Optical Sensor Market By Product (Fiber Optics Sensor, Image Sensor, Position Sensors, Proximity & Ambient Light Sensor), By Application (Aerospace & Defense, Automotive, Consumer Electronics, Healthcare, Industrial, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Integration of the optical sensors among the smartphones and tablets is driving the optical sensor market growth.

Globally, the optical sensor market is expected to grow at a CAGR of 13.5% during the forecast period from 2019 to 2027, starting from US$ 1.7Bn in 2018. The market is driven by the widespread adoption of optical sensors in smartphones and tablets. As the rate of technological advancement is rising and competition among smartphone manufacturers is increasing, organizations are looking to integrate more advanced features into their products to gain an edge over competitors. This is accelerating the adoption of optical sensors among smartphones and tablets.

Further, the increasing adoption of smart homes and solutions is also acting as a major force propelling the market. Additionally, the increasing automation in the industrial sector and the rapid adoption of the Industry 4.0 revolution are driving the market.

However, the high cost of optical sensors, along with the lack of standardization across industries, is holding back the growth of the market. Besides, the development activities for connected cars and autonomous vehicles are presenting a huge opportunity for the growth of the market.

Market Synopsis

Image sensors are leading the optical sensors market due to their widespread adoption in consumer electronics.

Image sensors are leading the optical sensors market with over 40% market share due to their widespread adoption in cameras, smartphones, and other consumer devices. The advancement in CMOS image sensors has further accelerated the demand for image sensors across the globe. The CMOS sensor has several benefits, such as compact size, low power consumption, speed, accuracy, and cost-effectiveness, that are driving its demand in the market. Moreover, the growing demand for 3D image sensors among automotive and other industrial applications, such as computer vision and machine vision, is also augmenting their demand in the market. On the other hand, fiber optic sensors are estimated to grow substantially during the projected timeline due to the increasing adoption of wearable devices for health and fitness monitoring applications.

Asia Pacific to Register the Fastest Growth

Asia Pacific's optical sensor market is projected to register the highest CAGR over the forecast period. The market is driven by the growing semiconductor industry in the region. Over the past decade, China, Taiwan, and South Korea have emerged as the top manufacturing hubs for the semiconductor industry. All the major consumer electronics companies have manufacturing facilities in the region due to the easy availability of materials, low labor costs, and skilled workforce. Moreover, supportive government policies, along with the increasing investment by the market players in the region, are accelerating the market's growth.

The key vendors operating in the optical sensors market are ABB Ltd., Sony Corporation, Broadcom Inc., Omnivision Technologies Inc., Coherent Inc., Samsung, Analog Devices Inc., Canon U.S.A. Inc., Baumer Electric AG, Eaton Corporation, Finisar Corporation, EMCORE Corporation, Robert Bosch GMBH, and STMicroelectronics.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The optical sensor market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global optical sensor market based on product, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of the optical sensor in 2018 and the forecast up to 2027?
  • Which is the largest regional market for optical sensors?
  • What are the major trends followed in the optical sensor market across different regions?
  • Who are the key companies in the optical sensor market?
  • What are the key strategies adopted by the leading optical sensor companies on the market?

Unique data points of this report

  • Statistics on optical sensors and spending worldwide
  • Recent trends across different regions in terms of the adoption of optical sensors for industries
  • Notable developments are going on in the semiconductor industry.
  • Attractive investment propositions for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently Asked Question:

The market for Optical Sensor Market is expected to reach USD$ 1.7Bn in 2027.

The Optical Sensor Market is expected to see significant CAGR growth over the coming years, at 13.5%.

The report is forecasted from 2019 -2027.

The base year of this report is 2018.

Coherent Inc., Samsung, Analog Devices Inc., Canon U.S.A. Inc., Baumer Electric AG. are some of the major players in the global market.

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Published Date:  Jul 2019
Category:  Semiconductor & Electronics
Report ID:   59777
Report Format:   PDF
Pages:   120
Rating:    4.2 (56)
Delivery Time: 24 Hours to 48 Hours   
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