Market Revenue Photoelectric Sensors Industry Production, CAGR | Page 2

Thru-beam, diffused, and retro-reflective are enhanced technologies used, that could be explored in
Photoelectric Sensor in the forecast period. The retro-reflective sector accounted for the largest market share
of Photoelectric Sensors and is estimated to continue its dominance in the coming years. This may be because
of low installation and maintenance cost and reliable for detecting transparent objects. Also, thru-beam sector
is estimated to grow at highest CAGR of 5.0% in the coming years, as allows stable operations.
The market may be categorized based on end use like packaging, automotive, electronics & semiconductor,
military & aerospace, and others could be explored in Photoelectric Sensors in the forecast period. The
automotive segment accounted for the largest market share in 2016 and is estimated to remain dominant in
the upcoming years. This may be because of rising use of these sensors in various automotive applications like
sensing shiny objects, allowing enhanced electronic power steering systems, and sensing automobiles in parking
lots. In addition, packaging sector is estimated to grow at highest CAGR in the coming years. The reason behind
the growth could be growing automation.
Globally, Asia Pacific accounted for the largest market share of 35.0% in 2016 and estimated to lead the overall
market in the coming years. Also, estimated to grow at highest CAGR of 7.0% between 2017 & 2025. The reason
behind the overall market growth could be, rising use of enhanced technology, increasing permeation of IIoT
across various industrial facilities, growing safety mandates. The developing countries like India and China are
the major consumers of Photoelectric Sensors in this region.
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Instead, North America and Europe are also estimated to have a positive influence on the future growth. North
America is the second largest region with significant market share. However, European market is estimated to
grow at significant rate and could be accredited to cumulative strict guidelines for industrial automation in
numerous industrial facilities in the region. Also, the Middle Eastern market is estimated to grow due to the
growing oil and gas industries in the region.
The key players of Photoelectric Sensors Industry are Schneider Electric SE, Panasonic Corporation, Autonics
Corporation, Keyence Corporation, and Rockwell Automation Inc. These players are concentrating on inorganic
growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are
the need of the hour.
Market Segment:
Photoelectric Sensors Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Diffused