Photoelectric Sensors

The Photoelectric Sensors market research report delivers current market analysis plus a five-year market and technology forecast. The study is available in multiple editions including worldwide and all regions. The market is expected to grow at a single-digit CAGR during the forecast period due to the uncertainties owing to the coronavirus pandemic.

Photoelectric Sensors Market Influenced by Largescale Digital Transformation

The Photoelectric Sensors market revenues declined in 2020 due to the detrimental impact of the coronavirus pandemic and is expected to revive from 2021 onwards, subject to how the global economies deal with the existing pandemic situation. 

All major economies have witnessed a strong decline in 2020, except Asia, which witnessed a negligible growth in revenues. Asia held the maximum share, followed by the EMEA region, North America, and Latin America. 

With the increasing adoption of Industry 4.0 and Internet of Things (IoT) solutions, the demand for intelligent sensors will continue to grow, especially from factory automation as this capability enables them to use their equipment and machines with far greater flexibility than before.   

The market for photoelectric sensors is dominated by SICK, OMRON, Keyence, Leuze, and Panasonic. Overall, our analysis suggests that broad automation portfolios clearly enable suppliers to garner secure leadership positions.

Photoelectric Sensors Strategic Issues

In addition to providing a five-year market forecast, the Photoelectric Sensors market research report provides detailed quantitative current market data and addresses key strategic issues as follows.

Strategic Issue for Vendors: Adoption of Latest Technologies

Leading companies typically do not rely only on their installed base, but also position themselves as technology leaders. Technology leaders can increase market share while avoiding price competition by adopting technological trends early and working closely with key customers to stay a step ahead of the growing number of followers.  

Strategic Issue for Users: Service Offerings

OEMs often stick to their current suppliers of photoelectric sensors. In Asia, price still plays an important role, while in Europe reliability and embedded intelligence are important buying criteria.

Strategic Issue for All Market Participants: Coronavirus Pandemic

The coronavirus outbreak has caused disruptions to global supply chains and business operations. While the pandemic significantly impacted the 2020 demand for photoelectric sensors, the market projections do take into account industry trends with ARC’s best estimates for how the pandemic will impact the photoelectric sensors market in different industries.