|By Business Wire||
|November 15, 2012 11:34 AM EST||
Research and Markets (http://www.researchandmarkets.com/research/kdxjpd/global) has announced the addition of the "Global Photoelectric Sensor Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Photoelectric Sensor market to grow at a CAGR of 1.87 percent over the period 2011-2015. One of the key factors contributing to this market growth is the increasing focus on automation. The Global Photoelectric Sensor market has also been witnessing the increasing adoption of photoelectric sensors in Defense and IT sectors. However, the recession in the economy could pose a challenge to the growth of this market.
Key vendors dominating this space include Banner Engineering Corp., ifm Efector Inc., OMRON Corp., and Sick AG.
Other vendors mentioned in the report are Balluff GmbH, Baumer Electric, Pepperl+Fuchs, and Schneider Electric S.A.
Commenting on the report, an analyst from TechNavio's Hardware team said: ''In addition to the major sectors such as Aerospace, Healthcare, Consumer Electronics, and Automotive, there has been an increase in the adoption of photoelectric sensors in the Defense and IT sectors.''
According to the report, photoelectric sensors are being increasingly deployed in factories to detect and control the movement of products during various manufacturing processes. As a result, the growing need for automation will in turn increase the demand for photoelectric sensors.
Further, the report discusses that one of the main challenges is the diminishing demand for photoelectric sensors owing to the economic recession.
For more information visit http://www.researchandmarkets.com/research/kdxjpd/global