Report : Middle East and Africa Photoelectric Sensor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Retro-Reflective, Thru-Beam, and Diffused) and End-use (Automotive, Military and Aerospace, Electronics and Semiconductor, Packaging, and Others)
Retro-Reflective is expected to be the fastest growing segment during the forecast period 2021–2028
According to a new market research study on “Middle East & Africa Photoelectric Sensor Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology and End-use,” is expected to reach US$ 195.06 million by 2028 from US$ 128.31 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa photoelectric sensor market along with the drivers and restraints pertaining to the market growth. Incorporation of pulse ranging technology, amplifying demand for photoelectric sensor in pharmaceuticals industry, and assurance and reliability of photoelectric sensor are the major factor driving the growth of the Middle East & Africa photoelectric sensor market. However, excessive installation and maintenance costs hinder the growth of Middle East & Africa photoelectric sensor market.
The major countries in the MEA facing the economic impact of COVID-19 pandemic include Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. The region is projected to register a swift decline in exports due to lowered demands for raw materials and products from manufacturers across North America, Europe, and APAC; this can be attributed to lowered production activities and disruption of manufacturing in many countries in these regions. Irrespective of the previous projections regarding steady growth of the photoelectric sensor market in the MEA due to escalating adoption of the IIoT, to enhance resource utilization, improve efficiencies, and enhance worker safety, in Saudi Arabia and the UAE, the imposition of travel restrictions and disruption of supply chains are limiting the photoelectric sensor market growth to a certain extent.
The photoelectric sensor market is segmented based on technology, end-use and country. Based on technology, the market is segmented into retro-reflective, thru-beam, and diffused. In 2020, the retro-reflective segment held the largest share in the market and the same segment is expected to be the fastest growing during the forecast period. Based on end-use the market is segmented into automotive, military and aerospace, electronics and semiconductor, packaging, and others. In 2020, the automotive segment held the largest market share and the packaging segment is expected to the fastest growing over the forecast period. Similarly, based on country the market is segmented into the UAE, South Africa, Saudi Arabia, and Rest of Middle East & Africa. In 2020 South Africa held the largest market share and it is also expected to the fastest growing over the forecast period
Autonics Corporation; Balluff GmbH; Eaton Corporation plc.; ifm electronic GmbH; OMRON Corporation; Rockwell Automation, Inc.; Panasonic Corporation; SICK AG; and Schneider Electric SE are among the leading companies in the Middle East & Africa photoelectric sensor market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, the ifm group has been a member of the ADAMOS network, which is a strategic alliance of world market leaders in mechanical and plant construction for the future topics of Industry 4.0 and the Industrial Internet of Things (IIoT) since October 2020.
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