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Photoelectric sensors market to grow at CAGR of 7.0%NEW YORK, May 20, 2019 /PRNewswire/ -- The photoelectric sensors market is expected to grow from USD 1.4 billion in 2019 to USD 2.0 billion by 2024 at a CAGR of 7.0% during the forecast period. Need for photoelectric sensors is mainly governed by rising adoption of industrial automation and increasing government initiatives. However, competent alternative technologies such as inductive, capacitive, ultrasonic which serve the relatively same purpose can hinder the growth of the market. APAC is expected to record the highest growth rate during the forecast period APAC is expected to have the highest growth rate during the forecast period due to an increasing number of automation activities in industrial processes, government initiatives for driving smart industries, and established market for manufacturing in China, Japan, and South Korea. China is a global manufacturing hub for semiconductor and automotive manufacturers. Breakdown of primary participants' profile: • By Company Type: Tier 1 – 27%, Tier 2 – 41%, and Tier 3 – 32% • By Designation: C-Level Executives – 26%, Directors – 40%, and Others – 34% • By Region: North America – 47%, Europe – 28%, APAC – 19%, and RoW – 6% Omron Corporation (Japan), Keyence Corporation (Japan), Panasonic Corporation (Japan), Rockwell Automation, Inc. (US), Sick AG (Germany), Schneider Electric (France), IFM Electronic FZC (Germany), Balluff (Germany), Pepperl & Fuchs (Germany), and Banner Engineering (US) are among the leading players in the photoelectric sensors market. Research Coverage: Various market segments have been covered in this report.These include technology, range, structure, beam source, output, application, and region. It also gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW. Reasons to Buy the Report: • This report includes statistics pertaining to the photoelectric sensor market in terms of technology, range, structure, beam source, output, application, and region along with their respective market sizes. • Major drivers, restraints, opportunities, and challenges for the photoelectric sensor market have been provided in detail in this report. • The report includes illustrative segmentation, analysis, and forecast for the photoelectric sensor market based on its segments and subsegments. Download the full report: https://www.reportbuyer.com/product/5776881/?utm_source=PRN About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +1 (718) 213 4904 Website: www.reportbuyer.com View original content:http://www.prnewswire.com/news-releases/photoelectric-sensors-market-to-grow-at-cagr-of-7-0-300853404.html SOURCE ReportBuyer |