Press release
Photonic Sensors Market Shares SWOT Analysis, Key Development Strategies and Forecasts Till 2026
The Photonic Sensors Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Photonic Sensors market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Photonic Sensors market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Photonic Sensors market.The Photonic Sensors market was valued at USD 13.25 billion in 2020 and is expected to reach USD 26.65 billion by 2026, at a CAGR of 16.93% over the forecast period (2021 - 2026).
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Top Leading Companies of Photonic Sensors Market are - Banner Engineering Corp., Baumer Holding AG, STMicroelectronics NV, DataLogic, Omron Corporation, Sick AG, Keyence Corporation, Pepperl+Fuchs GmbH, Rockwell Automation, Autonics Corporation and others.
Industry News and Updates:
- June 2018: Omron announced the construction of the second factory of OMRON (Shanghai) Co. Ltd., in the city of Shanghai, China, to ramp up the capacity of various types of control equipment and thereby, meet the voracious demands for automation on factory floors in the country.
- May 2018: Hamamatsu Photonics announced the construction of a new factory at the main factory site to meet growing sales demand for its opto-semiconductor module products.
Key Market Trends:
Energy and Power to hold Significant Share
- Optical and photonic sensors are specifically used in three very different applications relating to energy harvesting and the production of power, namely solar thermal and PV systems, the oil and gas industry, and wind turbines.
- Electricity generation from wind energy is rapidly growing in the United States and worldwide, and could provide at least 20% of the nation’s electricity by 2030. This trend is driving the need for larger multi-megawatt turbines, for onshore and offshore utility-scale operation, with rotor diameters well exceeding 100 to 120 m.
- As wind turbines increase in size and capital cost, there is a growing need to incorporate early-warning wind shear measurements and turbine structural health monitoring to optimize the design, operation, and maintenance of the wind turbine and to protect it against dangerous wind gusts.
Asia-Pacific to Witness Highest Growth
- The Asia-Pacific region is expected to witness the highest growth rate over the forecast period. Growth in the region is fueled by increasing defense/military spending in China and India, and the industrial automation trend in these nations.
- For instance, the Government of China offers substantial military budgets for the incorporation of modern technology, owing to reforms by the Chinese communist party. According to SIPRI, Indian military spending, in 2017, was USD 63.9 billion.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Photonic Sensors Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Photonic Sensors Market (%),2016 - 2026
- Photonic Sensors Market Share, By Brand
- Photonic Sensors Market Share, By Company
- Photonic Sensors Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Photonic Sensors Market Value Analysis & Forecast
- Promising Photonic Sensors Development by Major Companies
- Detailed Photonic Sensors Portfolio of the Major Companies
- Major Deals in the Photonic Sensors Market
- Major Companies Analysis
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We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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