Keywords: Photoelectric Sensors, Internet of Things, Information-Driven Manufacturing
Rather than develop independently, the photoelectric sensor market tends to develop in line with other automation markets, such as programmable logic controllers (PLCs) and programmable automation controllers (PACs). According to a new ARC Advisory Group market outlook report, photoelectric market growth in North America and Europe balanced a contraction in Asia where leading suppliers suffered weak performances. As a whole, the photoelectric sensor market grew moderately in 2014.
“The automotive, machinery, and food & beverage industries account for over 50 percent of the total worldwide market. Each enjoys double-digit market shares, surpassing all other consuming industries. ARC believes that they will continue to exhibit above-average market growth throughout the forecast period,” according to Stefan Miksch, principal author of the “Photoelectric Sensors Global Market Research Study”.
Information-Driven Manufacturing
The photoelectric sensor market is impacted by several major automation trends that relate to the needs of end users and OEMs. For example, the trend toward information-driven manufacturing increases requirements for sensor-based data from machinery, production lines, and other manufacturing assets. For some applications, photoelectric sensors are the only types of sensors that can provide the needed data in a practical and cost-effective manner.
Automotive Industry Is Most Important End User Industry
Automotive has become the most important end user industry for photoelectric sensors, and the strong growth will continue as capital investments continue in 2015. These investments are a residual effect from the 2009 financial crisis, when auto manufacturers cut back investments by well over 30 to 40 percent. The 2011 tsunami in Japan also resulted in significant investments in automotive as Japanese auto companies build up factories in the US. Another driver for growth in this industrial sector, is the strong development in emerging economies where large global automotive companies are building new and highly automated manufacturing sites.
Reshoring of Manufacturing in North America
One regional trend worth mentioning is the reshoring of manufacturing in North America. This is a large factor for automation investment in this region. Government initiatives to reestablish manufacturing in the US showed positive signs, and we expect this trend to continue. This also applies for Mexico.
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