Optical Sensor Market Growth by Emerging Trends Analysis and Forecasts 2021-2026
A detailed analysis of the optical sensor market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.
With ongoing technological developments across the consumer electronics and automation industry, the demand for optical sensing technology has enormously increased which is likely to provide major impetus to optical sensor market over forthcoming years.
The optical sensor market size is projected to exceed USD 30 billion by 2026. Optical sensors find extensive application in consumer electronics such as television, smartphones, laptops, wearables for biometric recognition, high-speed detection, device authentication and several other security applications. To illustrate, CMOS optical sensors have bene currently gaining immense popularity for use in IoT-based smart wearables such as smartwatches, fit bits, smart glasses, etc., which has considerably influenced the overall market outlook over the recent years.
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The increasing adoption of photoelectric sensors is attributed to their features such as high precision for long distance objects and compact size. This has spurred their demand across food & beverage industry for certain applications such as conveyor mechanism, monitoring, counting and non-contact detection. Owing to these factors, the photoelectric sensors segment is anticipated to record a notable CAGR of 7% through 2026. Considering the huge product demand various business players are developing new and technologically advanced products in order to meet the consumer demand. For instance, in 2019, SICK AG introduced ultra-thin photoelectric sensor products designed especially for easy integration into robotic arms and conveyor systems for end-of-line processing and packaging.
Several industries are increasingly adopting optical sensors for their automation and robotics equipment such as turn-over machines, lifters, etc. which is likely to enhance the segment growth. For the records, in 2019, the segment had secured a significant market share of 15% and is estimated to observe a substantial CAGR of 10% through 2026. The increasing adoption of optical sensors is majorly due to the advantages associated with them such as high-performance, high-speed detection, smaller footprint and improved operation in harsh environments. In addition to this, increasing penetration of smart factories across various developed countries including the U.S., France, Germany and the UK, will complement the business growth further.
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One of the prominent factors driving the growth of optical sensor market across Europe is the heightened product adoption across regional automotive industry. According to the report, Europe market is projected to show substantial growth rate of 11% through 2026. Some of the major automotive OEMs, present in Europe such as Audi AG, Daimler, Volkswagen and BMW, etc. are inclined on the developing self-driving cars and ADAS. Besides, favorable government initiatives for promoting the deployment of automotive safety systems in vehicles will further fuel the demand for optical sensors in the region. For instance, in 2019, European Union enforced a regulation to mandate ADAS systems such as Intelligent Speed Assistance (ISA) system and Automatic Emergency Braking (AEB) system and all forthcoming vehicles from May 2022.
Major Key Points from Table of Content:
Chapter 5 Optical Sensor Market, By Product
5.1 Key trends, by product
5.2 Photoelectric sensors
5.2.1 Optical sensor market estimates and forecast, 2015 – 2026
5.2.2 Through beam
5.2.2.1 Market estimates and forecast, 2015 – 2026
5.2.3 Retro-reflective
5.2.3.1 Market estimates and forecast, 2015 – 2026
5.2.4 Diffuse
5.2.4.1 Market estimates and forecast, 2015 – 2026
5.3 Ambient and proximity light sensors
5.3.1 Market estimates and forecast, 2015 – 2026
5.4 Image sensors
5.4.1 Market estimates and forecast, 2015 – 2026
5.4.2 CMOS
5.4.2.1 Market estimates and forecast, 2015 – 2026
5.4.3 CCD
5.4.3.1 Market estimates and forecast, 2015 – 2026
5.5 Fibre optics sensors
5.5.1 Market estimates and forecast, 2015 – 2026
5.5.2 Extrinsic
5.5.2.1 Market estimates and forecast, 2015 – 2026
5.5.3 Intrinsic
5.5.3.1 Market estimates and forecast, 2015 – 2026
Chapter 6 Optical Sensor Market, By Application
6.1 Key trends, by application
6.2 Consumer electronics
6.2.1 Optical sensor market estimates and forecast, 2015 - 2026
6.3 Industrial
6.3.1 Market estimates and forecast, 2015 - 2026
6.4 Automotive & transportation
6.4.1 Market estimates and forecast, 2015 – 2026
6.5 Food & beverages
6.5.1 Market estimates and forecast, 2015 - 2026
6.6 Medical
6.6.1 Market estimates and forecast, 2015 - 2026
6.7 Others
6.7.1 Market estimates and forecast, 2015 - 2026
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