IMARC Group, a leading market research company, has recently releases report titled “Optical Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global optical sensors market share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Optical Sensors Market?
The global optical sensor market size reached US$ 21.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.0 Billion by 2028, exhibiting a growth rate (CAGR) of 10.3% during 2023-2028.
What are Optical Sensors?
Optical sensors are transducers that convert physical amounts of light into electric signals based on the requirement. Some commonly available product variants include internal and external optical sensors. They resist extreme temperatures and chemically reactive environments and can operate in a dynamic wavelength range. They also have high optical resolution and are quite sensitive. As a result, optical sensors find extensive applications across the consumer electronics, automotive and transportation, healthcare, and industrial sectors across the globe.
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What are the growth prospects and trends in the optical sensors industry?
The global optical sensor market is primarily driven by rising demand for energy-efficient devices. Moreover, the versatility, compactness, and light weight of optical sensors have led to the widespread integration of numerous electronics with advanced features, such as automatic brightness management, 3D mapping, restore recognition, and biometric identification.
In line with this, the increasing use of ambient sensors in vehicles to detect the position of curbs and nearby vehicles while parking, automatically dim headlights, and improve visibility in adverse weather conditions has catalyzed market growth. Furthermore, the development of molecularly imprinted nanoparticles (MIP)-based optical sensors at the nanoscale that exhibit enhanced performance than their conventional-sized counterparts is contributing to the market growth.
Other factors, including escalating demand for optical sensors in wearable healthcare devices, rising use of building automation solutions, and rapid expansion in the consumer electronics industry, are also anticipated to create a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Intrinsic Optical Sensors
- Extrinsic Optical Sensors
Breakup by Operation:
- Through-Beam
- Retro-Reflective
- Diffuse Reflection
Breakup by Sensor Type:
- Fiber Optic Sensor
- Image Sensor
- Photoelectric Sensor
- Ambient Light and Proximity Sensor
- Others
Breakup by Application:
- Pressure and Strain Sensing
- Temperature Sensing
- Geological Survey
- Biometric
- Others
Breakup by Industry Vertical:
- Consumer Electronics
- Industrial
- Aerospace and Defense
- Oil and Gas
- Automotive
- Healthcare
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ams-OSRAM AG
- Analog Devices Inc.
- Broadcom Inc.
- Hamamatsu Photonics K.K.
- Honeywell International Inc.
- ifm electronic gmbh
- Keyence Corporation
- OMRON Corporation
- Panasonic Holdings Corporation
- Rockwell Automation Inc.
- Rohm Co. Ltd.
- STMicroelectronics
- Texas Instruments Incorporated
- Vishay Intertechnology Inc.
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