Optical Sensor Market worth US$ 2.0 Billion in 2020 with a CAGR of 16.30%
The report " Global Optical Sensor Market,
By Type (Extrinsic Optical Sensor and Intrinsic Optical Sensor), By Sensor Type
(Fiber Optic, Sensor, Image Sensor, Photoelectric Sensor, Ambient Light and
Proximity Sensor, and Other Sensor Types), By Application (Industrial, Medical,
Biometric, Automotive, Consumer, Electronics, and Other Applications), and Region - Global Forecast to 2030"
Optical sensor market is projected to grow
up to US $2.0 billion in 2020 with CAGR 6.30%. The sensors
have application in intelligent lighting, helps to save power and response to
manual switch on and off the light in the smartphone which is the major propelling
factor for the growth of the global market. The increase in adoption of the
smartphone with the more security features drives the growth of the target
market. For instance, Synaptic announced, that it has started the mass
production of its first optical in-display fingerprint sensors. As companies
are adopting the on-screen fingerprint authentication in 2017
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Key Highlights:
·
In 2018, The
On Semiconductor Corporation has upgraded its image sensor product range, KAI-
29052. This sensor is anticipated to provide up to two times more sensitivity,
compared to the previous product.
Key Market Insights from the
report:
The global optical sensor market accounted for
the US $ 2.0 billion in 2020 and is projected to
register a moderate CAGR of 16.30% over the forecast period. The market report
has been segmented based on type, sensor type, application, and region.
·
By type Extrinsic optical sensor is the dominating segment because
it has more industrial applications
·
By sensor
type, the global market is classified
into fibre optic, sensor, image sensor, photoelectric sensor, ambient light and
proximity sensor, and other sensor types
·
By
application, the target market is bifurcated
into industrial, medical, biometrics, automotive, consumer, electronics, and
other applications
·
By
region, the market in North America
accounts highest revenue share to the global optical sensor market due to
growing demand for optical sensors for the smartphones. Asia Pacific optical
sensor market is projected to register a high CAGR over the forecast period due
to increasing demand for the light saving and advance security in the mobile.
The prominent player operating in the global
optical sensor market includes On Semiconductor Corporation, IFM Efector Inc., Keyence
Corporation, Honeywell International Inc., Vishay Intertechnology Inc., Pepperl
Fuchs GmbH, Sick AG, Rockwell Automation Inc., ROHM Co. Ltd., and
STMicroelectronics NV.
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