Optical sensor refers to a device that transforms electronic signals from light or infrared rays. For various advanced applications such as occupancy sensing, gesture recognition, smart heating, and lighting, optical sensors are commonly employed.
Increasing focus on building automation along with growing demand from the automotive, manufacturing, consumer electronics and defense industries thereby increasing market development.
Increasing automation adoption across diverse industries such as engineering, aerospace and defense, oil and gas is driving rapid growth in the optical sensors market.
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One of the main technologies for advanced driver assistance systems is the optical sensors based on LEDs and infrared lasers to slowly reduce the driver burden.
Increase in demand for photoelectric sensors in industrial manufacturing applications owing to the compact size and high detection characteristics to have a positive impact the market growth.
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In addition, many minor players of the market to face difficulties in product differentiation, resulting in high-volume applications entering as a possible obstacle.
The optical sensor market is highly competitive due to the existence, with its vast distribution networks, of many powerful and leading market players worldwide.
The United States has always been one of the largest consumer electronics markets and there has been ever-increasing growth in the market share.
The Asia Pacific is closely followed by North America because of the region's enormous development and innovation growth opportunities.
Further, continuous advancement of optical sensor technology is thus in the trend and will provide enormous application opportunities over the forecast period 2020-2026.
Rising demand for handheld as well as electronic platforms would likely drive regional growth over the forecast period.
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Major industry players are investing in development in optical sensor technology to cater for rising demand in end-use applications.
For instance, Researchers developed a black phosphorus all-fiber humidity sensor for high-performance humidity sensing, and open up new opportunities for potential vapor/gas sensing applications.
Further, FLIR Systems to upgrade persistent surveillance electro-optical sensors for Marine Corps perimeter security.
In addition, in 2019, Xiaomi launched Samsung's 108MP ISOCELL CMOS sensor in its smartphone “Xiaomi Mi Mix 4” to offer users with a standard size camera and pictures of 12032 x 9024 resolutions.
Moreover, in 2019, A new ambient light sensor for sports bands and smartwatches has been introduced by Vishay Intertechnology, Inc.
As well, Hamamatsu Photonics K.K launched an InGaAs area image sensor used to detect short wavelength infrared light in 2019.
Other key players in the optical sensors market include Hamamatsu Photonics K.K. Baumer Electric Ag, Sofradir Ec Inc., Vigo System S.A., Carlo Gavazzi Automation Spa, Teledyne Dalsa, and Aptina Imaging among others.