TechNavio recognizes the following companies as the key players in the Global Photonic Sensor Market: OMRON Corp., Mitsubishi Electric Corp., Banner Engineering Corp., and Honeywell International Inc.
Commenting on the report, an analyst from TechNavio’s Hardware team said: ”There is increased R&D spending on photonic sensors. The leading vendors in the market, such as OMRON, Mitsubishi Electric, Banner Engineering, and Honeywell International, have increased their investment in R&D of photonic sensors. These vendors have discovered huge potential in this market, which is motivating them to invest more in R&D. Furthermore, the vendors in this market are in the process of developing a proper set of technology standards through the R&D process. The increased R&D spending has also improved the accuracy and efficiency of photonic sensors. This is attracting more end-users and is leading to increased profits for vendors.”
According to the report, the Global Photonic Sensor market is growing due to the presence of several growth drivers. One of the major growth drivers is the increasing demand for photonic sensors in the Industrial sector. Photonic sensors are considered the perfect solutions for most industrial applications. This is because these sensors are used in sensing applications in the most critical conditions of manufacturing such as high temperature.
Further, the report states that the major challenge in the market is the high cost of photonic sensors. Photonic sensors are used in critical applications that require high precision equipment, which is very expensive. This increases the cost of these sensors.
The report also includes a discussion on the other vendors operating in this market, such as Baumer Holding AG, Fibertronix AB, Fiso Technologies Inc., and Lap Laser LLC.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-photonic-sensor-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Hardware market research, please visit https://www.technavio.com/hardware
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TechNavio Announces the Publication of its Research Report – Global Photonic Sensor Market 2012-2016
