Photoelectric sensors are gaining popularity due to their high reliability and long-range object detection capabilities, irrespective of the size, shape, color, material, and surface properties of objects. These sensors are designed to operate under harsh conditions; moreover, they are enabled with advanced technologies to ensure reliable suppression of undesirable reflections. These abilities makes them more versatile than many other sensor types and appropriate for industrial usage. For instance, retro reflective sensors with polarization filters detect the position of carriage of any shape and material, which is to be kept on and off the track of a rollercoaster. Further, photoelectric sensors are widely used in the military and aerospace industries owing to their high accuracy and reliable performance. They are used in cargo aircraft for smoke and fire detection. In addition, photoelectric sensors help airframe and engine manufacturers to monitor aerospace system parameters such as pressure, temperature, acceleration, optical position, and speed. Moreover, the defense industry is extensively using biological detection equipment for detecting the presence of chemical substances in environment and for assessing the risk of potential biological threats by detecting harmful biological materials, to safeguard both military and civilian populations. Thus, the accuracy and reliability of photoelectric sensor operations make them a preferred sensor type in harsh industrial conditions.
According to the latest report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst-affected countries due to the COVID-19 outbreak. In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent in coming years. The outbreak disrupted primary industries such as electronics, semiconductor, and manufacturing. A sharp decline in the growth of these industries is limiting the growth of the photoelectric sensor market. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have negatively impacted manufacturing, supply, and sales of various sensor products.
Manufacturers of photoelectric sensors are focusing on lowering operating costs to stay competitive. However, they are expected to resume production activities during the post-lockdown phase. Government initiatives to boost economies and relaxations in the lockdowns are expected to fuel demand for photoelectric sensors during the forecast period. Demand for photoelectric sensors is likely to expand as new technologies become more widely adopted in the automotive and aerospace industries.
Pharmaceutical companies focus on improving their overall manufacturing operations by avoiding discrepancies such as empty packaging, which can be caused due to the unavailability of medicine tablets on the production line. The industry is increasingly deploying photoelectric sensors for tablet counting, bottle filling, and count verification (in clinical trials). These sensors are also being used in automated prescription fulfillment machines at retail pharmacies and hospitals. Further, advancements in photoelectric sensors in terms of their sensing range, which is improving their counting accuracy, along with maintaining a hygienic production environments by excluding human contacts while packaging of medicine are the benefits associated with photoelectric sensors. Also, photoelectric sensor provides a cost-effective solution, which is attained through automatic production line in the pharmaceutical industry. Hence,
the surge in the adoption of photoelectric sensors in pharmaceutical companies is mainly attributed to their abilities to enhance efficiencies, reduce industry’s operational costs, and facilitate real-time production monitoring. These sensors automate the upper and lower levels of liquid measurement in jar or tank. The use of strong corrosive chemicals (acidic or basic) is commonplace in pharmaceutical companies, and thus, the detection of liquid levels in storage tanks is an important task in these plants. Thus, increasing use of photoelectric sensors in the pharmaceuticals industry would drive the photoelectric sensor market growth in the coming years.
Based on technology, the photoelectric sensor market is segmented into diffused, retro-reflective, and thru-beam. In 2020, the retro-reflective segment accounted for the largest share in the market.
Based on end-user, the photoelectric sensor market is segmented into automotive, military and aerospace, electronics and semiconductor, packaging, and others. In 2020, the automotive segment accounted for the largest market share.
The players operating in the photoelectric sensor market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
The regional trends and factors influencing the Photoelectric Sensor Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Photoelectric Sensor Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1.46 Billion |
| Market Size by 2028 | US$ 2.58 Billion |
| Global CAGR (2021 - 2028) | 7.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Photoelectric Sensor Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Photoelectric Sensor Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Photoelectric Sensor Market
The rising need for of sensors and technological developments to solve complex challenges is encouraging innovations in photoelectric sensors. The pulse ranging technology (PRT), which can calculate object’s distance by using the principal of direct light propagation time measurement method, can be valuable in commercial industrial applications. PRT sensors provide accurate and continuous distance data with digital or analog outputs. In addition, positioning PRT sensors on each side of the carton and measuring these distances would also provide dimensions of pallets or cartons, which can be used to calculate the volume of the pallet or carton. The technology is expected to further improve the efficiency and accuracy of line assembly by providing comprehensive details of materials in production or operational process.
The growth of the Photoelectric Sensor market is primarily attributed to the accuracy and reliability of photoelectric sensors. Photoelectric sensors are gaining popularity due to their high reliability and long-range object detection capabilities, irrespective of the size, shape, color, material, and surface properties of objects. These sensors are designed to operate under harsh conditions; moreover, they are enabled with advanced technologies to ensure reliable suppression of undesirable reflections. These abilities makes them more versatile than many other sensor types and appropriate for industrial usage.
Rising demand for photoelectric sensors in pharmaceuticals industry is providing noteworthy opportunities to the Photoelectric Sensor market players. Pharmaceutical companies focus on improving their overall manufacturing operations by avoiding discrepancies such as empty packaging, which can be caused due to the unavailability of medicine tablets on the production line. The industry is increasingly deploying photoelectric sensors for tablet counting, bottle filling, and count verification (in clinical trials). These sensors are also being used in automated prescription fulfillment machines at retail pharmacies and hospitals.