Product Overview

Photoelectric sensors are sensors used to detect an object's color and distance. These sensors are location sensors that use diodes that emit light as the source of light. The sensor operates on the theory that light is transmitted to an object from the sensor, after which the light is again reflected to the photoelectric sensor. The sensor can measure the distance the target is away from it based on the time it took for the light beam to reach the object and be reflected. In a range of sectors, some of which include the building and automotive industries, photoelectric sensors are increasingly being used. In the industrial field, where they are used to detect location misalignments, photoelectric sensors are increasingly used. The sensors are mounted at fixed positions where it is possible to assess the positioning of a product and see whether it has been placed correctly or not. The information is transmitted based on data from the sensors to the necessary positioning equipment which can make corrections.

Market Highlights

Photoelectric Sensor Market is expected to project a notable CAGR of 7.12% in 2030.

Photoelectric Sensor Market to surpass USD 46.5 billion by 2030 from USD 1.94 billion in 2018 at a CAGR of 6.84% throughout the forecast period, i.e., 2019-30. In the manufacturing, packaging, and material handling industries, these sensors are used to perform functions such as the identification of transparent bottles, product presence monitoring, wafer detection in the vacuum conveyor system, and conveyor positioning control monitoring. They also improve the quality of processes, minimize process time and increase productivity. The growing adoption of different industrial end-uses is therefore expected to fuel market demand over the forecast period. Increased Industrial Internet of Things (IIoT) penetration has also led to a proliferation of demand. In all aspects of control and automation, industrial and process systems depend on sensors for accurate and precise data. This product is used by the Industrial Internet of Things to calculate positions, pressures, and other important output parameters.

Photoelectric Sensor Market: Segments

Fiber Optics Photoelectric Sensor segment to grow with the highest CAGR of 5.45% during 2019-30

Photoelectric Sensor Market has segmented by product type as laser photoelectric sensor and fiber optics photoelectric sensor. The greater market share in 2018 was accounted for by the fiber optics segment held the largest share of the photoelectric sensor market, and this trend is projected to prevail during the forecast period. Besides, the growth of the retro-reflective segment can be due to the increasing use of photoelectric retro-reflective sensors in industrial and pharmaceutical manufacturing and medical applications. These sensors have easy controls for wiring and optical axis change, allowing their operations to be unaffected, regardless of the colour or angle of the objects being targeted. In pharmaceutical and medical applications, retroreflective photoelectric sensors are used to prevent the empty packaging of tablets.

Thru-beam segment to grow with the highest CAGR of 5.2% during 2019-30

Photoelectric Sensor Market is segmented by technology into through-beam, reflective, diffuse. The greater market share in 2018 was accounted for by the retro-reflective segment and is expected to remain dominant over the forecast period. This system allows for decreased costs of maintenance and implementation and is suitable for transparent artefacts to be accurately identified. It can also detect large as well as small objects effectively. At a CAGR above 5.2 percent, the thru-beam segment is expected to increase. This technology offers advantages such as reliable operation and long-distance sensing, which is why the segment is also expected to gain momentum over the next coming years. Over the forecast period, the diffused segment is expected to increase at a moderate pace.

Packaging segment to grow with the highest CAGR of 5.2% during 2019-30

Photoelectric Sensor Market is segmented by application into automotive, military & aerospace, electronics & semiconductor, packaging. The automotive segment accounted for the increased market share in 2018 as these sensors are used in many automotive applications, such as allowing advanced electronic power steering systems, detecting cars in parking lots, and detecting shiny objects. The reduced costs associated with the manufacture of photoelectric sensors and compulsory emission regulations have also resulted in increased use in the automotive sector. Over the forecast period, the packaging segment is projected to display the highest CAGR. This growth is due to increasing automation in the packaging industry along with increased penetration of these products. Meanwhile, in the coming years, the electronics and semiconductor, military, and aerospace segments are expected to grow at a moderate rate.

Photoelectric Sensor Market: Market Dynamics

Drivers

Rising Adoption of Industrial Automation

Increasing automation across industries involving advanced technology and automated process control devices has improved manufacturing companies’ productivity, fostering high growth in the demand for photoelectric sensors. Via various optical properties, these sensors are used to detect objects, distance, and surface conditions, which has subsequently increased their usage in many industries. For instance, in an automobile assembly plant, the use of these sensors helps detect objects and their alignment. These sensors are also used for various industrial items, such as the positioning of cars in assembly lines, control elevators, garage door opening, and closing, automatic sink faucets, etc. As a result of these applications, the market for photoelectric sensors is increasing rapidly.

Increasing Government Initiatives

This is also expected that a gradual increase in military spending in developed and developing countries would fuel demand growth. In the military and aerospace industries, these sensors are used for the identification and tracking of biological agents to safeguard both military and civilian populations. Besides, during the forecast era, the advent of smart photoelectric sensors is expected to accelerate market growth. These intelligent sensors deliver various benefits, such as lower maintenance costs, increased reliability, reduced weight, and reduced downtime. Schneider, Baumer Group, Omron, Pepperl Fusch, Panasonic, and Banner are industry players in the photoelectric sensor business. Market players are investing heavily in R&D activities to advance existing technologies and provide clients with personalised products to stay competitive, increasing the growth of the photoelectric sensor market.

Restrain

Competent Alternative Technologies

The cost involved in the installation process is one of the barriers affecting the photoelectric sensor industry. Such sensors typically have high maintenance costs that hinder market development. For example, cars are expected to work in various atmospheric environments, which can vary from difference in altitude, coast to a desert environment, cold and summer climate conditions, and varying humidity, thereby contributing more to the cost of maintaining usability in different conditions. Maintenance of these sensors serves as another loophole on the market as the lens gets content over time.

Photoelectric Sensor Market: Key Players

Omron Corporation

Company Overview

Business Strategy

Key Product Offerings

Financial Performance

Key Performance Indicators

Risk Analysis

Recent Development

Regional Presence

SWOT Analysis

Keyence Corporation

Schneider Electric SE

Sick AG

Panasonic Corporation

Rockwell Automation Inc.

Pepperl + Fuchs

Sensopart Industriesensorik

Banner Engineering

HTM Sensors

Fargo Controls

Leuze Electronic

Cntd Electric Technology

Photoelectric Sensor Market: Regions

Photoelectric Sensor Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Photoelectric Sensor Market in Asia Pacific held the largest market share of XX.X% in the year 2018. Market growth in this area can be attributed to the increased demand for automation solutions from the automotive and transportation industries, industrial manufacturing, food and beverage, and photoelectric sensor packaging applications. Besides, the growing demand for nanotechnology has generated considerable opportunities for the APAC photoelectric sensor market to expand. The market is expected to grow in this area with the growing use of automated systems in sectors such as commercial electronics. Due to the presence of market players, manufacturers, and the high adoption of these sensors for industrial automation, the European photoelectric sensor market is expected to grow at a rapid pace during the forecast period. The incorporation of sensor technology propels the demand with the rise of urbanization.

Competitive Landscape:

The Photoelectric Sensor market, which is highly competitive, consists of several major players such as Omron Corporation (Japan), Keyence Corporation (Japan) holds a substantial market share in the Photoelectric Sensor market. Other players analyzed in this report are 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) among others.

The market competition has been stepped up by the availability of many players offering photoelectric sensors. October 2019-E3AS Series TOF Photoelectric Sensors with a compact size and 1,500 mm sensing distance have been published by Omron. Using time-of-flight (TOF) detection and an anti-fouling coating, its cutting-edge E3AS photoelectric sensors provide outstanding performance in the toughest environments.

Photoelectric Sensor Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Photoelectric Sensor Market report also contains analysis on:

Photoelectric Sensor Market Segments:

By Type:

Laser Photoelectric Sensor

Fiber Optics Photoelectric Sensor

By Technology:

Diffused

Retro-reflective

Thru-beam

By Application:

Automotive

Military & Aerospace

Electronics & Semiconductor

Packaging

Others

Photoelectric Sensor Market Dynamics

Photoelectric Sensor Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Contents

1. Executive Summary

2. Photoelectric Sensor Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7. Correlation & Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10. Photoelectric Sensor Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11. Photoelectric Sensor Market

11.1. Market Size & forecast, 2019A-2030F

11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12. Photoelectric Sensor: Market Segmentation

12.1. By Regions

12.2. By Regions

12.2.1. North America:(U.S. and Canada)

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America)

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe)

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific)

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa)

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2. By Type: Market Share (2020-2030F)

12.2.1. Laser photoelectric sensor, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.2. Fiber optics photoelectric sensor, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3 By Technology: Market Share (2020-2030F)

12.3.1. Through-Beam, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.2. Reflective, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.3. Diffuse, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4 By End-use: Market Share (2020-2030F)

12.4.1. Automotive, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.2. Military & Aerospace, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.3. Electronics & Semiconductor, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.4. Packaging, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.5. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

13. Company Profile

13.1.1. Omron Corporation.

13.1.2. Company Overview

13.1.3. Company Total Revenue (Financials)

13.1.4. Market Potential

13.1.5. Global Presence

13.1.6. Key Performance Indicators

13.1.7. SWOT Analysis

13.1.8. Product Launch

13.2. Keyence Corporation

13.3. Schneider Electric SE

13.4. Sick AG

13.5. Panasonic Corporation

13.6. Rockwell Automation Inc.

13.7. Pepperl + Fuchs

13.8. Sensopart Industriesensorik

13.9. Banner Engineering

13.10. HTM Sensors

13.11. Fargo Controls

13.12. Leuze Electronic

13.13. Cntd Electric Technology

14 Consultant Recommendation

**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)