Global Reflective Photoelectric Sensor Market 2017-2021
About Reflective Photoelectric Sensor
A photoelectric sensor consists of a transmitter and a receiver. It is one type of position sensor, which uses light-emitting diodes as the light source. It sends lights to the sensing object through the transmitter. This light is then reflected and is received by the receiver, thus initiating the sensor output. Reflective photoelectric sensors are a class of photoelectric sensors where both the transmitter that transmits light and the receiver that receives light are placed in one housing unit.
Technavio’s analysts forecast the global reflective photoelectric sensor market to grow at a CAGR of 7.81% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global reflective photoelectric sensor market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Reflective Photoelectric Sensor Market 2017-2021
Technavio recognizes the following companies as the key players in the global reflective photoelectric sensor market: Broadcom, KEYENCE, OMRON, Panasonic, and Rockwell Automation.
Other Prominent Vendors in the market are: Autonics, Balluff, Banner Engineering, Baumer, Eaton, IFM Electronic, Pepperl+Fuchs, Schneider Electric, and Sick.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing adoption of nanotechnology. Nanotechnology involves engineering conducted at a scale of about 1-100 nm. It involves the study of extremely minute things that have applications in various fields of science such as material science, physics, and engineering. The recent developments in nanotechnology have fueled the development of reflective photoelectric sensors.”
According to the report, one driver in the market is growing demand for industrial automation. Industrial automation involves using different technologies and automatic control devices to operate and control the industrial processes automatically. Industrial automation is helping to enhance the production rate in the industries. Industrial automation is expanding the demand for reflective photoelectric sensors globally. Reflective photoelectric sensors are used to detect ferrous and non-ferrous metal and non-metal objects in the industries. In addition, these sensors can identify small-sized objects such as targets less than 1 mm diameter. Reflective photoelectric sensors can identify objects from long distances.
Further, the report states that one challenge in the market is high expense of fiber optic photoelectric sensors. Reflective photoelectric sensors are beneficial in explosive, corrosive, hot, and dangerous environmental conditions. However, one of the major issues hindering the growth of the global reflective photoelectric sensor market is its high cost. The manufacturing cost of these sensors is high as they are developed with advanced features and functionalities. Sometimes, the effective installation of several types of reflective photoelectric sensors requires automation of all the factory operations. In certain cases of retrofit applications, the existing communication lines need to be changed, which is highly capital-intensive. This is hindering the adoption of reflective photoelectric sensors across different sectors.
Broadcom, KEYENCE, OMRON, Panasonic, Rockwell Automation, Autonics, Balluff, Banner Engineering, Baumer, Eaton, IFM Electronic, Pepperl+Fuchs, Schneider Electric, and Sick.