Global Photoelectric Sensors Market Size, Share & Industry Trends Analysis Report By Technology, By Application (Automotive, Electronics & Semiconductor, Packaging, Military & Aerospace, and Others), By Regional Outlook and Forecast, 2023 - 2030

The Global Photoelectric Sensors Market size is expected to reach $2.8 billion by 2030, rising at a market growth of 6.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 37,495.1 thousand units, experiencing a growth of 6.2% (2019-2022).

Photoelectric sensors are widely used for object detection and proximity sensing in automotive manufacturing. Therefore, the automotive segment acquired $599.6 million in 2022. These sensors can witness the presence or absence of components on assembly lines, ensuring that the right parts are in the correct position for assembly. They contribute to automating processes, reducing errors, and improving production efficiency. These sensors are employed in adaptive lighting systems that adjust the brightness and direction of headlights based on environmental conditions. These sensors detect ambient light levels, oncoming traffic, and the vehicle's speed to optimize the illumination and enhance driver visibility.

The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In, October, 2023, Sick AG teamed up with Endress+Hauser Group Services AG, under this collaboration, the companies supported the customers in the areas of resource and energy efficiency. Additionally, the collaboration assisted in protecting the climate and the environment. Additionally, In, September, 2023, Rockwell Automation, Inc. came into a partnership with Everactive, Inc., under this partnership, the solutions of Everactive were combined with the Dynamix product portfolio of Rockwell Automation.

Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the Cardinal Matrix; Schneider Electric SE, Eaton Corporation PLC, Keyence Corporation and Panasonic Holdings Corporation are the forerunners in the Photoelectric Sensors Market. In, February, 2021, Keyence Corporation formed a partnership with StayLinked Corporation, under this partnership, the SmartTE software of StayLinked was incorporated into the latest mobile computer and rugged smart device, the BT-A700, of Keyence. Companies such as Rockwell Automation, Inc., Omron Corporation, Sick AG are some of the key innovators in Photoelectric Sensors Market

Market Growth Factors

Emergence of smart photoelectric sensors

Smart photoelectric sensors come equipped with advanced features and capabilities beyond traditional sensors. These sensors often incorporate microprocessors, communication interfaces, and onboard processing, enabling them to perform complex tasks and adapt to dynamic environments. The advent of smart sensors aligns with the principles of Industry 4.0, with a strong emphasis on integrating digital technologies into manufacturing processes. Smart photoelectric sensors contribute to the automation of industrial processes, improving productivity, reducing downtime, and enabling more agile and flexible manufacturing environments. This integration enables advanced functionalities such as object recognition, pattern analysis, and decision-making based on the sensor's input. AI-enhanced sensors open up new possibilities for automation and intelligent systems. Thus, the emergence of smart photoelectric sensors has positively impacted the market.

Increasing demand for non-contact sensing

Non-contact sensing eliminates the need for physical contact between sensors and objects. In industrial settings, this is crucial for ensuring equipment and personnel safety. The ability of these sensors to detect objects without direct contact contributes to implementing enhanced safety standards, leading to increased adoption in manufacturing environments. In industries where handling delicate materials is common, non-contact sensing with these sensors prevents damage to these materials. This is particularly important in applications such as electronics manufacturing, where precise and gentle handling of components is essential to avoid defects. They suit diverse applications across industries, from detecting transparent objects to identifying irregular shapes. Due to the increasing demand for non-contact sensing, the market is expected to expand.

Market Restraining Factors

Inability to operate in harsh environments

Harsh industrial environments, such as high dust, moisture, vibrations, or temperature extremes, are common in manufacturing plants and facilities. The inability of these sensors to operate effectively in these conditions limits their adoption in critical industrial applications. Industrial automation and control systems heavily rely on sensors for precise and reliable operation. The inability to operate in harsh environments can disrupt manufacturing processes, leading to inefficiencies, production delays, and potential quality issues. Harsh environments are prevalent in construction and mining operations, where sensors are exposed to dust, debris, and rugged terrain. The inability to withstand these conditions limits the applicability of photoelectric sensors in these industries. Photoelectric sensors that cannot withstand these conditions may face limitations in applications such as traffic monitoring and vehicle detection. Due to the above-mentioned factors, the market is expected to decline in the coming years.

Application Outlook

Based on application, the market is fragmented into automotive, packaging, electronic & semiconductor, military & aerospace, and others. The electronic & semiconductor segment projected a prominent growth rate in the market in 2022. These sensors precisely detect semiconductor wafers as they move along conveyor systems. These sensors ensure accurate positioning and movement control during various stages of semiconductor manufacturing processes. In semiconductor manufacturing, these sensors detect the position and alignment of lead frames. This is crucial for ensuring that the semiconductor chips are accurately mounted and bonded to the lead frames during packaging.

Technology Outlook

On the basis of technology, the market is segmented into retro-reflective, diffused, and thru-beam. The diffused segment acquired a substantial revenue share in the market in 2022. Diffused sensors find applications in various industries, including manufacturing, packaging, and logistics. Their versatility and ease of use make them a go-to choose for many automation scenarios. Diffused sensors often feature a compact and space-saving design. This makes them suitable for installations where available space is limited or where a discreet and unobtrusive sensor solution is preferred. The integrated design of diffused sensors reduces the components required, making them a cost-effective solution. The absence of a separate reflector or receiver unit contributes to overall cost savings in terms of both equipment and installation.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region registered the highest revenue share in the market. The expansion of safety regulations in developing nations such as Japan, China, and India, as well as the implementation of IIoT in industrial facilities, all contribute to the expansion of photoelectric sensor production in the region. The rapid expansion of end-user sectors such as consumer electronics, automotive, textile, and industrial is substantially driving the growth of the market because the data collected by the sensors can be immediately compiled and implemented to enhance the efficiency of manufacturing processes.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Omron Corporation, Panasonic Corporation, Rockwell Automation, Inc., Eaton Corporation Plc., Keyence Corporation, Schneider Electric SE, Autonics Corporation, SICK AG, Balluff GmbH, and IFM Electronic GmbH.

Strategies deployed in the Market

» Partnerships, Collaborations and Agreements:

• Oct-2023: Sick AG teamed up with Endress+Hauser Group Services AG, a global leader in measurement and automation technology. Under this collaboration, the companies supported the customers in the areas of resource and energy efficiency. Additionally, the collaboration assisted in protecting the climate and the environment.
• Sep-2023: Rockwell Automation, Inc. came into a partnership with Everactive, Inc., a deep technology company. Under this partnership, the solutions of Everactive were combined with the Dynamix product portfolio of Rockwell Automation. Additionally, the combined system offered data to the FactoryTalk MaintenanceSuite of Rockwell Automation for condition-based monitoring and assisting the maintenance teams to decrease asset-related downtime and reduce production costs.
• Aug-2022: Sick AG joined hands with Aeva Inc., a leader in next-generation sensing and perception systems. Under this collaboration, the companies incorporated the FMCW (frequency modulated continuous wave) 4D lidar into several industrial sensing and long-range sensing products of Sick AG.
• Feb-2021: Keyence Corporation formed a partnership with StayLinked Corporation, a market leader in Terminal Emulation for the supply chain industry. Under this partnership, the SmartTE software of StayLinked was incorporated into the latest mobile computer and rugged smart device, the BT-A700, of Keyence. Additionally, the partnership helped establish Keyence as an innovator in Automatic Identification and Data Capture (AIDC).
• Aug-2020: Schneider Electric SE formed a partnership with RS Americas, Inc., a United States-based provider of product and service solutions. Under this partnership, the companies offered a variety of digital resources to their customers. Additionally, the partnership provided the customers with several components to design and maintain cabinets and industrial control panels.
• Jul-2020: IFM Electronics GmbH formed a partnership with Software AG, a German multinational software corporation. Under this partnership, the companies provided the customers with direct plug-and-play solution packages for the Internet of Things. Additionally, the partnership offered analysis of sensor data and cloud-based visualization.

» Product Launches and Product Expansions:

• Mar-2023: Keyence Corporation introduced the LM-X multisensor measuring solution offering optical, laser, and touch-probe measurements. The new product offers high-accuracy measurements along with a simple button-press operation.
• Jan-2023: Panasonic Holdings Corporation launched hyperspectral imaging technology. The new technology helps in determining colour differences, which are negligible to the naked eye. Additionally, the new technology improves image analysis and accuracy in image recognition.
• Feb-2020: Panasonic Corporation unveiled a time-of-flight (TOF) image sensor that has the features of avalanche photodiode (APD) pixels. The new product determines the 3D information of images corresponding to the position of objects at distances up to 250 m. Additionally, the new product can be used in wide-area surveillance and automotive range imaging.

» Acquisition and Mergers:

• Mar-2022: Schneider Electric SE completed the acquisition of Aurtra Pty Ltd., a company delivering cost-effective IOT and SaaS asset management solutions. Through this acquisition, Schneider Electric enhanced its position as a digital provider of services in the value chain of electrical distribution.
• Feb-2022: Schneider Electric SE took over EnergySage, Inc., an American Boston-based company dealing in clean energy products. Through this acquisition, Schneider Electric assisted in the growth of EnergySage. Additionally, this acquisition helped the customers in their conversion to the use of renewable energy sources.
• Jan-2022: Eaton Corporation PLC acquired Royal Power Solutions, a company manufacturing electrical connectivity components. Through this acquisition, Eaton Corporation enhanced its growth in the e-mobility and electrical segments.
• Mar-2021: Eaton Corporation PLC completed the acquisition of Tripp Lite, an American manufacturer of power protection and connecting electrical devices. Through this acquisition, the products of Tripp Lite supplemented the distributed IT and edge computing product portfolio of Eaton Corporation. Additionally, the acquisition assisted in strengthening the single-phase UPS business.
• Jan-2021: Rockwell Automation, Inc. completed the acquisition of Fiix Inc., a cloud-based, AI-powered computerized maintenance management system (CMMS). Through this acquisition, Rockwell Automation enhanced its software strategy. Additionally, the acquisition helped improve business productivity and the performance of Rockwell Automation.

Scope of the Study

Market Segments Covered in the Report:

By Technology (Volume, Thousand Units, USD Billion, 2019-2030)

• Retro-reflective
• Diffused
• Thru-beam

By Application (Volume, Thousand Units, USD Billion, 2019-2030)

• Automotive
• Electronics & Semiconductor
• Packaging
• Military & Aerospace
• Others

By Geography (Volume, Thousand Units, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Omron Corporation
• Panasonic Corporation
• Rockwell Automation, Inc.
• Eaton Corporation Plc.
• Keyence Corporation
• Schneider Electric SE
• Autonics Corporation
• SICK AG
• Balluff GmbH
• IFM Electronic GmbH

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