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    Color Sensors Market Report

    Color Sensors Market Report
    Report code - SR1272 Delivery - 2 Weeks
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    Color Sensors Market Trends, Dynamics & Market Insights
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    Market Insights

    The Color Sensors Market is estimated to grow from USD 1.8 billion in 2020 to USD 2.9 billion by 2026 at a healthy CAGR of 8.5% during the forecast period.

    Figure: Color Sensors Market Size, 2020-2026 (USD Billion)

    Color-Sensors-Market-Forecast

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    What is a color sensor?

    A color sensor detects the color of the surface, mainly on the RGB scale. Color is the result of interaction between a light source, an observer, and an object. Color sensors have a wide variety of applications such as choosing the right product, detection of the environment and sorting. There are different types of color detection sensors contrast, brightness, luminescence, print mark sensors, and RGB.

    Key Players

    Key players operating in the color sensors market are-

    • Sick AG (Germany)
    • EMX Industries Inc (US)
    • InfraTec GmbH (Germany)
    • CTi Automation (US)
    • Panasonic Corporation (Japan)
    • ASTECH GmbH (Germany)
    • Banner Engineering (US)
    • Keyence Corporation (Japan)
    • Baumer Atlas (US)
    • HiTechnic Products (US).

    Market Dynamics

    A strong rise in the automation sector along with high-efficiency demands is a key driver for color sensors. Also, growing demand from the food & beverage sector who are particular about their packaging. Future advancements in optics, electronics, and software are likely to promulgate the color sensors which output the reading intensity and color value. Moreover, innovations in technology, growing development in the automation sector, increasing global investment patterns, and increasing demand from petrochemicals, packaging, textiles, hardware, and chemicals among others which boosts the industry growth.

    Segment's Analysis

    Type

    Based on type, the color sensors market is categorized into brightness sensor, contrast sensor, molecular luminescence sensor, RGB sensor, printed mark sensor, and others. The molecular luminescence sensor segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. Luminescence sensors detect visible and non-visible marks which illuminate when using ultraviolet (UV) light. Fluorescent material and marks are reliably detected independently of their colors, pattern, or surface conditions on any material, which further bolsters the segment growth. 

    Regional Trends

    By region, the North American market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to its expertise in technology-driven aspects. As per the International Trade Administration, the US is a major global producer of industrial automation equipment, broadly defined as the hardware and components used to automate systems in manufacturing or industrial settings. Moreover, increasing capital expenditures in industries further proliferates regional market growth.

    COVID-19 Impact on Color Sensors Market

    The COVID-19 outbreak has positively influenced the color sensors industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly which made people stuck in their homes with limited movement. The industrial operations were halted due to limited workforce and supply chain disruption, which further negatively affected the product demand.

    Critical Questions Answered in the Report

    • What are the key trends in the color sensors market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the color sensors market?
    • What are the key strategies adopted by the major vendors to lead in the color sensors market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the color sensors market hopes to have the greatest opportunity to convert-

    • Color sensors vendors
    • Color sensors retailers
    • Consumer electronic companies
    • Industrial sector

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    Frequently Asked Questions (FAQs)

    The color sensors market is expected to witness an impressive growth of 8.5% CAGR in the foreseeable future.

    Sick AG (Germany), EMX Industries Inc (US), InfraTec GmbH (Germany), CTi Automation (US), Panasonic Corporation (Japan), ASTECH GmbH (Germany), Banner Engineering (US), Keyence Corporation (Japan), Baumer Atlas (US), and HiTechnic Products (US) are among the key players in the color sensors market.

    The color sensors market size is expected to reach USD 2.9 billion in the coming years.

    The molecular luminescence sensor segment is expected to register healthy CAGR in the color sensors market in the coming years.

    North America is expected to grow at a substantial CAGR in the color sensors market during the next five years.

    Color sensors vendors, Color sensors retailers, Consumer electronic companies, Industrial sector are the target audience in the color sensors market.