According to the research report titled ‘North America Optical Sensor Market Size By Application, By Product, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, North America optical sensor market is expected to garner significant returns through 2026.
 

Increasing government initiatives for energy-efficient innovative lightening products is fostering North America optical sensor market growth. Moreover, growing efforts of companies towards developing next-gen sensors for lighting control solutions is positively impacting the industry dynamics, cites the study.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3212728/
 

Based on product type, North America optical sensor industry is fragmented into photoelectric sensors, image sensors, ambient and proximity light sensors, and fibre optics sensors, among which, the lattermost segment captured 12% industry share in 2019 and is expected to register 7.5% CAGR through 2026. Growing necessity of remote sensing applications in aerospace & defense sector is projected to enhance the segmental progression in the upcoming years.
 

Fiber optic sensors offer superior resistance to harsh environmental conditions while delivering high-speed land connectivity, which favors their adoption in commercial applications, such as satellites, unmanned systems, and space launch vehicles.
 

Considering application scope, North America optical sensor market is categorized into industrial, consumer electronics, food & beverages, automotive & transportation, medical, and others. Of these, medical segment is touted to grow significantly in the upcoming years, creditable to increasing adoption of wearable healthcare devices in the region. In fact, Pew research center claims that, in Jan 2020, 21% of the U.S. adult population wore fitness trackers and smart watches.
 

Wearable healthcare devices, such as smartwatches, pulse oximeters, and fit bits, are integrated with various optical sensors including light, image, and proximity among others, to provide real-time monitoring of patient health. These compact sensors offer high accuracy and reduced electromagnetic radiation which favors their adoption in medical-grade wearable devices, subsequently enhancing the segment growth prospects.
 

From a geographical perspective, Canada held over 20% of North America optical sensor market share in 2019 and will experience a CAGR of 9.5% during 2020-2026. This can be ascribed to expansion of consumer electronics manufacturing industries in the nation, supported by favorable government initiatives.
 

Speaking of the competitive landscape, top-tier players in North America optical sensor market sphere are Vishay Intertechnology, Inc., Texas Instruments, Inc., STMicroelectronics N.V., Rohm Co., Ltd., Rockwell Automation, Inc., ON Semiconductor Corp., Omron Corp., Lite-On Technology Corp., Keyence Corp., and Broadcom, Inc.