Report Predicts Nearly 6% Growth for Photoelectric and Photointerrupter Sensors
A new report from technology market research and strategy consulting firm Venture Development Corp., Natick, Mass., suggests that photoelectric and photointerrupter sensor demand will be the biggest contributor to the overall growth of the North American proximity and photoelectric sensor market.
The report predicts a combined compound annual growth rate of 5.8% for the two sensor types through 2007, compared to a projected overall North American growth rate of 4.7%. The current photoelectric and photointerrupter sensor market comprises 41%, the largest share of the $617.2 million proximity and photoelectric sensor market.
Photoelectric and Photointerrupter (CAGR = 5.8%): $253.3
Other* (CAGR = 3.6%): $363.9
Overall (CAGR = 4.7%): $617.2
Photoelectric and Photointerrupter (CAGR = 5.8%): 300.4
Other* (CAGR = 3.6%): $408.1
Overall (CAGR = 4.7%): $708.5
* Includes capacitive, inductive, magnetic, magnetic actuated and ultrasonic types
CAGR = Compound Annual Growth Rate
Material handling, packaging equipment and electronics/semiconductor manufacturing equipment applications accounted for the largest industry shares of 2004 photoelectric shipments, and nearly half of 2004 shipments of photointerrupter sensors went to office automation equipment applications.