Global Edge Sensor Market 2023-2030

Global Edge Sensor Market 2023-2030

Global Edge Sensor Market Size, Share & Trends Analysis Report by Sensor Type (Laser Edge Sensors and Ultrasonic Edge Sensors), and by Application (Assembly and Robotics, Automotive, Food, Packaging, and Others) Forecast Period (2023-2030)

The global edge sensor market is anticipated to grow at a CAGR of 7.2% during the forecast period. The growth of the edge sensor market is attributed to the increasing demand for automation in factories and rising awareness about safety in industrial applications. Edge sensors are used to detect the presence of an object or edge along the perimeter of a workpiece. They are commonly used in industrial and manufacturing applications, where they can be used to automate tasks or improve safety. The growth of the market is attributed to factors such as increasing demand for automation and robotics in various industries, and the growing integration of sensor technology for precision and accuracy in edge detection and measurement. In addition, the growing launches of new and advanced solutions from market players to cater to the rising demand are anticipated to propel the growth of the market. For instance, in October 2022, SICK launched the new Roller Sensor Bar (RSB) as an addition to its extensive portfolio of photoelectric sensors. This sensor provides the logistics and production markets with a reliable solution to accommodate the ever-increasing variety of packaging shapes and sizes, and that provides a quick and easy installation experience. Traditional sensors are mounted above the side frame and require installers to align and teach the sensor to a reflector at the end consumer, leading to high costs. SICK offers the RSB as a solution to high installation costs and packaging variations to help logistics and production processes run smoothly and efficiently.

Segmental Outlook

The global edge sensor market is segmented based on sensor type and application. Based on sensor type, the market is bifurcated into laser edge sensors and ultrasonic edge sensors. Both of these sensors are widely used in industries such as manufacturing, automotive, and packaging for precise edge detection and positioning. Based on the application, the market is categorized into assembly and robotics, automotive, food, packaging, and others. Among the sensor types, laser edge sensors are expected to witness significant growth during the forecast period.

Laser Edge Sensor to Register Significant Growth Over the Forecast Period

Among the sensor types, laser edge sensors are anticipated to witness significant growth during the forecast period. Laser edge sensors are devices that emit a laser beam to measure the distance from the sensor to an object. These sensors are used in a variety of applications such as measuring the level of liquids, determining the position of objects, and detecting breaks in optical fibers. The growth of laser edge sensors is attributed to factors such as their high accuracy and suitability for various applications requiring precise edge detection. They are widely used in the automotive industry. According to International Energy Agency, a total of 3 million electric cars were sold in 2020 and the number of electric cars sold doubled in 2021 to reach 6.6 million units. This represents a significant increase in market share in recent years. The growth of electric and hybrid vehicles is anticipated to prope the demand for laser edge sensors in the market.

Regional Outlooks

The global edge sensor market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Each region has a significant presence of industries where edge sensors are extensively used. The market can be analyzed at a particular regional or country level as per the requirement. Among these, Europe is anticipated to witness prominent growth in the edge sensor market over the forecast period, owing to the presence of a strong manufacturing and automotive sector, which drives the demand for edge sensors.

Global Edge Sensor Market Growth, by Region 2023-2030

Source: OMR Analysis

The Asia Pacific Region is Anticipated to Hold a Significant Share in The Global Edge Sensor Market

Among all regions, the Asia-Pacific region is projected to experience significant growth in the edge sensor market during the forecast period. The region is witnessing rapid industrialization, especially in countries such as China and India. The growing integration of advanced technology and sensor-based equipment in industries such as automotive, electronics, and manufacturing sectors in Asia-Pacific is anticipated to propel the market growth in the region.

Market Players Outlook

The major companies serving the global edge sensor market include company a, company b, company c, and others. These market players are considerably contributing to market growth by adopting various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. They are also focusing on research and development activities to enhance sensor capabilities and cater to the evolving demands of industries. For instance, in August 2021, Industrial automation equipment maker, Banner Engineering partnered with Amazon Web Services (AWS) for expanding the range of IoT (Internet of Things) solutions in the AWS marketplace by certifying multiple products to be compatible with AWS IoT Core.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global Edge Sensor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.