South America Photoelectric Sensor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Retro-Reflective, Thru-Beam, and Diffused) and End-use (Automotive, Military and Aerospace, Electronics and Semiconductor, Packaging, and Others)

Automotive Segment to dominate South America Photoelectric Sensor Market during 2020-2028

According to a new market research study on “South America Photoelectric Sensor Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Technology and End-use,” is expected to reach US$ 111.58 million by 2028 from US$ 74.97 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the South America photoelectric sensor market along with the drivers and restraints pertaining to the market growth. Soundness and reliability of photoelectric sensor, upward demand in manufacturing industries, and unification of pulse ranging technology are the major factor driving the growth of the South America photoelectric sensor market. However, expensive installation and maintenance costs hinder the growth of South America photoelectric sensor market.

In SAM, Brazil has witnessed the highest number of COVID-19 cases, followed by Ecuador, Peru, Chile, and Argentina. Governments are imposing travel restrictions, lockdowns, and trade bans to contain the infection spread. Thus, the SARS-CoV-2 pandemic has been severely affecting the photoelectric sensor market growth in this region. However, recent relaxations in lockdown and arrangement of large-scale vaccination drives would help the economies to bounce back, which would allow industries to regain their operations in the next few quarters.

The photoelectric sensor market is segmented based on technology, End-use, and country. Based on technology, the market is segmented into retro-reflective, thru-beam, and diffused. In 2020, the retro-reflective segment held the largest share in the market and the same segment is expected to be the fastest growing during the forecast period. Based on End-use the market is segmented into automotive, military and aerospace, electronics and semiconductor, packaging, and others. In 2020, the automotive segment held the largest market share and the packaging segment is expected to the fastest growing over the forecast period. Similarly, based on country the market is segmented into Brazil and Rest of SAM. In 2020 Brazil held the largest share in the market and it is also expected to be the fastest growing during the forecast period.

Autonics Corporation; Balluff GmbH; Eaton Corporation plc.; ifm electronic GmbH; OMRON Corporation; Rockwell Automation, Inc.; Panasonic Corporation; SICK AG; Schneider Electric SE; and Keyence Corporation are among the leading companies in the South America photoelectric sensor market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Panasonic Corporation has created a manufacturable technology that dramatically improves device output fabricated on silicon (Si) wafers by exploiting the unique function of a phononic crystal structure*2, which can overcome the traditional limitation of solids' heat insulation property*3. The heat loss from the infrared-receiving portion of a thermal-type far infrared sensor was reduced to about a tenth of what it was before the phononic crystal structure was added

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• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South America photoelectric sensor market
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• The key findings and recommendations highlight crucial progressive industry trends in the South America photoelectric sensor market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth South America market trends and outlook coupled with the factors driving the photoelectric sensor market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution