Photoelectric Sensors Market Size, Share, and Trends 2024 to 2034

Photoelectric Sensors Market Size to Worth USD 5.96 Bn by 2034

The global photoelectric sensors market size was USD 2.09 billion in 2023, accounted for USD 2.30 billion in 2024, and is expected to reach around USD 5.96 billion by 2034, expanding at a CAGR of 10% from 2024 to 2034.

Photoelectric Sensors Market Key Takeaways

• Asia Pacific held the dominant share of the market in 2023.
• Europe is projected to expand at a rapid pace in the photoelectric sensors market during the forecast period.
• By end use, the automotive segment accounted for the dominating share in 2023.
• By end use, the packaging segment is expected to witness a significant rate of growth during the forecast period.
• By technology, the retro-reflective segment held the largest share in 2023.
• By technology, the thru-beam segment is expected to grow at the fastest rate during the forecast period.

Market Overview

The photoelectric sensors market offers devices that assist in detecting a dissimilarity in the light level received from the light source. The photoelectric sensor is generally made up of a light source, a signal converter, an amplifier, and an output. A device that uses light to find the absence or presence of an object is referred to as a photoelectric sensing element. The function of this device is that the sensor sends out a beam of light from the part of the sensor, also referred to as the emitter, and this light beam travels to the part of the sensor that collects the light, broadly known as the receiver.

Photoelectric sensors are widely used across various industries to serve multiple purposes. They are mainly used in industries such as automotive, transportation, food, military & aerospace, electronics & semiconductors, medical, and material handling. Photoelectric sensors are used to detect materials such as plastic, metal, and wood. This device can also detect some clear items, including plastic, liquids, and glass, depending on the type of sensor being used.

Photoelectric Sensors Market Growth Factors

• The growing focus on digitization and connected industries is likely to promote the growth of the photoelectric sensors market in the upcoming years.
• The rapidly rising penetration of the Industrial Internet of Things (IIoT), along with robust growth in automotive production and growing demand for processed food, led to an increasing demand for photoelectric sensors and assisted the industry in flourishing during the forecast period.
• Several supportive government policies promoting the activities of the manufacturing industry are anticipated to boost market demand during the forecast period.
• The rapid advancement in technology, such as the development of miniaturized sensors, improved sensing capabilities, enhanced communication protocols, and others, are projected to offer lucrative growth opportunities for the expansion of the photoelectric sensors market.
• Increasing adoption of photoelectric sensors in various industrial end-uses is expected to fuel the growth of the market.

Market Scope

Market Dynamics

Drivers

Growing emphasis on industrial automation

A growing focus on industrial automation is projected to boost the growth of the photoelectric sensors market during the forecast period. The increasing adoption of automation in industries is the prime driver for the market. Photoelectric sensors are used in manufacturing processes and assembly lines to detect an object's presence or absence. Photoelectric sensors enable safe human-robot collaboration as collaborative robots become more prevalent in industrial settings.

Photoelectric sensors enable real-time data for monitoring and control purposes across various sectors. In industries, photoelectric sensors are widely used to detect position misalignments. In addition, Photoelectric sensors are used for consumer electronics applications, such as tablets, smartphones, smartwatches, and cameras. The rising demand for consumer electronics may spur the demand for these sensors. Such supportive factors are driving the growth of the photoelectric sensors market during the forecast period.

Industrial automation along with technological advancements

The increasing demand for automation in manufacturing and industrial processes is a significant driver for the photoelectric sensors market. Photoelectric sensors play a crucial role in automation by detecting the presence, absence, or position of objects, enabling efficient and reliable operation of automated machinery and equipment. Ongoing advancements in sensor technology, including improvements in sensitivity, accuracy, reliability, and miniaturization, are driving market growth. Manufacturers are developing innovative photoelectric sensor solutions with enhanced features and capabilities to meet the evolving needs of industries such as automotive, electronics, packaging, and logistics.

Restraint

High maintenance costs of photoelectric sensors

The high maintenance costs of photoelectric sensors are anticipated to hamper the growth of the market. High cost is required for the proper maintenance of these advanced technologies. Small and medium-sized enterprises are often discouraged from adopting these technologies due to budget constraints. Additionally, the easy availability of competent alternative sensors may limit the adoption and restrict the expansion of the global photoelectric sensors market during the forecast period.

Opportunity

Robust growth of the medical sector

The robust growth of the medical sector is projected to offer a lucrative opportunity for the growth of the photoelectric sensors market during the forecast period. The medical sector deals with various medical devices and products that are used to fulfill given medical requirements. Photoelectric sensors are used for detecting positions and measurements of objects. This technology is capable of detecting the size, color, and shape of the entity.

It is used in contact lenses, blood glucose meters, surgical instruments, and pregnancy test kits. The photoelectric sensor is used in diagnostics and invitro analysis to detect liquids and voids. Thereby driving the market's growth.

Technology Insights

The retro-reflective segment dominated the photoelectric sensors market in 2023. The adoption of retro-reflective technology reduces maintenance and installation costs and is suitable for detecting transparent objects. Retro-reflective sensors have a dark-on, light-on mode switching control to change when the sensor's output turns on. It can easily detect small and large objects. This technology has a shorter detection range as the light has to travel to a reflector and then back to the sensor instead of just traveling straight to the receiver.

The thru-beam segment is observed to grow significantly during the forecast period in the photoelectric sensors market. These sensors have the emitter and the receiver in their separate components. This technology facilitates stable operation and has a more extended detection range than Retro-reflective and Diffused Photoelectric Sensors. Thru-beam sensor, light only has to travel in one direction to get from the emitter to the receiver. However, these sensors are expensive as they have two components that require two cables and two mounts, which takes up more space.

End-user Insights

The automotive segment held the dominating share of the photoelectric sensors market in 2023. Photoelectric sensors are widely used for multiple automotive applications, including detecting automobiles in parking lots, enabling advanced electronic power steering systems, identifying shiny objects, and enabling collision avoidance systems. With the increasing acceptance of wireless communication technologies, including Bluetooth and Wi-Fi, photoelectric sensors enable easier integration into existing systems.

• In July 2023, OmniVision launched an automotive image sensor, OX02C1S. A 2.5 MPixel RGB-IR BSI global shutter sensor, designed for in-cabin driver and occupant monitoring systems.

The packaging segment is observed to grow at a significant rate during the forecast period, owing to the increasing automation and increasing penetration of photoelectric sensors in the packaging industry. While photoelectric sensors can indeed be used in packaging applications for tasks such as detecting the presence of packages on conveyor belts, monitoring fill levels, or verifying label placement.

Regional Insights

Asia Pacific held the largest share of the photoelectric sensors market in 2023. The growth of the region is attributed to the presence of prominent market leaders, the rapid progress of industrialization, increasing penetration of IIoT across various industrial facilities, rapid adoption of advanced technology aimed at improving safety mandates, robust growth of the automotive industry, rising research and development activities, increasing awareness of innovative technology, stringent regulatory policies of the government, and increasing use of nanotechnology which results in creating significant growth opportunities for the photoelectric sensors market in the region.

Photoelectric sensors are rapidly gaining popularity in developing countries of the Asia Pacific region, such as India, Japan, and China. Robust growth of the end-user industries such as automobile, consumer electronics, automation of industrial processes, textile, food & beverages, healthcare, and others as photoelectric sensors are used to boost the productivity of manufacturing set-ups, and the data gathered by the sensors can be collated and acted upon immediately.

These sensors measure lighting intensity and can detect objects as well as control the speed of automatic processes.  Advanced technology, including diffuse sensors, retro-reflective sensors, and through-beam sensors, are most extensively used in the Asia Pacific region to detect small movements. With their high accuracy, affordability, and reliability, these sensors are suitable for performing a wide range of applications.

The European photoelectric sensors market is expected to grow at a significant CAGR in the coming years due to the increasing investment in the development of advanced technology, favorable government policy, rising use of nanotechnology, and increasing awareness of safety measures. European countries such as Spain, the U.K., France, Germany, and Russia are the major contributors to the market’s revenue in the region. Major key players in the region are emphasizing enhancing their product offerings through various strategic approaches.

North America is observed to witness a notable growth rate during the forecast period. Government initiatives aimed at promoting advanced manufacturing, technological innovation, and industrial competitiveness are creating a favorable regulatory environment for sensor manufacturers and users in North America.

These initiatives include research funding, tax incentives, and collaboration between industry stakeholders and academia to drive technological advancements and market expansion. Safety regulations and standards in North America are driving the adoption of photoelectric sensors for machine guarding, perimeter protection, and presence detection applications. These sensors help prevent accidents and injuries by detecting unauthorized access, hazardous conditions, or the presence of personnel in restricted areas, ensuring compliance with safety requirements.

Photoelectric Sensors Market Companies

• Omron Corporation
• Keyence Corporation
• Schneider Electric SE
• Panasonic Corporation
• Rockwell Automation Inc.
• Pepperl+Fuchs
• Balluff GmbH
• Banner Engineering Corp
• SensoPart Industriesensorik GmbH
• Fargo Controls
• Leuze Electronic
• HTM Sensors
• Fargo Controls Inc
• Leuze electronic GmbH + Co. KG
• Avago Corporation
• Autonics Corporation
• Baumer Corporation
• Eaton Corporation
• Sick AG

Recent Developments

• In March 2023, Panasonic developed an organic photoconductive film (OPF) CMOS image sensor technology. It is a superior color reproduction technology that minimizes color cross-talk and further reduces the sensitivity of each pixel.
• In September 2023, Cognex announced the launch of a new industrial vision sensor, the In-Sight SnAPP vision sensor. The In-Sight SnAPP sensor is designed for quality control applications such as presence or absence inspections, assembly verification, defect detection, and other automated inspection tasks.
• In June 2023, Ltd., a leader in optical device solutions with Japanese quality manufacturing based on world-class technology, announced 14 products of SWIR*1 type reflective sensor KPR series.
• In August 2022, Rockwell Automation introduced its inexpensive photoelectric sensor for worldwide operations. The 42JA VisiSight M20A series offers a wide range of monitoring modes in an encapsulated, small, cavity-free framework that decreases debris and facilitates simpler sensor cleaning.

Segments Covered in the Report

By Technology

• Diffused
• Retro-Reflective
• Thru-Beam

By End Use

• Automotive
• Military & Aerospace
• Electronics & Semiconductor
• Packaging

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa