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Optical Sensors - Global Market Trajectory & Analytics

  • ID: 4805911
  • Report
  • April 2021
  • Region: Global
  • 196 pages
  • Global Industry Analysts, Inc
Global Optical Sensors Market to Reach $3.6 Billion by 2027

Amid the COVID-19 crisis, the global market for Optical Sensors estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$3.6 Billion by 2027, growing at a CAGR of 14.4% over the analysis period 2020-2027. Aerospace & Defense, one of the segments analyzed in the report, is projected to record a 17% CAGR and reach US$1.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Utilities segment is readjusted to a revised 14.2% CAGR for the next 7-year period.



The U.S. Market is Estimated at $378.2 Million, While China is Forecast to Grow at 19.1% CAGR

The Optical Sensors market in the U.S. is estimated at US$378.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$838.3 Million by the year 2027 trailing a CAGR of 19.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10% and 12.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.4% CAGR.

Oil & Gas Segment to Record 15.2% CAGR

In the global Oil & Gas segment, USA, Canada, Japan, China and Europe will drive the 14.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$116.8 Million in the year 2020 will reach a projected size of US$297.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$543.7 Million by the year 2027, while Latin America will expand at a 16.9% CAGR through the analysis period.

Select Competitors (Total 43 Featured):
  • ABB Ltd.
  • Alphasense Ltd.
  • ams AG
  • Analog Devices, Inc.
  • Fairchild Semiconductor International Inc.
  • Fotech Solutions Ltd.
  • Hamamatsu Photonics KK
  • OptaSense
  • Oxsensis Ltd.
  • Rjc Enterprises, LLC.
  • Rohm Semiconductors
  • Silixa Ltd.
  • STMicroelectronics
  • Teledyne DALSA, Inc.
  • Texas Instruments, Inc.
  • Vishay Intertechnology, Inc.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Unique Attributes of Optical Sensors and Expanding Application Areas Drive Growth in the Global Optical Sensors Market
  • Exhibit 1: Global Optical Sensors Market: Percentage Breakdown of Revenues by Type for 2019
  • US: A Major Market for Optical Sensors Worldwide
  • Asia-Pacific Optical Sensors Market: Positive Growth Outlook
  • Optical Sensors Market in India: Strong Growth in Store
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Consumer Electronics Industry Constitutes a Key Market for Optical Sensors
  • Mobile Device Technology Leverages Advancements in Optical Sensors
  • Trend towards In-display Fingerprint Sensor in Smartphones Fuels Optical Sensor Market
  • AMS Develops Behind-Screen Optical Sensor for Smartphones
  • Sustained Sales of Smartphones Augur Well Optical Sensor Market
  • Exhibit 2: Global Smartphone Shipments in Million Units for the Years 2016 through 2024
  • Rise in Smart Home Automation Favors for Optical Sensors Market
  • Rising Use of Wearable Devices for Medical Purposes Spurs Growth in the Optical Sensors Market
  • Exhibit 3: Penetration (%) of Optical Sensor Components in Shipments of Smart Bands and Smartwatches for the Years 2018, 2020, 2022 and 2024
  • Growing Importance of Optical Sensors for IoT and IoT-based Applications
  • Exhibit 4: Opportunity for Optical Sensors in IoT Market: Annual Revenues of IoT Market in $ Billion for the Years 2018, 2020, 2022 and 2024
  • WGM-based Optical Sensors: Potential Uses in IoT
  • Potential Role of Optical Sensors in Environmental Monitoring with IoT Adaptation
  • Global Fiber Optic Sensor (FOS) Market: An Overview
  • Distributed Fiber Optic Sensor/Sensing (DFOS) Market: Emergence of Optical Sensing as Important Technology in Varied Industries Drives Growth
  • Exhibit 5: Distributed Fiber Optic Sensor Market: Percentage Breakdown of Revenues by End-Use Vertical for 2019
  • Optical Position Sensors Market: Favorable Growth Ahead
  • Emerging Semiconductor Technologies Transforming Optical Sensing Markets
  • Rising Use of 3D Optical Sensing Technology in Mobile Devices Drives Market Growth
  • New Applications Spur Optical 3D Sensing Technology Space
  • Optical Fiber Sensors: Unique Properties Propel Adoption in Biomedical Applications
  • IoT Adoption and Strict Semiconductor Standards Raise Significance of Custom Optical Sensors for Medical Devices
  • Transition towards IIoT in Oil & Gas Industry Fuels Fiber Optic Sensors Market
  • Increase in Oil & Gas E&P Spending: An Opportunity Indicator
  • Exhibit 6: Growing Investments in Oil & Gas Exploration: Capital Expenditure in US$ Million for the Years 2019, 2021, 2023, 2025
  • Rising Significance of Optical Sensors in Structural Health Monitoring of Buildings and Infrastructure Facilities
  • Improving Safety of Construction Sites with Fiber Optic Sensors
  • Structural Health Monitoring of Aircrafts: Rising Significance of Optical Fiber Sensors
  • Innovations & Advancements
  • Optical Sensor Transforms Functioning of Robotic Vacuums
  • BAUMER’s Optical Miniature Sensors Facilitate in Accurate Detection of Objects
  • Leti Develops PorTable Optical Sensors Prototype for Chemical Detection of Gas
  • Pepperl+Fuchs’ Optical Sensors Come with Longer Operating Distances
  • Researchers Develop Fiber Optic Sensing Technology to Detect Magnetic Fields from Heart and Brain
  • PRODUCT OVERVIEW
  • Optical Sensor: Definition
  • Types of Optical Sensors
  • Sources of Light Sources for Optical Sensors
  • Optical Sensor Technologies
  • Advantages and Disadvantages of Optical Sensors
  • Applications of Optical Sensors
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 43
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