Report cover image

Photoelectric Sensor Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Publisher Global Market Insights
Published Aug 21, 2024
Length 230 Pages
SKU # GMI19205142

Description

Photoelectric Sensor Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032


The global photoelectric sensor market was valued at USD 1.88 billion in 2023 and is projected to grow at a CAGR of over 8.5% from 2024 to 2032. The push towards automation in manufacturing drives this market. Industries aim to minimize errors, boost efficiency, and reduce labor costs, making automation technologies indispensable. Photoelectric sensors facilitate counting, accurate object detection, and positioning, essential for conveyor belts, robotic systems, and assembly lines. For example, in December 2023, PepsiCo announced a USD 13 million investment to enhance its soft drinks production in Romania, focusing on a fully automated production line at the Dragomirești facility, set to boost production capacity by 60%, enabling the plant to produce 1 million bottles daily.

The overall photoelectric sensor industry is classified based on the product, type, range, source, application, and region.

The market segments types into through-beam, retro-reflective, and diffuse. In 2023, retroreflective sensors led with over 47% market share. Their dominance stems from versatility and cost-effectiveness, utilizing a single unit that merges transmitter and receiver functions, simplifying installation and maintenance while ensuring consistent performance across diverse applications. Their capability to detect objects without a separate reflector makes them ideal for general purposes in packaging, manufacturing, and material handling.

Application-wise, the market spans automotive and transportation, industrial manufacturing, building automation, pharmaceuticals, food and beverages, medical, packaging & logistics, and more. In 2023, industrial manufacturing emerged as the fastest-growing segment, with a CAGR exceeding 10%. The segment's market value is projected to surpass USD 1.4 billion by 2032. This growth is driven by swift automation advancements and a quest for efficient production. Industry 4.0 has spurred manufacturers to embrace technologies like photoelectric sensors, aiming for enhanced efficiency, precision, and reliability. These sensors are vital in tasks like quality control, assembly line automation, and process monitoring, crucial for boosting productivity and minimizing downtime.

Asia Pacific dominated the photoelectric sensor market in 2023, holding over 41% of the share. The region's lead is attributed to swift industrialization and a burgeoning manufacturing base. Countries like China, South Korea, and Japan are at the forefront, championing automation and tech advancements. With a surge in production facilities and significant investments in infrastructure, the demand for photoelectric sensors has skyrocketed, enhancing efficiency across various industrial processes. The region's robust automotive and electronics sectors amplify its market dominance, coupled with government initiatives promoting tech advancements.

Table of Contents

230 Pages
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360° synopsis, 2021-2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.1.1 Rising integration of photoelectric sensor in automated assembly lines
3.7.1.2 Supportive government policies and initiatives
3.7.1.3 Growing implementation of industrial robots
3.7.1.4 Increasing demand for packaging solutions
3.7.1.5 Technological advancements
3.7.2 Industry pitfalls & challenges
3.7.2.1 Low performance associated with diffused-type photoelectric sensors
3.7.2.2 High cost associated with maintenance
3.8 Growth potential analysis
3.9 Porter’s analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.9.5 Industry rivalry
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product, 2021-2032 (USD Million & Units)
5.1 Key trends
5.2 Photoelectric fork sensor
5.3 Photoelectric label sensor
5.4 Photoelectric distance sensor
5.5 Photoelectric color sensor
5.6 Others
Chapter 6 Market Estimates & Forecast, By Type, 2021–2032 (USD Million & Units)
6.1 Key trends
6.2 Retro reflective
6.3 Through beam
6.4 Diffuse
Chapter 7 Market Estimates & Forecast, By Range, 2021–2032 (USD Million & Units)
7.1 Key trends
7.2< 100 mm
7.3 101 mm - 1,000 mm
7.4 1,001 mm to 10,000 mm
7.5 >10,000 mm
Chapter 8 Market Estimates & Forecast, By Source, 2021–2032 (USD Million & Units)
8.1 Key trends
8.2 Laser beam
8.3 Infrared (IR)
8.4 LED
Chapter 9 Market Estimates & Forecast, By Application, 2021–2032 (USD Million & Units)
9.1 Key trends
9.2 Industrial manufacturing
9.3 Automotive and transportation
9.4 Building automation
9.5 Food and beverages
9.6 Pharmaceuticals and medical
9.7 Packaging & logistics
9.8 Others
Chapter 10 Market Estimates & Forecast, By Region, 2021-2032 (USD Million & Units)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest of Latin America
10.6 MEA
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 Rest of MEA
Chapter 11 Company Profiles
11.1 Autonics Corporation
11.2 Balluff Inc
11.3 BANNER ENGINEERING
11.4 Baumer Group
11.5 Carlo Gavazzi
11.6 Eaton
11.7 Fargo Controls Inc
11.8 Hans Turck GmbH & Co. KG
11.9 HTMSensors
11.10 ifm electronic gmbh
11.11 KEYENCE CORPORATION
11.12 Leuze electronic GmbH + Co. KG
11.13 OMRON Corporation
11.14 Panasonic Corporation
11.15 Pepperl+Fuchs
11.16 Rockwell Automation, Inc.
11.17 Schneider Electric
11.18 SensoPart Industriesensorik GmbH
11.19 SICK AG
11.20 STS Electronics Limited

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us