Global Optical Sensor Market to surpass $36 Bn by 2026

January 20, 2020

According to a research report titled ‘Optical Sensor Market Size By Product (Photoelectric Sensors {Through Beam, Retro-Reflective, Diffuse}, Ambient & Proximity Light Sensors, Image Sensors{Complementary Metal-Oxide-Semiconductor (CMOS), Charge-Coupled Device (CCD)}, Fibre Optic Sensors{Extrinsic, Intrinsic}), By Application (Consumer Electronics, Industrial, Automotive & Transportation, Food & Beverage, Medical), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the worldwide optical sensor market is projected to exceed over US $36 billion by the year 2026.

Technological advancements in the industrial sector have fueled the demand for advanced optical sensors. The trend of Industry 4.0 witnessed across manufacturing industry has given birth to new growth opportunities in optical sensor market. Notably, photoelectric sensors are seen to witness huge demands primarily for their high precision offering in object detection as well as compact size.

An exponential growth in the global smartphone industry may augment the demand for optical sensors. Sensors used in mobile phones drive numerous applications and features like HD cameras, device security, and more. With increasing demand for such features, smartphone manufacturers are forced to integrate new optical sensors in their devices.

In February 2018, ams AG had supplied its new light and infrared proximity sensor for Apple smartphones. Reports claim that these sensors were designed for 3D facial recognition in Apple’s upcoming handsets.

The smartphone industry of India has also witnessed momentous growth in recent years. According to the Indian Ministry of Electronic and Information Technology, around 500 million smartphones were expected to be produced in India by 2019, totaling to about USD 46 billion. Presence of renowned mobile manufacturers in India could shape the growth trajectory of optical sensor market.

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Apart from the smartphone industry, the aerospace and defense sectors have recently generated substantial proceeds for the optical sensor market. The defense sector mainly deploys high precision fibre optic sensors that are resistive to conditions like extreme pressure, temperature, chemical corrosion, high voltage environment, and intense electromagnetic interference (EMI).

Robust growth in the aerospace industry may fuel new demands in fibre optical sensor market. In 2019, the Indian Air Force attained its new fighter aircraft ‘Dassault Rafale’ in the Dassault Aviation site. According to reports, the country is about to receive more of these French fighter aircraft in the next couple of years.

Frequently Asked Questions (FAQ) :

Industrial automation being the norm to today’s tech driven industry has fueled the demand for optical sensors. Manufacturing companies are actively adopting photoelectric sensors across their operation, primarily due to its compact size and high detection capabilities.
Optical sensors play a crucial role in driving advanced features offered by today’s smartphones. They drive applications like high resolution cameras and mobile security. To gain an edge over rival, smartphone manufacturers are increasingly integrating new, technologically advanced optical sensors in their upcoming products, which is believed to augment the product’s market size.
The defense and aerospace sectors essentially require high precision fibre optic sensors that can withstand extreme temperature, pressure, chemical corrosion, and intense EMI. Increasing demand for high performance fighter jets from countries like India may bolster fibre optical sensor market growth.
Industry players operating in the optical sensor market are undertaking numerous developmental strategies like product innovations, mergers, acquisitions, and collaborations, to gain an edge over other players. In 2019, Rockwell Automation, Inc. unveiled its new photoelectric sensor for material packaging, handling, and food & beverage applications.