Global Reflective Photoelectric Sensor Market 2017-2021

Overview of the global reflective photoelectric sensor market

Technavio’s market research study has identified the growing demand for industrial automation to be one of the primary growth factors for the reflective photoelectric sensor market. Industrial automation helps in enhancing the production of industries by involving the usage of different technologies and automatic control devices to operate the process automatically. Reflective photelectric sensors detect ferrous and non-ferrous metal and non-metal objects and provide reliable identification among products based on color. Additionally, these sensors can also detect automation errors and monitor speed and quality of the production line. With the growing adoption of automation in the food processing, material handling, packaging, and transportation sectors, the demand for these sensors will increase in the coming years. Our market analysts have estimated that this market will grow steadily at a CAGR of close to 8% by 2021.

Smart photoelectric sensors are equipped with inbuilt intelligence that optimizes adjustments and enhances the reliability. Additionally, the inbuilt microprocessors offer accurate adjustments and optimize the sensing reliability to offer improved self-diagnostics. Since consumers are increasingly demanding for higher levels of reliability and security, the demand for the implementation of smart sensors and IoT applications will considerably increase in the coming years. According to our industry research and analysis, the increasing implementation of smart photoelectric sensors will be one of the key trends that will propel the growth of the reflective photoelectric sensor market.

Competitive landscape and key vendors

The reflective photoelectric sensor market is fragmented due to the presence of several international, regional, and local players who offer innovative products. Owing to the rapid technological advancements and the adoption of modern technologies, the competition among the vendors in this market is steadily increasing. To consolidate their market share, the players are also engaging in M&A activities.

The leading vendors in the market are

• Broadcom
• Keyence
• OMRON
• Panasonic
• Rockwell Automation

The other prominent vendors in the market are Autonics, Balluff, Banner Engineering, Baumer, Eaton, IFM Electronic, Pepperl+Fuchs, Schneider Electric, and Sick.

Segmentation by application and analysis of the reflective photoelectric sensor market

• Manufacturing
• Food and beverages
• Packaging
• Pharmaceutical

The manufacturing industries are adopting automation since it provides several advantages such as reduced costs, ease of production, energy and material savings, accuracy, better productivity, precision, and improved quality. with the utilization of industrial robots for various purposes including milling and processing, assembling and dissembling, and painting, the coming years will witness considerable growth of the reflective photoelectric sensors market in this segment.

Segmentation by technology and analysis of the reflective photoelectric sensor market

• Retro-reflective technology
• Diffuse-reflective technology

Retro-reflective photoelectric sensors provide several advantages such as reliability in operation, flexibility in application, better polarization, and precision sensing. Additionally, these sensors are also easy to align and provide improved functionality, improved communication capabilities, and reliable object detection. According to our analysts, the retro-reflective photoelectric sensors market segment will account for the maximum share of the reflective photoelectric sensor market throughout the next few years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global reflective photoelectric sensor market?
• What are the key market trends impacting the growth of the global reflective photoelectric sensor market?
• What are the challenges to market growth?
• Who are the key vendors in the global reflective photoelectric sensor market?
• What are the market opportunities and threats faced by the vendors in the global reflective photoelectric sensor market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global reflective photoelectric sensor market?

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