Photoelectric Sensor Global Market Report 2024

A photoelectric sensor is a device that emits a light beam from its light-emitting element. These sensors find applications in consumer electronics, industrial manufacturing, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, packaging, and other sectors.

The primary types of photoelectric sensors include proximity photoelectric sensors and fiber optic photoelectric sensors. Proximity photoelectric sensors detect objects directly in front of them by sensing the sensor's own transmitted light reflected from an object's surface. On the other hand, fiber optic photoelectric sensors detect mechanical strain or temperature, concentrations of chemical species, acceleration, rotations, pressure, vibrations, and displacements. The technologies employed in photoelectric sensors include retro-reflective, through-beam, and diffused. The range of detection varies, including ≤100 mm, 100 to 1,000 mm, 1,000 to 10,000 mm, and >10,000 mm. These sensors play a crucial role in various sectors such as consumer electronics, industrial manufacturing, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, and packaging.

The photoelectric sensor market research report is one of a series of new reports that provides photoelectric sensor market statistics, including photoelectric sensor industry global market size, regional shares, competitors with a photoelectric sensor market share, detailed photoelectric sensor market segments, market trends and opportunities, and any further data you may need to thrive in the photoelectric sensor industry. This photoelectric sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The photoelectric sensor market size has grown strongly in recent years. It will grow from $1.93 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the increased adoption of automation and industrial robotics, the growth of consumer electronics, advancements in semiconductor technology, the implementation of automotive safety and driver assistance systems, and the rising demand in the healthcare and medical sectors.

The photoelectric sensor market size is expected to see strong growth in the next few years. It will grow to $2.91 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to the adoption of IoT and Industry 4.0, miniaturization and sensor integration, increased use in autonomous vehicles, the expansion of smart cities and infrastructure, and the growth of robotics and industrial automation. Major trends in the forecast period include the implementation of lidar and time-of-flight sensors, advancements in 3D imaging and gesture recognition, the development of wireless and battery-free sensor technology, the use of sensing solutions for environmental monitoring, and the promotion of human-machine collaboration through sensors.

The anticipated surge in demand for photoelectric sensors across various industries like consumer electronics, automotive and transportation, building automation, food and beverages, pharmaceuticals and medical, packaging, and industrial manufacturing is set to propel the market during the forecast period. For instance, automated systems in consumer electronics, automotive, and building automation, such as doors and gates on buses, trains, elevators, and garages, rely on reliable sensing technology. Photoelectric sensors, combined with infrared scanners, can detect approaching people or vehicles, ensuring precise opening and closing of doors. This increased demand in diverse applications, including the automotive sector, is expected to be a driving force for the photoelectric sensor market.

The growing demand for automobiles is poised to drive the photoelectric sensor market in the coming years. Automobiles, designed for passenger transportation and goods transport, increasingly incorporate photoelectric sensors to detect objects, monitor distances, and provide essential data for safety and automation. In 2022, global motor vehicle production reached 85.4 million units, reflecting a significant 5.7% increase compared to 2021, as reported by the European Automobile Manufacturers Association. The automotive sector achieved approximately 78 million unit sales in 2022, marking a substantial 10% increase from the previous year, according to Brand Finance plc. Hence, the rising demand for automobiles is a key driver for the photoelectric sensor market.

Major players in the photoelectric sensor market are concentrating on enhancing the sensing range of these sensors, enabling them to detect objects at greater distances for a wider range of applications. For example, Omron Corporation introduced the E3AS sensor range in February 2021, which employs fiber optic cables for small part detection and provides an extensive sensing range of 50 to 1,500 millimeters (mm).

The emergence of smart photoelectric sensors represents a noteworthy trend in the market. Smart photoelectric sensors, equipped with built-in microprocessor-based intelligence, offer advanced capabilities for optimization and increased reliability. These sensors are becoming more prevalent, delivering features like advanced self-diagnostics and compatibility with sensor networks. Unlike conventional photoelectric sensors, smart sensors with microprocessor chips can initiate alarm signals to the controller and flash LED in case of issues like accumulated dust on the lenses. This ensures early warnings and efficient problem resolution, making smart photoelectric sensors a rising trend in the market.

In April 2021, Amphenol Corporation acquired MTS Systems Corporation for an undisclosed amount, aiming to expand its presence in sensor and sensor-based products. MTS Systems Corporation is a manufacturing company based in the US that specializes in the development of photoelectric sensors.

Major companies operating in the photoelectric sensor market include Schneider Electric SE, Panasonic Holdings Corporation, Omron Corp., Sick AG, Keyence Corporation., Rockwell Automation Inc., Balluff Inc., Banner Engineering Corp., Tri-Tronics, Baumer group, Hans Turck GmbH & Co., Pepperl+Fuchs SE, di-soric GmbH & Co. KG, Eaton Corporation plc., IFM Electronic GmbH, Autonics Corporation, Contrinex AG, Lumasense Technologies Inc., SensoPart Industriesensorik GmbH, Leuze electronic GmbH + Co. KG, Optex Group, Joyson Safety Systems, Capella Microsensors LLC, Telco Sensors Inc., Riko Opto-Electronics Technology Co. Ltd., OmniVision Technologies, Senix Corporation, Hamamatsu Photonics, Sony Corporation, Sharp Corporation, Laser Components GmbH

Asia-Pacific was the largest region in the photoelectric sensor market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the photoelectric sensor market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the photoelectric sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The photoelectric sensor market consists of sales of proximity photoelectric sensors and fiber optic photoelectric sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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