Photoelectric Sensors Global Market is Projected to Reach $2.6 Billion by 2030: Rising Demand in Packaging Applications Fuels Growth

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Jun 19, 2023, 19:00 ET

DUBLIN, June 19, 2023 /PRNewswire/ -- The "Photoelectric Sensors: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Photoelectric Sensors estimated at US$1.6 Billion in the year 2022, is projected to reach a revised size of US$2.6 Billion by 2030, growing at a CAGR of 6.5% over the analysis period 2022-2030.

Retroreflective, one of the segments analyzed in the report, is projected to record a 6.1% CAGR and reach US$1.3 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Through-Beam segment is readjusted to a revised 6.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $347 Million, While China is Forecast to Grow at 7.6% CAGR

The Photoelectric Sensors market in the U.S. is estimated at US$347 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$551.4 Million by the year 2030 trailing a CAGR of 7.6% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 5.6% respectively over the 2022-2030 period.

Within Europe, Germany is forecast to grow at approximately 5.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$286.2 Million by the year 2030.

Select Competitors (Total 53 Featured) -

Banner Engineering Corporation
CNTD Electric Technology Co., Ltd.
Fargo Controls Inc.
HTMSensors
Keyence Corporation
Leuze Electronic, Inc.
Omron Corporation
Panasonic Corporation
Pepperl+Fuchs SE
Rockwell Automation, Inc.
Schneider Electric SE
SensoPart Industriesensorik GmbH
Sick AG

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Impact of COVID-19: As 2020 Draws to a Close, It Has Been a Year of Astounding Disruption
COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
Industrial Activity Remains Subdued, Inducing Weakness into Photoelectric Sensors Market
Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
Global PMI Index Points for the Years 2018, 2019 & 2020
COVID-19 Pandemic Disrupts the Photoelectric Sensor Market
Photoelectric Sensors: An Introduction
Challenges faced in Detecting Dark Objects
Uses of Photoelectric Sensors
Photoelectric Sensor Types
Applications of Photoelectric Sensors
Global Photoelectric Sensors Market: Prospects & Outlook
Global Photoelectric Sensors Market by Region: Growth Rate (in %) for 2020
Global Photoelectric Sensors Market by End-Use: Growth Rate (in %) for 2020
Analysis by Type
World Photoelectric Sensors Market by Type (2020 & 2027): Percentage Breakdown of Sales for Retroreflective, Through-Beam, and Reflective
World Photoelectric Sensors Market by Source (2020 & 2027): Percentage Breakdown of Sales for Standard, and Laser
Analysis by Application
World Photoelectric Sensors Market by Application (2020 & 2027): Percentage Breakdown of Sales for Industrial Manufacturing, Consumer Electronics, Automotive & Transportation, Food & Beverage, Packaging, and Other Applications
Regional Analysis
World Photoelectric Sensors Market by Region (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
World Photoelectric Sensors Market - Geographic Regions Ranked by CAGR (Sales) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Japan, Canada, and Europe
Competitive Scenario
Recent Market Activity
Select Innovations
Select Global Brands
Photoelectric Sensors - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Industrial Manufacturing: Largest End-Use Sector
Industry 4.0 & Smart Factory to Steer Future Expansion
Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
Automotive & Transportation: Fastest Growing Vertical
World Automobile Production in Million Units: 2008-2022
Sustained Opportunities in Consumer Electronics Sector
Global Consumer Electronics Market by Region (2020): Percentage Breakdown of Revenues for North America, Europe, Asia-Pacific (Incl. Japan), Middle East, and Latin America
Global Market for Smartphones in Billions: 2016-2021
Smartphone Penetration Rate as Share of Total Population: 2016-2021
Increased Importance in Food & Beverages Industry Augurs Well
Rising Demand in Packaging Applications
Building & Home Automation: Another Potential End-Use Domain
Fast Evolving Role of Industrial IoT to Steer Next Wave of Growth
Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
Emphasis on Workplace Safety Bodes Well for Future Expansion
Breakdown of Annual Work Related Fatalities (In Thousand) by Region
Workplace Safety Index: Cost to Businesses in US$ Billion by Disabling Workplace Injuries
Strong Smart City Investments to Fuel Large-Scale Adoption
Number of Smart Cities Worldwide by Geographic Region (2025)
Innovations & Advancements
Next-Generation Photoelectric Sensors Come to the Fore
Global Sensor Industry: A Complementary Overview
World Sensors Market by End-Use Segment (2020): Percentage Breakdown of Dollar Sales for Automobile Applications, Process & Manufacturing Industries, Machine Tools & General Machinery, HVAC & Building Control, Office Automation & Communication, and Other Markets

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/x8sfww

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