- May 26, 2016
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.
Color Detection Sensors are used in Industries for Automation purposes to distinguish between products based on their characteristic Colors. The Color Detection Sensor Market has been seeing an incredible growth because of Technological Advancements, Increase in Demand by Emerging Industries and End Users like Food and Beverage Industries and because of changing Global Investment patterns. Players in the Color Detection Market distinguish products by their Ease of use, Automation Capability, Portability and Level of Customization.
The Color Detection Sensor Market is classified into 4 primary segments:
- By Type,
- By Use Cases,
- By Verticals and
- By Geographical Analysis,
Each of these segments is further divided into sub-segments. Further segmentations and sub-segmentations are highlighted and explained in depth in the report by IndustryARC.
Market Drivers: The Industry Automation Industry is growing at a rapid rate and is a Primary Growth Driver for the Color Detection Sensors Market. The demand for Color Sensors in the Food & Beverage Industry has also increased. Color Sensors are also being preferred over Image sensors because they are more Cost Efficient, Faster and Easily Replaceable. The demand for the Color Detection Sensors has also grown because of its Improving Quality and Precision along with its Diminishing Package Size.
Market Growth: The Color Detector Market has had tremendous growth and the Market is expected to expand even more in the future. This growth in the Market is primarily because of the Changing Global Investment Patters and because of Increase in Automation needs by Industries. Research by IndustryARC predicts that the Color Detection Sensor Market will grow at healthy CAGR in the period of 2016-2021. It is also predicted that the Color Detection Sensors Market size will grow to revenue $30.1 Billion by the year 2021.
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.
Europe was the largest market for color detection sensors in 2015; APAC will replace Europe and emerge out as the largest market in the forecast period. APAC derives its growth from newly establishing industries and technological advancements.
Key Players: The Color Detection Sensor Market has multiple key players that have a sizeable chunk of the market share. Presently, SICK AG, Banner Engineering, SensoPart and Rockwell Automation are the top four companies in the market who together occupy approximately 61% of the market share in this field. SICK AG dominated the market with a massive 21% of the market share whereas the 3 other companies occupy 12-15% of the market share.
The complete list of the key players and their market share, product portfolio and in-depth analysis can be found in the Market Report published by IndustryARC.
About IndustryARC: IndustryARC is a Research and consulting firm that publishes more than 500 Reports Annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
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