According to the new market research report by IndustryARC titled “Optical Sensors Market: By Types (Position, Light, Image, Photoelectric, Photo detectors, Motion, Others); By Verticals (Material Handling, Building Automation, Manufacturing, Packaging, Security & Surveillance, Others); By Application (Ambient Light sensor, Pressure sensor, Temperature, Displacement, Water level indication); By Geography – Forecast (2018-2023)”, the market is driven by the rising demand from automation industry and rising penetration of smartphones in the global market.
The Global Optical sensor market is estimated to grow at a CAGR of 8.99% to reach $42.9 billion by 2023 from $25.6 billion in 2017. In this market, among all the end user segments manufacturing segment is domination with $1.11 billion in 2017 and is expected to grow at 8.99% CAGR to reach $1.86 billion by 2023.
APAC held the largest market share in the Optical Sensors Market
Asia Pacific region holds the largest market share and growth in the Optical Sensors Market and is anticipated to reach $17.33 billion by 2023 at a CAGR of 10.46%. APAC Optical Sensors Market is mainly driven by the rising automation demands and foreign investments. The key applications include ambient light sensor, fiber optical chemical sensor, temperature sensors among others.
Selected Value Chain Analysis done in the Optical Sensors Market Report
The quality of optical sensors manufactured, depends on both the production process as well the raw materials. Once the design, product features, specifications and patent filing are finished, either through its own R&D activities or licensing agreements with research institutes or universities, the company starts the manufacturing process.
This Optical Sensors industry requires a range of components that are usually procured through various suppliers and raw material providers. The company manufactures the optical sensors either at their own factory or outsources the production process to a third-party manufacturer. Sometimes, these contract manufacturers only supply the manufactured parts, which can then be assembled at the company’s production facilities.
- The optical sensor products are then distributed to system integrators through wholesalers or global distributors. Once the products reach the system integrators, they bring together all component subsystems into a single optical system. These final end products are then distributed to end-user through global or regional distributors.
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Excerpts on Optical Sensors Market Growth Factors
Increasing adoption of automation across diverse sectors such as manufacturing, aerospace & defense, oil & gas and automotive among others, is driving the growth of global optical sensors market. For example, rising demand for safety and better navigation system has increased the utilization of optical sensors in vehicles. This factor in turn has driven the growth of optical sensor market during the forecast period.
Adding to that, optical sensors possess various benefits such as compactness, lightweight and flexibility, owing to which the adoption of these devices in the end user industries are growing at a faster pace.
The requirement for the developed nations to explore the untapped potential of many African countries also acts as a growth catalyst for modernized industries which will in turn create a market for optical sensors.
Hence, optical sensors will play a crucial role in sensing the environment to provide better control of devices, thus driving the market for them in the future.
Asia Pacific region holds the largest share in global light sensors market and the growth is attributed to the huge demand for electronics, especially smart phones, tablets, notebooks, smart T.V.s and laptops, in which all these products and many more consumer electronics have the need for in-built light sensing systems within them, which drive the market.
New constructions and budding industries manufacturing medium to high-end smart mobile phones incorporating ambient and RGB light sensors within their products also can be good market drivers for the same.
In Mexico, the Image Sensors market is estimated to reach $602.9m in 2023growing with a CAGR of 6.66%.
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Key players of Optical Sensors Market:
The Optical Sensor Market has some key players who hold major stakes in the market. Omron, Sony Corporation, Samsung, Rohm Semiconductors, Keyence Corporation and so on are some of the leading manufacturers present in the market.
The major companies considered for the analysis are SICK, Hans Turck, Pepperl+Fuchs, ifm and so on.
Major launches were by companies such as Micro-Epsilon Messtechnik GmbH & Co. KG, Omnivision Technologies, Hamamatsu Photonics, OMRON and Irisys.
The main features that were similar in all the recent launches were high quality sensing, low-cost and compactness.
In 2017, Hamamatsu introduced one channel distance measurement photo IC S13021-01CT that detects the distance to the target objects by using time-of-flight.
Significant products were launched in the market by the key players of the industry, including, OmniVision Technologies, HAMAMATSU PHOTONICS, Baumer Electric AG, APTINA IMAGING, B.E.G BRUCK ELECTRONICS GMBH and many more.
Omnivision’s ultra-compact global shutter sensor for computer vision applications, Lutron Electronics’ new dual-technology sensor under its Advanced-Maestro Occupancy/Vacancy Sensing Switch family, Busch Jaeger’s ZigBee Light Link (ZLL) intelligent light control use dimmers and motion detectors.
Some emerging startups that are using optical sensor technologies to produce innovative products are Optisense, an optics-based grid-sensor technology and Zedelef, a developer of optical sensors for oil and gas and electrical industries.
Optical Sensors Market Report is segmented as indicated below
- Optical Sensors Market By Light Source:
- Light Emitting Diode (LED)
- Light Amplification by Simulated Emission Radiation (LASER)
- Optical Sensors Market By Product Type
- Position Sensors
- Light Sensors
- Image Sensors
- Photoelectric Sensors
- Photo Detectors
- Safety Sensor
- Motion Sensors
- Infrared Sensors
- Thorough-Beam Sensors
- Retro-Reflective Sensors
- Diffuse Reflection Sensors
- Optical Sensors Market Analysis By Application
- Ambient Light Sensor
- Fiber Optical Chemical Sensor
- Liquid Level Indicator
- Temperature Sensor
- Radiation Sensor
- Magnetic Fields
- Acoustic Field
- pH Level Indicator
- Optical Sensors Market Analysis by End User
- Aerospace and Defense
- Building Automation
- Consumer Electronics
- Food & Beverages
- Material Handling
- Medical & Scientific Devices
- Office Equipment
- Paper & Print
- Security & Surveillance
- Wireless Communications
- Optical Sensors Market By Geography (Covers 12 + Countries)
- Optical Sensors Market By Entropy
- Carlo Gavazzi Automation Spa
- Vigo System S.A.
- Sofraider EC, Inc;
- Irisys (Infrared Integrated Systems Limited)
- TT Electronics
- First Sensor
- Steinel Professional
- Panasonic Corporation
- Teledyne Dalsa
- Theben AG
- Leuze Electronic GMBH + Co. KG
- Kistler Group
- Company 15+
What can you expect from the report?
The Optical Sensors Market is Prepared with the Main Agenda to Cover the following 20 points:
- Optical Sensors Market Size by Product Categories
- Optical Sensors Market trends
- Optical Sensors Manufacturer Landscape
- Optical Sensors Distributor Landscape
- Pricing Analysis
- Top 10 End user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Demand Analysis (By Revenue & Volume)
- Country level Analysis (15+)
- Competitor Analysis
- Optical Sensors Market Shares Analysis
- Optical Sensors Market Value Chain Analysis
- Supply Chain Analysis
- Strategic Analysis Of Optical Sensors Market
- Current & Future Market Landscape Analysis
- Opportunity Analysis
Optical Sensors Market Revenue and Volume Analysis
Does IndustryARC publish country, geography or application based reports in Optical Sensors Market?
Yes, we do have separate reports as mentioned below:
- Americas Market for Optical Sensors Market Report (2018-2023)
- Europe Market for Optical Sensors Market Trends (2018-2023)
- APAC Market for Optical Sensors Market Size (2018-2023)
- RoW Market for Optical Sensors Market Share (2018-2023)
- Position Sensors Market for Optical Sensors Industry (2018-2023)
- Light Sensors Market for Optical Sensors Market Share (2018-2023)
- Image Sensors Market for Optical Sensors Market Size (2018-2023)
- Photoelectric Market for Optical Sensors Market Trends (2018-2023)
- Photo Detectors Market for Optical Sensors Market Share (2018-2023)
- Safety Sensor Market for Optical Sensors Market Forecast (2018-2023)
- Motion Sensors Market for Optical Sensors Market Forecast (2018-2023)
- Infrared Detectors Market for Optical Sensors Market Analysis (2018-2023)
- Thorough-Beam Sensors Market for Optical Sensors Market Size (2018-2023)
- Retro-Reflective Sensors Market for Optical Sensors Market Size (2018-2023)
- Diffuse Reflection Sensors Market for Optical Sensors Market Share (2018-2023)
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