Wilmington, Delaware, United States, April 26, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - According to market estimates, the global optical sensor market will reach US$ 53.2 billion by 2031. The global market is predicted to grow at a CAGR of 8.3% by 2023 and 2031.
Sensors based on optical technology have gained considerable traction in the electronic industry. The devices have evolved into highly versatile contactless detectors that are finding applications in many industries and products.
Consumer electronics, industrial machinery, automobiles, and textiles are among the end-user industries experiencing rapid growth in optical sensors. Manufacturing policies and the increased adoption of IIoT solutions are driving optical sensor sales.
Photographic flashes and alarm systems use optical sensors. An optical heart-rate monitor that utilizes light has been developed using optical sensors in the biomedical field. Using a LED and optical sensor, this device analyzes reflected light off the skin.
With Industry 4.0 urging greater use of robotics and automation, precision in operations is more crucial than ever. As a result, photoelectric sensors are becoming increasingly important.
Get the Recently Updated Report on the Optical Sensor Market as a Sample Copy at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=47118
In the midst of the Coronavirus disease 2019 pandemic (COVID-19), contactless sensing has never been more necessary. Healthcare facilities often use optical sensors for contactless sanitizer dispensers.
The tamper-proof and maintenance-friendly properties of smart sensors have made them increasingly popular in military and defense applications. The development of packaging processes has led to an increased demand for procedures that prevent unforeseeable events, such as empty packets caused by a lack of medications in the packaging line.
Lasers are increasingly incorporated into optical products with sensors, opening up new opportunities for photonics manufacturers. Increasing consumer interest in photography is an important factor contributing to the growth of the market for image sensors.
Agricultural food products can be tested on-site for pesticides using optical sensors. With the advent of optical sensing technology, chemical sensors, target-responsive hydrogels, fiber-optic biosensors, immunoassays using lateral flow, wearable gloves, and fluorescence double-signal techniques, pesticide residues can now readily be detected.
Key Findings of the Market Report
- Enhanced image quality of digital cameras with uses in industries, media, healthcare, and consumers to grow the image sensor market.
- With industrial sectors striving to detect position misalignments, the demand for photoelectric sensors has grown.
- Growing demand for sensors combined with wearable healthcare devices will make optical sensors highly sought-after.
- Growth in the healthcare industry is also expected to drive demand for optical sensors in smartwatches and pulse oximeters.
Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=47118<ype=S
Global Optical Sensor Market Growth Drivers
Smartphones have recently incorporated advanced security features, such as fingerprint scanners on their screens and optical sensors that verify fingerprints, thus creating demand for fiber optic sensors.
Electric vehicles are becoming more prevalent, printed electronics can be used for battery condition monitoring. For instance, EV sales worldwide reached 6.7 million units, according to the International Energy Agency. Furthermore, the IEA predicts that 300 million electric cars will be on the road by 2050, accounting for 60% of new car sales under the Net Zero Emissions scenario.
With ADAS and self-driving cars increasingly developed in the United States, market demand will continue to accelerate. Micro and nanotechnology development is increasing the demand for robust, affordable, and high-performance sensors.
With the extension of the Internet of Things system, optical sensors are expected to see a significant rise in demand. Increasingly smart homes, buildings, and communities make it easy to monitor energy consumption, minimize it, and control lighting.
Global Optical Sensor Market: Regional Landscape
- North American markets will benefit from smart-home connectivity and the increasing use of optical sensors in the industrial and commercial sectors.
- Growing popularity of consumer electronics and the growing demand for automation will drive demand in the United States.
- Increasing automotive sales and the presence of automobile manufacturers in Europe are driving optical sensor market demand.
- Growing smartphone usage and smart home penetration will drive demand in the Asia Pacific.
- Sales of electric vehicles in China and India are expected to increase in the coming years, expanding the market.
Global Optical Sensor Market: Key Players
Players are acquiring, merging, and forming alliances with one another to consolidate their positions in order to gain market share. Recent trends in the market suggest that intense competition has entered the market.
- In April 2023, Raytheon will roll into service a new electro-optical sensor powered by artificial intelligence (AI) on the U.S. Army’s Future Vertical Lift aircraft. Real-time identification of objects will be allowed by Raiven's electro-optical/infrared (EO/IR) system.
- In April 2023, Missouri S&T researchers are pioneering the development of fiber optic sensors that are capable of operating in harsh and extreme environments, which may help to collect previously unavailable or difficult-to-access information.
Key Points from TOC:
1. Preface
1.1. Market Introduction
1.2. Market and Segments Definition
1.3. Market Taxonomy
1.4. Research Methodology
1.5. Assumption and Acronyms
2. Executive Summary
2.1. Global Optical Sensor Market Overview
2.2. Regional Outline
2.3. Industry Outline
2.4. Market Dynamics Snapshot
2.5. Competition Blueprint
3. Market Dynamics
3.1. Macroeconomic Factors
3.2. Drivers
3.3. Restraints
3.4. Opportunities
3.5. Key Trends
3.6. Regulatory Framework
4. Associated Industry and Key Indicator Assessment
4.1. Parent Industry Overview – Global Optical Sensing Industry Overview
4.2. Supply Chain Analysis
4.3. Pricing Analysis
4.4. Sensor Type Roadmap Analysis
4.5. Industry SWOT Analysis
4.6. Porter Five Forces Analysis
4.7. Covid-19 Impact and Recovery Analysis
5. Global Optical Sensor Market Analysis By Measurement Range
5.1. Optical Sensor Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, By Measurement Range, 2017–2031
5.1.1. 2m - 10 m
5.1.2. 11 m - 30 m
5.1.3. 31 m - 60 m
5.1.4. 61 m -90 m
5.1.5. 91 m -120 m
5.1.6. Above 120 m
5.2. Market Attractiveness Analysis, By Measurement Range
6. Global Optical Sensor Market Analysis By Sensor Type
6.1. Optical Sensor Market Size (US$ Mn) Analysis & Forecast, By Sensor Type, 2017–2031
6.1.1. Fiber Optic Sensors
6.1.2. Image Sensors
6.1.2.1. CMOS
6.1.2.2. CCD
6.1.3. Photoelectric Sensors
6.1.4. Ambient Light Sensors
6.1.5. Others
6.2. Market Attractiveness Analysis, By Sensor Type
TOC Continued……
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=47118
Global Optical Sensor Market: Segmentation
Measurement Range
- 2m - 10m
- 11 m- 30 m
- 31 m -60 m
- 61 m - 90 m
- 91 m -120 m
- Above 120 m
Sensor Type
- Fiber Optical Sensors
- Image Sensors
- Photoelectric Sensors
- Ambient Light Sensors
- Others (Infrared Sensors, Proximity Sensors, etc)
Application
- Medical Imaging
- Material Processing
- Indoor & Outdoor Lighting
- Dynamic & Static Signaling
- Testing & Measurement
- Authentication & Visualization
- Others (Temperature & Pressure Sensing, Geological Survey, etc)
By End-user
- Consumer Electronics
- Automotive & Transportation
- Aerospace & Defense
- Healthcare
- Oil & Gas
- Energy & Power
- Food & Beverage
- Media & Entertainment
- Chemicals
- Others (Industrial, Agriculture, etc)
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
