A recent report published by Infinium Global Research on optical
sensor market provides in-depth analysis of segments and sub-segments in global
as well as regional optical sensor market. The study also highlights the impact
of drivers, restraints and macro indicators on the global and regional optical
sensor market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global
optical sensor market. According to report, the global optical sensor market is
projected to grow at a CAGR of 7.3% over the forecast period of 2018-2024.
Market Insight
The optical sensor is the electrical a device used to convert the light rays into an electronic signal. The optical sensors measure the physical quantity of emitted light and convert it into the readable format with the help of an integrated measuring device. The optical sensors are used in the non-contact measuring and detection, counting and the positioning of the various part and physical entities across various industries such as manufacturing, aerospace, automotive, medical, oil and gas, chemicals and others.
The trending sensors
technological advancements and development of new innovative optical sensors to
measure various parameters such as strain, temperature, pressure, current,
voltage, gas, chemical, biomolecules, and others drive the growth of optical
sensors market across the world. In addition, increasing fiber optic cable
installation for higher bandwidth and about advancements in hyperspectral
imaging is constituting in the growth of optical sensors market. Furthermore,
optical sensors are used to smartly regulate the mobile phone by detecting the brightness of the environment, to save energy and make the mobile user-friendly
so the rising demand of smartphone likely to boost the demand optical sensors
market. Furthermore, increasing adoption of smart automation techniques across
various industries contribute to the growth of optical sensors market.
However, Availability other substitute sensors may hamper market growth.
Moreover, growing electronics industries, ongoing advancement in the sensors
technology, growing adoption of sensors across various industries are some
factors expected to serve many opportunities in the upcoming years.
Geographically, North America holds the maximum share in the optical sensors market and Asia-Pacific is the fastest growing region in the optical sensors market. The growing use of optical electronics in Aerospace and industrial automation is likely to boost the growth of optical sensors market in the North America region. The rising investments in medical, aerospace and deface industries in Asia-Pacific region drive the growth of optical sensors market in this region.
Segment Covered
The report on global optical sensor market covers segments such
as sensor type, technology, and end use industries. On the basis of sensor type, the global
optical sensor market is categorized into image sensors, fiber optic sensors, and position sensors. On the basis of technology, the global optical sensor
market is categorized into hyperspectral imaging, photo-acoustic tomography
and near IR spectroscopy. On the basis of end-use industries, the global optical
sensor market is categorized into consumer electronics, medical, automotive,
aerospace & defense, and others.
Geographic Coverage
The countries covered in the North America region include the
U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India,
South Korea, Malaysia, and among others. Moreover, Germany, U.K., France,
Spain and Rest of Europe are included in the European region. The U.S. drives
the growth in the North America region as it is the largest market in the
region. The Asia-pacific region offers substantial potential for the market
growth owing to rapid growth in markets such as India and China. The APAC
region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
Companies Profiled:
The report provides profiles of the companies in the global
optical sensor market such as ON Semiconductor, Microchip Technology Inc.,
Omnivision Technologies Inc, Siemens AG, Rockwell Automation Inc.,
Pepperl+Fuchs GmbH, Murata Manufacturing Co., Ltd., OMRON Corporation,
Honeywell International Inc. and Texas Instruments Incorporated.
Report Highlights:
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global optical sensor market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of optical sensor market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the optical sensor market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the optical sensor market to understand the present and future trends in this market and formulate their strategies accordingly.