Photoelectric sensor is a specialized sensor that is used to detect the presence and absence or distance of an object using alight transmitter and a photoelectric receiver. The light used for object detection varies from sensor to sensor, the photoelectric sensor market has a wide range of applications in manufacturing industry. The photoelectric sensors market is anticipated to grow in the forecast period owing to driving factors such as growing focus towards increasing operational efficiency, and growing demand for IoT. The photoelectric sensor market is experiencing significant growth owing to escalating industrialization across the world, especially in Asia-Pacific. Steady economic growth and favorable government policies are attracting companies to set up manufacturing facilities in Asian countries.
KEYENCE CORPORATION; OMRON Corporation; and Schneider Electric. are some of the key market pla
yers operating in the global photoelectric sensor market. The listing of key players is derived by considering multiple factors such as overall revenue, current photoelectric sensor product portfolio, geographical reach, new product launches, market initiatives, and investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the photoelectric sensor ecosystems which were studies analyzed during the course of this market research study, such as, Autonics Corporation; Balluff GmbH; Eaton; ifm electronic gmbh; Panasonic Corporation; Rockwell Automation, Inc; and others.
KEYENCE CORPORATION; OMRON CORPORATION; AND SCHNEIDER ELECTRIC. – PROMINENT MARKET PARTICIPANTS IN PHOTOELECTRIC SENSOR MARKET
Most of the market initiatives were observed in Europe region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | News | Region |
| 2020 | Balluff Photoelectric Sensors provide Condition Monitoring data. It provides solid photoelectric sensing as well as condition monitoring and advanced IO-link features from the smart automation and monitoring systems (SAMS) portfolio, which are designed to reduce downtime by making troubleshooting, changeover, and machine setup easier. | Europe |
| 2020 | ifm, a sensor and automation specialist, and CloudRail, an IIoT expert, have formed a strategic alliance. The companies will pool their skills to improve their positions on the strongly growing market for professional IIoT and cloud solutions. | Europe |
