According to a Persistence Market Research (PMR) report, titled "Color Detection Sensor Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)’, growth in the automation industry to will strengthen revenue share of the global color-detection sensor market in the coming years. The report purports the pressing need for advanced automation across the globe has triggered the demand for related products as well such as color detection sensors. It states that the global color-detection sensor market is expected to witness a CAGR of 9.35% from 2017 to 2025. The market valued at $1,013.8 Million in 2017 and is expected to cross $2,069.1 Million by the end of 2025.
Highlights
- Colo- detection sensor market is flourishing due to the growing adoption of color detection sensors in printing and packaging and in textile applications. Color detection sensor companies are likely to focus on providing advanced products to increase their market share and brand footprint in the global market. For instance, Omron Corporation has introduced E2E Next Generation Proximity Sensors that will enhance the operation rates in the automobile industry. The other leading companies operating in the market include Rockwell Automation, Inc., ams AG, SICK AG, Datalogic S.p.A., Hamamatsu Photonics K.K., and Panasonic Corporation.
- The rise in the packaging market in several regions such as Europe, North America, and Asia Pacific is creating lucrative opportunities for the color detection sensor market. Color detection sensors are extensively used in the packaging industry to ensure the correct positioning of the packaging material before closing or filling in the operations.
- Asia Pacific is a prominent market for semiconductor manufacturing equipment companies and is also one of the leading regions investing in the research and development of semiconductor devices and equipment. As a recent research and development trend, the governments of various countries such as India, Japan, and China have started to take initiatives for the development of applications based on new semiconductor technologies and devices. The demand for sensors and other IC-related products is expected to increase soon, due to the expanding IoT applications in such countries.
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