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Asia Pacific Photoelectric Sensor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology and End-use

Asia Pacific Photoelectric Sensor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology and End-use

  • August 2021
  • 138 pages
  • ID: 6134251
  • Format: PDF
  • The Insight Partners

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The photoelectric sensor market in Asia Pacific is expected to grow from US$ 585.10 million in 2021 to US$ 1034.51 million by 2028; it is estimated to grow at a CAGR of 8.5% from 2021 to 2028.

The rising need for of sensor and technological developments to solve complex challenges is encouraging innovations in photoelectric sensor.The pulse ranging technology (PRT), which can calculate object’s distance by using the principal of direct light propagation time measurement method, can be valuable in commercial industrial applications.

PRT sensor provide accurate and continuous distance data with digital or analog outputs.In addition, positioning PRT sensor on each side of the carton and measuring these distances would also provide dimensions of pallets or cartons, which can be used to calculate the volume of the pallet or carton.

The technology is expected to further improve the efficiency and accuracy of line assembly by providing comprehensive details of materials in production or operational process.This technology would be highly useful in pharmaceuticals and food & beverages industries.

Thus, the PRT-enabled photoelectric sensor are likely to emerge as a prominent trend in future.

Asia Pacific is consisted with several developing countries, high industrial presence, and positive economic outlook.Increasing urbanization and industrialization in these countries is presenting ample growth opportunities to the photoelectric sensor market players.

The increasing use of enhanced technologies; growing adoption of Industrial Internet of Things (IIoT) across various industrial facilities; rising safety mandates in developing countries such as India, Japan, and China are propelling the adoption of photoelectric sensor in the region.The COVID-19 outbreak has brought the entire manufacturing sector to a halt, causing major supply chain disruptions.

As a result, the shortage of raw material required for photoelectric sensor manufacturing is expected to worsen further, as the key raw material suppliers are located in China and Taiwan.The trade war between the US and China has had a negative effect on trade of raw materials as well as on the demand for photoelectric sensor.

Further, the scarcity of raw materials has led to increase in their prices, resulting in high photoelectric sensor manufacturing costs.

The photoelectric sensor market is segmented based on technology and end-use.Based on end-use, the market is segmented into automotive, military and aerospace, electronics and semiconductor, packaging, and others.

Packaging is expected to be the fastest growing segment during the forecast period.The photoelectric sensor market for the packaging segment is growing significantly.

A present, several companies from diverse industries are using photoelectric sensor to increase their operational efficiency and reduce errors involved in packaging process.For instance, food & beverage companies use the photoelectric sensor technology in their bottle cap feeding assembly line to avoid cap feeding errors throughout their operations.

Similarly, the sensor are used to check the existence of chocolates in the pillow wrappers while passing through the packaging machine. Further, photoelectric sensors are widely used in the pharmaceutical industry to detect empty packaging of tablets and help in filing of bottles.

The Asia Pacific photoelectric sensor market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Asia Pacific photoelectric sensor market with respect to all the market segments.Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic.

The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific photoelectric sensor market. Autonics Corporation; Balluff GmbH; Eaton Corporation plc.; ifm electronic GmbH; OMRON Corporation; Rockwell Automation, Inc.; Panasonic Corporation; SICK AG; Schneider Electric SE; and Keyence Corporation are among the leading companies in the market.

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