The Optical Sensors Market was valued at US$ 2.31 Bn. in 2021. The Global Optical Sensors Market size is estimated to grow at a CAGR of 15.2 % over the forecast period.
Optical Sensors Market Overview:The report explores the Optical Sensors market's segments (Type, Application, Industry Vertical, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Optical Sensors market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Optical Sensors market's contemporary competitive scenario. To know about the Research Methodology :- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2027. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Optical Sensors Market Dynamics:Optical sensors act as transducers by converting the physical quantity light to electric signals, which can be interpreted, measured, analyzed, and manipulated by instruments. These sensors have the ability to detect electromagnetic radiation of various wavelengths usually ranging from infrared up to ultraviolet. China and the United States are emerging as leading destinations for optical sensors on account of the heavy presence of end-use industry. They have become ideal contact-less detectors and are being used in various industrial and consumer application. Innovation and development boost the growth of the market. The optical sensor market is segmented on the basis of type, industry vertical, application and region. High adoption of optical sensors by major key industry verticals is driving the growth of the optical sensor market. The major driver for optical sensors industry are the growing prevalence of smartphones and smartwatches which are considered as the intensive users of optical sensors. Consumer electronic devices are integrated with optical sensors for various applications such as device security, gesture recognition, facial recognition. The rising demand for on-screen fingerprint sensor technology in smartphones will provide growth opportunities for the market. The varied end-user applications of the optical sensing market includes, oil & gas market, healthcare, construction, transportation, and increasing demand of these industries have a tremendous influence on the growth of the optical sensor market. The growing utilization of alternatives rather than optical sensors is hindering the overall growth of the market. Majorly aerospace and defense industry verticals are showing attention in the maximum deployment of optical sensors due to its capability to stand-in harsh environment. The challenge for the optical sensor market is the price of the optical sensors and the deployment in the number of end-users. The need for higher resolution lenses has increased with increasing demand for consumer electronics. Such factors have increased the pressure for the emerging market players for the reduction of optical sensors.
Optical Sensors Market Trends:The global optical sensors market is forecast to grow at significant pace, owing to the increasing adoption of smartphones, technological advancements in optical sensors. Optical sensor has potential to perform effectively even in harsh environments. The latest development in the industry is the use of optical sensors in autonomous cars. These sensors are mainly used in the driver assistant systems as the parking assistant, lane keeping assistant, emergency brake assistant. The image sensors market in automotive industry is estimated to grow rapidly due to its extensive image applications in the automotive sector. The robust growth of biometrics market, deployment of fiber optics sensors in defense & aerospace will further trigger the sales of optical sensors during the forecast period. Remote sensing has become a major factor for the growing adoption of optical sensors in chemical and furnace factories for the measurement of temperature. In chemical industry fiber optical chemical sensors are used to detect harmful chemicals. The use of fiber optical chemical sensor can drive the market rapidly in the future, and also due to availability of low cost, miniature electric sources.
COVID-19 Impact on Optical Sensors Market:The COVID-19 pandemic has severely impacted the semiconductor sector, which is restraining the optical sensor industry demand. Due to major disruption in international supply-chain the global semiconductor sales decreased by 3.8% in 2020. The pandemic has hugely impacted the critical manufacturing and production processes across several industry verticals. The current demand for diagnostics and prevention measures in the healthcare sector has increased. Due to lockdown implemented in different regions several major automotive and consumer electronics OEMs have halted their manufacturing operations resulting in decline sales of optical sensors.
Optical Sensors Market Segment Analysis:Based on Type, the Market is segmented into extrinsic and intrinsic. Extrinsic sensors employ for guiding the light to the sensing region, the point at which the optical signal exits the waveguide and modulates into another medium. Extrinsic segment is estimated to grow at a CAGR of 7.5% during the forecast period. Intrinsic segment has the largest market share in 2021. Based on Application, the Market is segmented into temperature sensing, biochemical, geological survey, and biometric and ambience. The sensors have the ability to detect electromagnetic radiation of various wavelengths usually ranging from infrared up to ultraviolet. These sensors are widely used for advanced applications such as gesture recognition, occupancy sensing and smart lighting. Optical sensors automatically adjust the screen brightness of the devices according to the environment. Based on Industry Vertical: the market is segmented into oil & gas, aerospace, consumer electronics, medical and others. Majorly aerospace industry vertical is showing attention in the maximum deployment of optical sensors due to its capability to stand in harsh environment. Optical pressure measurement sensors are widely adopted by oil & gas industry. Consumer electronics devices such as tablets, smartphones, and laptops are integrated with optical sensors which will further provide growth opportunities to the market. The optical sensor market is likely to boost because of the rising adoption of wearable healthcare devices such as fit bits, pulse oximeters, smartwatches, etc.
Optical Sensors Market Regional Insights:The North America region held the largest market share accounting for 45% in 2021. The major factor driving the growth of optical sensor market in North America is due to high adoption of optical sensors by major key industry verticals such as aerospace, oil and gas, utilities, etc. The significant demand for consumer electronic products and the presence of consumer electronics manufacturers in China, India, and Japan contributed to the enhancement of market growth across the Asia Pacific. In the United States, smartphone household penetration is at 72% suggesting a high potential for household penetration in the region. Europe is welcoming robotics in the factory automation phase and the government’s funding for the introduction of advanced driver assistant system in vehicles is expected to fuel demand for optical sensors in the region. The objective of the report is to present a comprehensive analysis of the global Optical Sensors Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Optical Sensors Market dynamic, and structure by analyzing the market segments and projecting the Optical Sensors Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Optical Sensors Market make the report investor’s guide.
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Global Optical Sensors Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2027 Historical Data: 2017 to 2021 Market Size in 2021: US $ 1.78 Bn. Forecast Period 2022 to 2027 CAGR: 15.2% Market Size in 2027: US $ 5.18 Bn. Segments Covered: by Type • Intrinsic • Extrinsic by Application • Temperature sensing • Biochemical • Geological survey • Biometric and ambience by Industry Vertical • Oil & gas • Aerospace • Consumer electronics • Medical • Others
Optical Sensors Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Optical Sensors Market Key Players:• Texas Instruments Inc. • Vishay Intertechnology, Inc. • Teledyne Dalsa Inc. • Alphasense • RJC Enterprises, LLC • Oxsensis Ltd. XX • ABB • ROHM Semiconductor • AMS AG • Hamamatsu Photonics K.K. • Analog Devices, Inc. • Fairchild Semiconductor • Stmicroelectronis N.V. Frequently asked questions 1. What are the major industry drivers? Ans- The major industry drivers include rising population, increased urbanization, and the rising demand from the end use sectors. 2. What are the key industry trends of the global optical sensor market? Ans- The key trends in the market are rising adoption of wearable healthcare devices in developed economies. 3. What is the growth rate of optical sensor market? Ans- The market is projected to grow at a CAGR of 15.2% during the forecast period. 4. What is the dominant end use of optical sensor in the industry? Ans- Aerospace segment is the dominant segment in the industry.
1. Global Optical Sensors Size: Research Methodology 2. Global Optical Sensors Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global optical sensors market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Optical Sensors Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Optical Sensors Size Segmentation 4.1. Global Optical Sensors Size, by type (2021-2027) • Intrinsic • Extrinsic 4.2. Global Optical Sensors Size, by application (2021-2027) • Temperature sensing • Biochemical • Geological survey • Biometric and ambiance 4.3. Global Optical Sensors Size, by industry vertical (2021-2027) • Oil & gas • Aerospace • Consumer electronics • Medical • Others 5. North America Optical Sensors (2021-2027) 5.1. North America Optical Sensors Size, by type (2021-20227) • Intrinsic • Extrinsic 5.2. North America Optical Sensors Size, by application (2021-2027) • Temperature sensing • Biochemical • Geological survey • Biometric and ambiance 5.3. North America Optical Sensors by industry vertical (2021-2027) • Oil & gas • Aerospace • Consumer electronics • Medical • Others 5.4. North America Optical Sensors by Country (2021-2027) • United States • Canada • Mexico 6. European Optical Sensors (2021-2027) 6.1. European Optical Sensors by type (2021-2027) 6.2. European Optical Sensors by application (2021-2027) 6.3. European Optical Sensors by industry vertical (2021-2027) 6.4. European Optical Sensors by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Optical Sensors (2021-2027) 7.1. Asia Pacific Optical Sensors by type (2021-2027) 7.2. Asia Pacific Optical Sensors by application (2021-2027) 7.3. Asia Pacific Optical Sensors by industry vertical (2021-2027) 7.4. Asia Pacific Optical Sensors by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Optical Sensors (2021-2027) 8.1. Middle East and Africa Optical Sensors by type (2021-2027) 8.2. Middle East and Africa Optical Sensors by application (2021-2027) 8.3. Middle East and Africa Optical Sensors by industry vertical (2021-2027) 8.4. Middle East and Africa Optical Sensors by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Optical Sensors (2021-2027) 9.1. South America Optical Sensors by type (2021-2027) 9.2. South America Optical Sensors by application (2021-2027) 9.3. South America Optical Sensors by industry vertical (2021-2027) 9.4. South America Optical Sensors by Country (2021-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Texas Instruments Inc 10.1.1. Financial Overview 10.1.2. Global Presence 10.1.3. Capacity Portfolio 10.1.4. Business Strategy 10.1.5. Recent Developments 10.2. ROHM Semiconductor 10.3. AMS AG 10.4. Hamamatsu Photonics K.K. 10.5. Analog Devices, Inc.