The global photoelectric sensors market has maintained a long-term market leadership; however, recently new groups of sensors such as ultrasonic sensors as well as low-end vision sensors are competing with photoelectric sensors by functioning in similar application areas. While these sensors not only maintain a competitive edge by being price competitive, they also add value for end-users with more functionality. Major factors contributing to the photoelectric sensors market growth are increased automation in industries such as automotives, food & beverages, and process industries along with upsurge in adoption of sensors by defense and IT sectors. The advent of nanotechnology has generated new opportunities for market growth.
http://www.grandviewresearch.com/industry-analysis/photoelectric-sensors-market
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