Expert Market Research’s new report titled “Global Optical Sensors Market Size, Share, Price, Trends, Growth, Outlook, Report and Forecast 2021-2026”, provides an in-depth analysis of the global optical sensors market, assessing the market based on its segments as LED, LASER and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 11%
Due to their ability to withstand harsh environments, optical sensors are seeing major deployment in the aerospace and defense industry. Additionally, remote sensing is becoming a major factor in the growing adoption of optical sensors for temperature measurement in chemical plants and furnaces. Meanwhile, optical pressure measurement sensors are commonly used in the oil and gas industry, driving the growth of the optical sensor industry.
Additionally, the connectivity industry’s hands-on approach to using fiberglass cable creates opportunities for business growth. Rising investment in smart cities, smart buildings, and smart home initiatives is creating a growth opportunity for the optical sensor industry. Optical sensors such as temperature, pressure, image and motion sensors are expected to be widely used in industries such as healthcare, consumer electronics and automotive.
Industry definition and major segments
An optical sensor converts light into electrical signals. It converts light into a form perceptible by an instrument and measures the physical quantity of light. Electrical stimulation is connected to the optical sensor, which reacts to changes in the signal. Light wavelength differences can be detected by the optical sensor. Optical sensors can operate in single point or distribution point mode. A single-phase change is required to activate the sensor in the single-point process. The sensor, as well as a group of sensors in the distribution point system, is reactive.
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By origin, the market is divided into:
On the basis of operation, the market is categorized into:
• Barrier sensor
• Retro-reflective sensor
• Diffuse reflection sensor
By Type, the market is split into:
On the basis of product, the market is segmented into:
• Fiber optic sensors
• Image sensors
• Photoelectric sensors
• Ambient light and proximity sensors
• Infrared detectors
Based on Application, the market is split into:
• Pressure and strain detection
• Temperature detection
• Geological survey
• Biometrics and atmosphere
By End Use, the market is split into:
• Aeronautics and Defense
• Oil and gas
• Consumer electronics
Regional markets for the product include:
• North America
• Asia Pacific
• Latin America
• the Middle East and Africa.
The growing popularity of wearable health devices in developed economies is expected to boost the revenue of the optical sensor industry. According to reports, around 21% of American adults wear a smartwatch or wearable fitness tracker daily; as a result, industry leaders are launching technically advanced products with optical sensor technology to meet the growing demand for wearable health devices.
The growing demand of the optical sensor industry is fueled by the expansion of the IoT system. The increasing adoption of consumer electronic devices is indirectly increasing the demand for optical sensors. The advent of smartphones with features such as 3D imaging, restoration recognition, eye tracking, etc. paved the way for the adoption of optical sensors. The advantages of optical sensors such as their light weight, compact size, passive nature and dynamic detection range help to control the growth rate of the market.
Main market players
The major market players are Vishay Intertechnology, Inc, ROHM Co., Ltd, Analog Devices, Inc, ams AG, and Oxsensis. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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