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The Global Photoelectric Sensors Market size is expected to reach $1.8 billion by 2023, rising at a market growth of 5% CAGR during the forecast period. The sensors are widely used in manufacturing, packaging, and material handling industries, and are used to perform functions such as detection of transparent bottles, monitoring products, detection of wafers in vacuum conveyor system, and monitoring of conveyor positioning control. The adoption of the technology leads to increased operational efficiency, decreased process time, and enhanced productivity. The growing adoption of the technology in various industrial sectors would boost the market growth during the forecast period.
Based on Technology, the market report segments the market into Retro-reflective, Diffused, and Others. Based on Application, the Photoelectric Sensors market segments the market into Automotive, Packaging, Electronic & Semiconductor, Military & Aerospace, and Others. Based on Regions, the Photoelectric Sensors market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the Global Photoelectric Sensors Market. Key companies profiled in the report include Omron Corporation, Panasonic Corporation, Rockwell Automation, Inc., Eaton Corporation Plc., Keyence Corporation, Schneider Electric SE, Autonics Corporation, SICK AG,Balluff GmbH, and IFM Electronic GmbH.