Global Optical Sensors Market forecast to grow at 7.5% CAGR from 2016 to 2024

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Global Optical Sensors Market to exceed 30bn by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Optical Sensors Market

• Global Optical Sensors Market forecast to grow at
  7.5 CAGR from 2016 to 2024 according to a new
  research report by Global Market Insights, Inc.
• Optimum and real-time information in service
  sector integrity, the ultimate goal for every
  manufacturer, is pushing optical sensors market
  globally. Continuous evolution of technology is
  playing a pivotal role in the growth of optical
  sensors industry. These sensors are gaining
  popularity over conventional ones in smart homes
  owing to their integrated advanced features such
  as occupancy sensing, smart lighting, perimeter
  security, touchless control, etc.

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Continued...

• The increasing proliferation of consumer
  electronics especially smartphones and tablets
  featured with restore recognition, eye tracking,
  and 3D mapping, is acting as a key propellant
  thriving the overall optical sensors industry.
  Image sensors are mostly integrated into todays
  high-end use cell phones. As these sensors are
  highly compact, passive, and light weight, they
  can be easily multiplexed to offer extensive
  sensor arrays, thereby offering superior and a
  dynamic sensing range. Finger print recognition
  and mobile payment authentication are some of the
  recent additions, offering to the massive growth
  prospects of the market.
• Amenability to multiplexing, immunity against
  electromagnetic interference, and superior
  sensitivity make optical sensors the most
  preferred sensor technology in several fields,
  which include healthcare aerospace and defense
  industries, as well as residential and commercial
  surveillance. Optical sensors market is set to
  witness massive growth from the medical
  fraternity, having held 12 of the market share
  in 2015.

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China Optical Sensor Market size, by application,
2013-2024 (USD Million)

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Continued...

• With the technological advancements in the
  healthcare sector, biomedical imaging optical
  sensors are extensively used in different medical
  application such as gastroenterology,
  cardiovascular intensive care, angiology,
  ophthalmology, oncology, and even in dentistry.
  Additionally, favorable healthcare platforms such
  as SPHERE, which targets patients suffering from
  depression, obesity, stroke, etc., is also
  expected to stimulate optical sensors industry
  from healthcare applications.
• Optical sensors market from aerospace defense
  sector applications will also exhibit an upward
  growth trajectory, with a projected annual rate
  of 8.2 over 2016 -2024. These upgraded sensor
  systems are expected to bring about a revolution
  in the military sector, as optoelectronics
  technology provides better communications,
  sensing, and even weaponry.
• Based on the product trends, image optical
  sensors market accounted for a considerably
  larger share (more than half of the total
  revenue) in 2015 and is poised to grow
  lucratively with a CAGR estimation of more than
  7.3 over the period 2016-2024. Image sensors or
  photo detectors are widely used in various
  wearable electronics equipment both in the
  commercial as well as the personal front.

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Continued...

• The upsurge in consumer demand for electronic
  devices that will be able to provide proximity
  detection, ambient light sensing, and gesture
  recognition is fueling the ambient light sensors
  demand. It is estimated that ambient light
  optical sensors market will grow massively in the
  years ahead with an annual growth rate of 7.9
  over 2016-2024.
• Geographically, the global market is majorly
  driven by Asia Pacific optical sensors market,
  with prominent revenue contributions being from
  countries such as China, India, and South Korea.
  Accelerating demand for consumer electronics
  along with untapped potential is boosting the
  regional growth. Wide adoption of hi-tech sensors
  in factory automation and smart control systems
  is pushing U.S. optical sensors industry.
• Extensive research is being continuously done by
  key players to enhance the product portfolio
  which would offer better connectivity even in
  harsh environmental conditions. Some of the
  industry participants are also involved in
  mergers to attain a competitive edge. For
  instance, Broadcom Incorporation is taken over by
  Avago Technologies to provide a diversified
  communication platform in semiconductors
  industry. players of the optical sensors market
  include Samsung, Sony, Omnivision, and Canon.

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Table Content of Optical Sensors Market

• Chapter 1 Methodology Scope
• 1.1 Research Methodology
• 1.1.1 Initial data exploration
• 1.1.2 Statistical model and forecast
• 1.1.3 Industry insights and validation
• 1.1.4 Research scope assumptions
• 1.2 Data Sources
• Chapter 2 Executive Summary
• 2.1 Optical sensor industry 3600 synopsis,
  2013 - 2024
• 2.1.1 Business trends
• 2.1.2 Regional trends
• 2.1.3 Product trends
• 2.1.4 Application trends

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Continued...

• Chapter 3 Optical Sensor Industry Insights
• 3.1 Optical sensor industry segmentation
• 3.2 Industry Size and forecast, 2013 - 2024
• 3.3 Industry ecosystem analysis
• 3.3.1 Vendor matrix
• 3.3.2 Distribution channel analysis
• 3.4 Technology innovation landscape
• 3.4.1 Hyperspectral Imaging
• 3.4.2 Near Infrared Spectroscopy (NIR)
• 3.4.3 Photo-Acoustic Tomography (PAT)
• 3.4.4 Optical Coherence Tomography (OCT)
• 3.5 Regulatory Landscape
• 3.6 Industry Impact forces
• 3.6.1 Growth drivers
• 3.6.1.1 Increasing applications in smart homes
  and electronics
• 3.6.1.2 Growing demand from healthcare and oil
  gas sector
• 3.6.2 Industry pitfalls and challenges
• 3.6.2.1 High installation costs and
  sensitivity
• 3.7 Growth potential analysis

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