus. These robots are meant to work in collaboration with humans. The rising labor rates and continuously changing consumer demand are influencing industries to adopt collaborative robots in their operations to enhance their quality and productivity. At present, these robots are used in lightweight operations such as placing products on trays to heavyweight duties such as palletizing.”
According to the report, one of the major drivers for this market is Rise in Industrial Revolution with respect to IoT. The Industry 4.0 is a revolution in industries that is primarily focused on the automation of factories and implementation of the IoT in industries. Industry 4.0 enables advances in industries by converging industrial systems with the competence of advanced computing, analytics, and low-cost sensing, and new levels of connectivity enabled by the Internet. A few of the technologies supporting this revolution are cloud services, Big Data analytics, and pervasive sensing technologies.
Further, the report states that one of the major factors hindering the growth of this market is Challenges related to regulatory compliance. Different regulations set by regulatory bodies, such as the Occupational Safety and Health Administration (OSHA), Underwriters Laboratories (UL), and American National Standard Institute (ANSI) should be followed by all sensor manufacturing companies in the Americas. These agencies have many regulations in place owing to different working environments. However, complications arise as these regulations differ from industry to industry and from region to region. For a global vendor, it is difficult to follow all the regulations for every slot of their order. This is because, the need to adhere to every regulation not only affects the production process of sensors but also makes it a costly affair while implementing changes.
Banner, Baumer Group, KEYENCE, Laser Technology, Schmitt Industries, SICK, OMRON, Panasonic, Cognex, MICRO-EPSILON, Rockwell Automation, and wenglor.
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