The photoelectric sensors have played a significant role in a wide range of industries over the years. More and more sensors and devices are being deployed across industries due to continuous technological advances in automation. With the rising smaller electronics chips, the efficiency and the cost-effectiveness of the photoelectric sensors have improved.
What are the major drivers behind the market growth of the photoelectric sensor industry?
Smartelctra
The global photoelectric sensors market size is expected to reach approximately US$ 2 billion by 2025 from the US $ 1 billion in 2018.
A photoelectric sensor is a special type of proximity sensor to detect the gap and presence in its specified range of any object. It is used primarily for photo-optical device detection.
The demand from the chemicals, engineering, automotive, and other industries for photoelectric sensors is increasing significantly. The increasing demand for photoelectrical sensors in many industrial applications such as manufacturing, packaging, and material handling industries, drives the growth of the global market for photoelectric sensors.
They are used for functions such as transparent bottle detection, product monitoring and conveyor location control monitoring. The usage of photoelectric sensor technology can increase operating efficiency, reduce process time and increase productivity.
However, the market growth of photoelectric sensors is impeded by the cost of a photoelectric optical fibre sensor. The photoelectric optical fibres are ideally designed for extreme conditions such as high heat, toxic, corrosive and explosive situations. Moreover, it is also versatile and can be placed accurately. Due to its high-cost factor, the market for a fibre optic photoelectric sensor is relatively low.
Haseeb
The hottest trends in the sensor industry are the sensor miniaturisation, leading development, opening up new ways of data collection. Several sensors with a low profile and very low power demands are required in most applications. The major growth factor for the photoelectric sensor industry is digitalisation. Smart sensors play a major role in the collection and interpretation of information with too many IoT applications.
The growing popularity of photoelectric sensors is due to its ability to detect materials of any kind, such as metals, wood, plastics, liquid or glass, which also drives the demand for photoelectric sensors. The evolving industrial IoT and smart sensing device are also expected to enhance the market for photoelectric sensors which require sensor-based measurements for analysis and decision support purposes.
Teleco
The increasing regulations around the world on fuel emissions together with the increased use of photoelectric sensors in automotive applications such as failure diagnostics, throttle control, contactless position sensing and precise position measurement for better control are major drivers behind the market growth.