Color Detection Sensors Market to Witness USD 3.01 billion by 2021

Color Detection Sensors use the inherent ability of differentiating objects by virtue of their colors. Each color is associated with a specific wavelength and these sensors analyze the wavelength of the light reflected from the surface of the object to identify its color. The color detection sensors form an integral component for the factory automation systems; wherein their low cost as compared to machine vision systems and image sensors makes them a preferred choice. The color detection sensors are also widely used in smart phones, laptops and other display devices for display control and monitor calibration.

The color detection sensor market is crucial for the success of industry automation on a global scale. This market has been witnessing tremendous growth due to increasing industries and new technological advancements. Advanced Economies also maintain a stable growth mainly due to reimbursements offered for specific equipment and health policies of government and private entities. Portability, customization, ease of use, and automation are the key factors that Color Detection sensors market players use to differentiate their products and services.

According to a recent study by IndustryARC, the global market for Color Detection Sensors is estimated to reach $3.01 billion by 2021, growing at a CAGR of 4.3%. The growing rate of industrial automation and the rising demand for smart electronics will contribute to the growth of this market in the forecast period. Smart electronics is one of the major segments where color sensors are installed. Smart electronics install color detection sensors for functions like backlighting adjustment, color temperature adjustment, contrast sensing among others. These sensors along with other sensors aid in complete automation of the appliance. The smart appliances segment, which was seen as a niche market segment, is expected to witness robust growth from 2016 to 2021. Beside other factors like increasing energy prices, changing lifestyles and preferences, the major factor driving the sales of smart electronics is the shifting focus of manufacturers from the low-profit, low-growth traditional electronics segment toward high-margin and revenue-oriented smart appliance segment. Companies such as Samsung and LG are likely to reap profits of first movers’ advantage.

The Europe region was the market leader in Color Detection Sensors market in 2015 with approximately 32% of the total market size and is estimated to grow at a CAGR of 3.9% through 2016 to 2021. The fastest growing market however will be APAC; wherein the growing number of industries and also the increasing buying power of the consumers will drive the growth.

The major players in Color Detection Sensors market include:

• SICK AG
• Banner Engineering Corporation
• SensoPart Industriesensorik
• Rockwell Automation Inc.
• Hamamatsu Photonics K.K.
• Pepperl+Fuchs GmbH
• Omron Corporation

The major manufacturers in this market have utilized product launches, product developments, acquisitions, mergers and expansions to broaden their presence in the interconnected markets and enhance core competencies through additions to product portfolio as well as improving the existing product line. Moreover, mergers and acquisitions help them to reduce competition and ease their entry into new markets.

Industrial automation promoting use of color detection sensors

Industrial automation has been a growing market these past years and emerging economies like China are driving the market. In 2014, according to International Federation of Robotics (IFR), the net robot sales increased by 29 per cent to 229,261 units. China contributed a share of 25% of the total supply and positioned itself as the biggest market in 2014. Industrial automation plays a vital role in production rate of the manufacturer. Industrial automation is considered a reliable process and speeds up the manufacturing process. Various sensors are used in automation equipment which are useful in quality check and fault detection.

Sensors incorporated in these systems work at a fast pace, never compromising on the quality check of the products. Sensors are used in maximizing productivity and minimise production errors. Color sensors are useful in verifying steps in manufacturing processes, detecting color marks on parts and product packaging. Sensors have proved to be better than humans in the field of quality control and are persistent. Automation of manufacturing plants is increasing in various industries like packaging, automotive, textile, chemicals, pharmaceuticals and others. Increasing demand for finished products is also encouraging companies to adapt to automation.

Currently, Europe is leading shareholder in color detection sensors market, with Germany being the largest producer of automated robots in this region. Asia Pacific is expected to take over Europe in coming years with nations like China and Japan proceeding with automation at a faster rate. Automation equipment consist numerous sensors, these sensors work accurately and precisely. Technological advancements in these systems will further propel the growth of this market. Automated systems help in preserving resources and cause less wastage. These systems are energy efficient and have less impact on environment as compared to conventional systems. Automated systems are smart systems and user friendly, the market for such systems is anticipated to grow leading to growth of color sensors market.

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