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Optical Sensors Market Size, Share & Industry Analysis, By Type (Intrinsic, Extrinsic), By Product (Fiber Optic Sensor, Ambient Light Sensor, Photoelectric Sensors, Others (Infrared sensors, Proximity sensors, etc.)), By Industry (Aerospace & Defense, Energy & Utility, Telecommunication, Healthcare)Others and Regional Forecast, 2021-2028

Region : Global | Report ID: FBI102097 | Status : Ongoing

 

KEY MARKET INSIGHTS

An optical sensor functions as a transducer to convert the light signal into the electronic format as per requirement. Mainly they can be categorized based on type as internal and external optical sensors. The sensors used to collect and transmit a required quantity of light are called as external, while internal sensors are maximum used to recognize or measure the bends and variations in direction. The development of micro and nano-technologies results in the growing demands for high-performance, reliable, and cost-effective sensors. The augmentation of the IoT system is the crucial factor for the increasing demand for the optical sensor market. Growing adoption of consumer electronics products, especially smartphones, smart tablets is impacting indirectly on the growing demand for optical sensors market. Integration of smartphones with featured amenities such as 3D mapping, restore recognition, eye tracking, etc. made opportunities for the adoption of the optical sensors. Several advantageous factors of optical sensors such as lightweight, compact, passive, and dynamic sensing range are also responsible for balancing the growth rate of the market.


Key Market Driver -

• Increasing demand of power saving devices in industries • Rising deployment of IoT in various industry verticals

Key Market Restraint -

• Higher cost • Lack of deployment and maintenance practices • Lack of awareness of newer technology


Majorly aerospace and defense industry verticals are showing attention in the maximum deployment of optical sensors due to its capability to stand-in harsh environment. Remote sensing is becoming a prime factor for the growing adoption of optical sensors in chemical and furnace factories for the measurement of temperature. Optical pressure measurement sensors are widely adopted by oil and gas industries, which contributes to the growth of the optical sensor market. The feasible approach of the communication industry towards the usage of optical fiber cable is offering opportunities for the market to grow. Rapid growth in the smart city, smart buildings, and smart home projects are estimated to increase the implementation of ambient light and intelligent lighting technologies, which moreover offers an opportunity for the growth of the optical sensor market. The industries such as healthcare, consumer electronics and, automotive are expected to show massive adoption of optical sensors such as temperature, pressure, image, and motion sensors.


Key Players Covered:


Rockwell Automation Inc. deals with industrial automation and information domain. The company is well-known for its product brands Allen-Bradley and Rockwell Software. The company is mainly working to offer a smart manufacturing process to multiple industry verticals. Rockwell Automation Inc. provides different hardware and software products. The company is also working for the development and design of different types of optical sensors.


Other vital players of the global optical sensor market include ABB ltd., Texas Instruments Inc., Mouser Electronics Inc., ROHM Co., Hamamatsu Photonics K.K. Ltd., SICK AG, Vishay Intertechnology Inc., AZoNetwork, HBM - new light First Sensor AG, NEC Corporation, CyberOptics, and ifm electronic GmBh, etc.


The realistic capabilities of optical sensors to withstand in harsh environment and remote sensing offers opportunities for the adoption of optical sensors by aerospace and defense sector. Lack of deployment and maintenance practices may become challenging for the optical sensor market.


Regional Analysis


High adoption of optical sensors by major key industry verticals such as aerospace, defense, oil & gas, utilities, etc. is driving the growth of the optical sensor market across North America. In addition, significant demand for consumer electronics products and the presence of consumer electronics manufacturers in China, India, and Japan contributed to the enhancement of market growth crucially across the Asia-Pacific.


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Whereas Europe is adopting robotics in the factory automation process, and The government backing to augment the implementation of Advanced Driver Assistant System (ADAS) in vehicles is expected to impulse the optical sensors demand across the region. Increasing penetration of the internet and the growing number of smartphone users supposed to donate market growth opportunities in the Middle East & Africa.


Segmentation


























 ATTRIBUTE


 DETAILS

By Type




  • Intrinsic

  • Extrinsic



By Product




  • Fiber Optic Sensor

  • Ambient Light Sensor

  • Photoelectric Sensors

  • Others (Infrared sensors, Proximity sensors, etc.)



By Industry




  • Aerospace & Defense

  • Energy & Utility

  • Telecommunication

  • Healthcare

  • Automotive

  • Consumer Electronics

  • Other (Oil & Gas industries, Chemical Industries)



By Geography




  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico and Rest of Latin America)



Key Industry Developments



  • October 2019: Verizon and NEC Corporation together took a trial test of incorporating new optical sensor technology of NEC Corporation within optical fiber cable of Verizon which are already grounded. The technology is integrated with artificial intelligence (AI) supported software for intelligent traffic monitoring including the measurement of vehicle direction, density, acceleration, speed, deceleration, etc.

  • February 2018: ROHM CO. launched optical heart rate monitoring sensors designed for smart brands and watches. The sensor can measure vascular age, blood pressure and stress with about 1024 Hz sampling rate.


Optical Sensors Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

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