Owing to benefits such as high accuracy, long life, and low cost, photo interrupters are increasingly being utilized in various industrial applications. Moreover, the surge in demand for advanced automation solutions has further accentuated the need for efficient photo-interrupter devices.
With the need for better automation and accuracy, photo interrupters are gaining traction in various industrial and home applications and their demand is expected to increase in the coming years. Various companies and businesses are adopting photo interrupters. These factors have further propelled the demand for photo interrupters thus, increasing the dependence on this market.
Rapid applications across home appliances, industrial equipment, office equipment, and consumer electronics to detect the presence or absence of an object within its sensing range are encouraging impressive growth in the worldwide photo interrupters market. They are also widely used in safety switches, encoders, sensors & switches, security systems, door locks, level controls, and other automated systems like automatic windows & doors. The market consistently undergoes a series of developments in order to provide better services.
Advantages such as low cost, good reliability, high sensitivity, and a wide range of applications have made photo interrupters increasingly popular in a variety of industries. These factors encourage further adoption of the photo interrupter market in the long run.
Considering these factors, it is reasonable to say that the global photo interrupters market is growing at an appreciable compound annual growth rate (CAGR) of 6%. It is expected that the market might acquire a size of USD 1.7 billion during the period of forecast, that is, 2021-31.
Photo interrupters, also known as opto-interrupters or optical switches, are electronic components used to detect the presence or absence of an in a specific range of distances by breaking the light beam across the two parts of the device. They are used to control the flow of electricity between two points and can either be transmissive or reflective types. Transmissive-type photo interrupters feature an infrared transmitter and receiver placed on opposite sides of a slot that detects objects passing through it, while reflective-type photo interrupters comprise a single unit with both transmitter and receiver located on the same side.
A significant rise in the growth of global photo interrupters is because of the increasing demand from numerous end-use industries such as industrial equipment, office equipment, home appliances, consumer electronics, and others. The growing adoption of automation solutions across various industries is also expected to boost market growth over the next few years. Additionally, technological advancements in sensors and detectors have enabled manufacturers to develop advanced photo interrupters that offer better accuracy and reliability compared to conventional models.
However, the main disadvantage is that these devices are sensitive to ambient light, which can cause false triggering. Additionally, they have limited power handling capabilities and short life cycles due to wear and tear caused by frequent switching operations. Finally, they require additional circuitry for a proper operation which adds to the overall cost of the system. In spite of these limitations, the market is registering a considerable rate of growth because of the advancements that have been taking place accompanied by an increased level of knowledge about this field.
The key players in the photo interrupters market are Omron Corporation (Japan), Allegro MicroSystems LLC (USA), Pepperl+Fuchs Group (Germany), Baumer Group (Switzerland), Shanghai Fudan Microelectronics Group Co. Ltd. (China), Panasonic Corporation (Japan), Broadcom Limited (USA), Avago Technologies Ltd. (USA), Keyence Corporation (Japan), and CEL Components S.p.A. (Italy). among others. These players compete with each other in the market and each of them aims to earn higher profits and acquire a position above that of their competitors in the market.
Reflective Type to Remain the Most Lucrative Segment
On the basis of type, the photo interrupters market is classified into the transmissive type and reflective type. Transmissive-type photo interrupters are used in industrial equipment such as robotic arms, gaming machines, sensors, and other factory automation applications. Reflective-type photo interrupters are used in office equipment such as laser printers, copiers, scanners, and other automated office machines. Among the two, reflective-type photo interrupters are expected to witness the highest growth rate during the forecast period.
The Industrial Equipment Segment to Ensure Maximum Revenue
The global photo interrupter market has been segmented on the basis of application into industrial equipment, office equipment, home appliances, consumer electronics, and others. The industrial equipment segment is expected to grow at the highest CAGR during the forecast period due to increasing demand for automation solutions in manufacturing and process industries across the world.
North America is Expected to Yield Ample Investment Avenues
North America dominates the global photo interrupter market due to increasing demand for automation solutions across various sectors in the region. The U.S. is the leading market for photo interrupters in North America owing to the presence of major players such as Honeywell International Inc., Omron Corporation, and Rockwell Automation Inc.
Covid-19 Impact and Market Status
The crisis of the novel coronavirus was received by different industries in varying manners. The production process got adversely affected and the flow of raw materials was disturbed. The demand and supply chain was impacted negatively. The COVID-19 pandemic has had a significant impact on the photo interrupters market. The outbreak of the pandemic has led to a decline in demand for photo interrupters from end-use industries such as industrial equipment, office equipment, home appliances, consumer electronics, and others. This is due to the widespread economic slowdown and supply chain disruptions across the globe. The pandemic has also resulted in the temporary shutdown of factories and production facilities of key players in the photo interrupters market. As a result, there aren't enough of the raw materials and parts needed for manufacturing. In addition, the epidemic has forced the cancellation or postponement of a number of business conventions and activities. This has somewhat slowed the market's expansion. The market is expected to recover in the coming quarters as the demand is likely to rise with the resumption of production and revival of industries.
Latest Innovations in the Global Photo interrupters Market: a Snapshot
• In 2021, the first-ever exchange-traded fund (ETF) tracking the performance of the global hemp and cannabis market, was launched on the London Stock Exchange. The ETF is called "Cannabis and Hemp Sector UCITS ETF" and is managed by ETF provider Global X. This ETF will track an index of 30 companies in the industry, including Canopy Growth Corporation, Aurora Cannabis Inc., Aphria Inc., Cronos Group Inc., and Tilray Inc.
• In addition to this, a number of other ventures have been announced that involve both hemp-derived products and cannabis-based products, indicating the growth potential for this industry. In March 2021, Constellation Brands announced that it would launch a line of CBD-infused beverages in Canada.
Photointerrupters Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 1.7 billion|
|Growth Rate||CAGR of 6 % during 2021-2031|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Omron Corporation (Japan), Allegro MicroSystems LLC (USA), Pepperl+Fuchs Group (Germany), Baumer Group (Switzerland), Shanghai Fudan Microelectronics Group Co. Ltd. (China), Panasonic Corporation (Japan), Broadcom Limited (USA), Avago Technologies Ltd. (USA), Keyence Corporation (Japan), and CEL Components S.p.A. (Italy). among others|
Key Segments of the Photointerrupters Market
By Type Overview, 2021-2031 (USD Billion)
• Transmissive Type
• Reflective Type
By Application Overview, 2021-2031 (USD Billion)
• Industrial Equipment
• Office Equipment
• Home Appliances
• Consumer Electronics
By Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa