Northbrook, IL -- (SBWIRE) -- 07/27/2021 -- The photoelectric sensor market size is projected to reach USD 2.1 billion by 2025 from an estimated USD 1.5 billion in 2020, at a CAGR of 7.8% from 2020 to 2025. Extensive use of photoelectric sensors in different industries increased the adoption of retroreflective photoelectric sensors in various applications, and surged adoption of industrial robots across several regions are among the factors driving the growth of the photoelectric sensor market.
By type, retroreflective segment held the largest market share in 2019
In 2019, the retroreflective segment held the largest share of the photoelectric sensor market, and this trend is projected to prevail during the forecast period. The growth of the retroreflective segment can be attributed to the rising use of retroreflective photoelectric sensors in industrial manufacturing and pharmaceuticals and medical applications. These sensors have simple wiring and optical axis adjustment controls, which enable their unaffected operations irrespective of the color or angle of the targeted objects. Retroreflective photoelectric sensors are used in pharmaceuticals and medical applications to avoid the empty packaging of tablets.
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The 100 to 1,000 mm range is projected to register the highest CAGR from 2020 to 2025
The 100 to 1,000 mm range segment is projected to lead the photoelectric sensor market from 2020 to 2025. The growth of this segment can be attributed to the increased demand for 100 to 1,000 mm photoelectric sensors from various end-use industries. These sensors can carry out long-range and short-range object detection, irrespective of their materials such as glass, metal, plastic, wood, and liquid. The 100 to 1,000 mm range photoelectric sensors are compact and cost-effective.
Built-in amplifier segment held the largest share of the photoelectric sensor market in 2019
The built-in amplifier segment held the largest share of the photoelectric sensor market in 2019, and this trend is expected to continue during the forecast period. The built-in amplifier segment is projected to grow at a CAGR of 6.1% from 2020 to 2025. The growth of this segment can be attributed to the extensive use of built-in amplifier photoelectric sensors in ICs and wafer detection applications in the semiconductor manufacturing process. Moreover, these sensors are used for the reliable detection of long-range objects with less effect of curve and gloss on their sensing capabilities. Built-in amplifier photoelectric sensors are used in industrial manufacturing and automotive applications. The fiber type segment of the market is projected to grow at the highest CAGR of 9.4% during the forecast period. The growth of this segment can be attributed to the ability of fiber type photoelectric sensors to detect small differences in the height of objects. The use of fiber type photoelectric sensors is limited to narrow-space applications.
The laser beam source is projected to register a higher CAGR from 2020 to 2025
The laser beam source segment of the market is projected to grow at a CAGR of 10.8% from 2020 to 2025. Laser beam source photoelectric sensors is a new trend in the market. These sensors offer highly precise small laser spots for the detection of small objects. Moreover, laser beam source photoelectric sensors are flexible to mount and have reduced maintenance costs as they eliminate the requirement of reflectors. Hence, laser beam photoelectric sensors are increasingly used in plant management and security and surveillance applications.
Digital output segment held a larger share of the photoelectric sensor market in 2019
The digital output segment held a larger share of the photoelectric sensor market in 2019 than the analog output segment. This trend is expected to prevail from 2020 to 2025. The key applications of photoelectric sensors are object detection, which has led to their increased adoption globally. Moreover, these sensors offer both design and operational advantages over analog output photoelectric sensors. They offer enhanced technical performance and improved safety margins, as well as have reduced maintenance costs. Hence, the digital output segment of the photoelectric sensor market is projected to grow at a higher CAGR than the analog output segment during the forecast period.
The food and beverages segment of the market is projected to grow at the highest CAGR during the forecast period
The food and beverages segment of the market is projected to grow at the highest CAGR during the forecast period. The growing focus of the food and beverages industry on technologies and mechanical manipulation of raw foods to create high value-added food products is fueling the demand for photoelectric sensors. Moreover, automation brings standardization in all packaged food items and beverages. It minimizes human interference, thereby eliminating the chances of contamination of food and ensuring that all health standards are met.
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APAC to lead photoelectric sensor market during the forecast period
APAC is projected to lead the photoelectric sensor market from 2020 to 2025. The growth of the market in this region can be attributed to surged demand for automation solutions from automotive and transportation, industrial manufacturing, food and beverages, and packaging applications that use photoelectric sensors. Moreover, the rising demand for nanotechnology has created significant opportunities for the growth photoelectric sensor market in APAC.
Key Market Players
Omron Corporation (Japan), Keyence Corporation (Japan), SICK AG (Germany), Schneider Electric (France), Rockwell Automation Inc. (US), ifm electronic GmbH (Germany), Pepperl+Fuchs (Germany), Balluff Inc. (Germany), Banner Engineering (US), and Panasonic Corporation (Japan) are some of the key players in the photoelectric sensor market.