Miniature Photoelectric Sensors Market is anticipated to grow at a CAGR of 3.9% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Miniature Photoelectric Sensors Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global Miniature Photoelectric Sensors Market accounted for over ~US$ 0.7 billion in 2019. It is anticipated to grow at a CAGR of 3.9% from 2020 to 2030.
Photoelectric sensors are devices that emit a light beam (infrared or visible) to detect the presence or absence of objects, equipment, changes in surface conditions, and others. It consists of an emitter that emits light and a receiver that receives light. The target object or surface is identified when the emitted light is interrupted or reflected by an object causing a change in light patterns, which is measured by the receiver. Miniature photoelectric sensors are designed for applications with limited mounting space. Miniature photoelectric sensors are commonly utilized in packaging, food & beverage, material handling, and other industrial manufacturing fields.
Factors such as small & slim size, snout mountable in tight locations, simple set-up, and the adoption of new devices for automating processes across different industries are boosting the demand for miniature photoelectric sensors. Also, they are versatile for a wide range of automated control applications with the same features & benefits of large sensors, which is adding to the growth of the market. Moreover, it is also anticipated that a gradual increase in defense spending across developed and emerging countries would fuel the market growth. Such devices are utilized for biological agent identification & monitoring in the military and aerospace sectors to protect both the defense as well as civilian populations.
However, the contamination of lens over the course of time and complex installation processes involved in setting up the transmitter and the receiver at two separate locations such as in the case of thru-beam sensors are likely to hamper the growth of the miniature photoelectric sensors market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Miniature Photoelectric Sensors Market By Range (<250mm, 250mm-500mm, and >500mm), By Technology (Thru-Beam Sensor, Retroreflective Sensor, and Diffuse Sensor), By Output Type (Analog and Digital), and By Application (Automotive, Food & Beverage, Packaging, and Electronics & Semiconductor) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/miniature-photoelectric-sensors-market/387
North America is estimated to account for the largest market share in the miniature photoelectric sensors market owing to factors such as several manufacturing facilities automating different processes, technological advancements, and the growing penetration of the IIoT across numerous industrial facilities, among others. Asia Pacific is also estimated to account for the highest CAGR in the miniature photoelectric sensors market during the forecast period owing to factors such as rising economies, adoption of new technologies for industrial automation, and an increasing number of industries shifting the market toward the miniature photoelectric sensors market. Leading countries, such as China, South Korea, and India, in the APAC region are likely to witness growth opportunities in the market during the forecast period. Europe is also expected to witness growth opportunities due to increasing investments in R&D coupled with the strong presence of manufacturing industries in the region.
Some of the prominent players in the miniature photoelectric sensors market include Rockwell Automation, Inc., Panasonic Industry Europe GmbH, Baumer, SICK AG, Pepperl+Fuchs Inc., SensoPart Industriesensorik GmbH, Banner Engineering Corp., Contrinex HQ, Guangzhou HeYi Electronic Technology Co., Ltd., and others.
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