Title: Global Optical Sensors Market forecast to grow at 7.5% CAGR from 2016 to 2024
1Global Optical Sensors Market to exceed 30bn by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2 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.
3Continued...
- 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.
4China Optical Sensor Market size, by application,
2013-2024 (USD Million)
5Continued...
- 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.
6Continued...
- 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.
7 Browse Full Market Research Report Optical
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8Table 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
9Continued...
- 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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