openPR Logo
Press release

Optical Sensors Market Anticipated for 7.50% CAGR Growth by 2018-2023 | ON SEMICONDUCTOR, MICROCHIP TECHNOLOGY, EATON CORPORATION, HITACHI, HONEYWELL INTERNATIONAL, OMNIVISION TECHNOLOGIES

10-11-2018 02:46 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Prognosis

The global optical sensor market was worth USD 17.42 billion in 2017 and is projected it to grow to USD 26.88 billion by 2023 at a CAGR of 7.50% over the forecast period (2018-2023). The report is segmented based on technology and the type of sensors offered by the major players in the market. Apart from this, the report also focuses on the various optocouplers available. While the regions considered in the report include North America, Europe, and various others. The study also focuses on various trends in the market such as the advent of miniaturized versions, and the increasing proliferation of advanced electronics products.

Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/17385
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

The global optical sensors market is expected to grow at a steady pace over the forecast period. This growth is due to the advancements in mobile technology resulting in new features and models. These advancements are expected to change the scenario for silicon technology as well. Moreover, the need for power-saving technologies is also changing the market, with companies shifting their focus toward the silicon technology. The optical sensors market is also witnessing the development of sensors for niche, yet specific applications, including diffused device with intensity difference to detect the presence of filters in coffee capsules, and laser distance sensors for measuring the thickness of medicinal capsules. In addition, the continuous persistence in innovation has improved investment opportunities in the optical sensors industry to improve fabrication techniques and enhance the sensing abilities at significantly lower costs, thus, ensuring high profit margins and better sales.

Key Developments in the Market
• February 2017 - ROHM announced the market availability of an optical sensor for heart rate monitoring optimized for wearable devices, such as sports bands and smart watches. The product BH1790GLC leverages proprietary analog circuit technology and optical sensor expertise to enhance sensitivity, allowing pulse waves to be detected with high accuracy, even with low LED brightness, resulting in low power consumption.
• October 2017 - AOMS Technologies Inc. announced the deployment of its patented fiber optic sensing technology (AOMS-FOS) for monitoring of soil and groundwater during In-Situ Thermal Remediation (ISTR) projects in Europe. It is the maiden deployment of AOMS-FOS technology in Europe after adoption in North America, including Superfund remediation sites in the US.

The major players include –
ON SEMICONDUCTOR, MICROCHIP TECHNOLOGY INC., EATON CORPORATION PLC, HITACHI LTD, HONEYWELL INTERNATIONAL INC., OMNIVISION TECHNOLOGIES INC., PEPPERL+FUCHS INTERNATIONAL, ROCKWELL AUTOMATION INC., SICK AG, STEINEL, STMICROELECTRONICS, and TEXAS INSTRUMENTS INCORPORATED, amongst others.

Request Discount on this repots @ https://marketprognosis.com/discount-request/17385
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Increasing Penetration of Automation Techniques across Industries
There has been an increase in automation across several industries, globally. This has further increased the demand for optical sensors, across industry verticals. The latest technological breakthroughs have assisted the advancement of new optical sensors that can make the overall processes more efficient, and can significantly improve accuracy across various applications. There have been a series of new product launches, mergers, and acquisitions, at a global level to take the advantages offered by optical sensors. The major driver behind investments has been the continuous evolution and application of new technologies to unlock enormous volumes, which were previously considered non-commercial. These series of investments the automotive, power & utilities, and energy & mining applications are set to boom the optical sensor market over the forecast period.

Advancements in Hyper Spectral Imaging to Augment the Growth
Hyper spectral imaging integrates spectroscopy and digital imaging. A hyper spectral device helps in capturing a large number of spectral bands. Over the past few years, several technological advancements have led to the penetration of the hyper spectral technology, over a wide range of applications, these technologies include satellite-based airborne sensing and target detection for military, along with the quality control processes for industrial applications. Owing to its ability in ensuring rich information content, the hyper spectral technology is widely accepted for automation in image processing techniques. These devices are capable of acquiring data that can be easily comprehended by the human eye. In the recent years, these sensors have witnessed a high penetration rate in the areas of research, to gain more accurate and reliable data for various applications.

Growth in Fiber Optic Sensors Segment to Drive the Market
Over the past few years, optical fibers have seen significant in-roads across various sensors application, because of their small size and the ability to transmit huge amounts of data without complexion, by consuming only a minimal or low electrical power for signal transmission. One of the key features of fiber optic sensors is that they do not face any interruption from electromagnetic waves and do not conduct electricity. Hence, they can be used in such places, where, high voltage current along with flammable materials are present.
Moreover, the technological advancements in photonics have been very fast in comparison to other technologies. The photonics involvement in other potential technologies has grown enormously. Optical fibers have a major role in communication as well as in the development of different types of sensors.

Enquiry Before Buying @ https://marketprognosis.com/enquiry/17385
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Optical Sensors Market Anticipated for 7.50% CAGR Growth by 2018-2023 | ON SEMICONDUCTOR, MICROCHIP TECHNOLOGY, EATON CORPORATION, HITACHI, HONEYWELL INTERNATIONAL, OMNIVISION TECHNOLOGIES here

News-ID: 1297317 • Views:

More Releases from Market Prognosis

Third-Party Logistics (3PL) Market Latest Study Focuses On Current, Future Innovations and Foreseen Till 2026 | FedEx, Exel Logistics, Menlo Worldwide Logistics, Ryder Logistics
Third-Party Logistics (3PL) Market Latest Study Focuses On Current, Future Innov …
The report covers a forecast and an analysis of the Third-Party Logistics (3PL) Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Third-Party Logistics (3PL) Market: The report spread across 90 pages is an overview of the Global Third-Party Logistics (3PL) Market. These report study based on the Third-Party
Ride-Hailing Market: An Insight on the Important Factors and Trends Influencing by Top Key Players (Didi, Uber, Lyft, Gett, Hailo, Ola Cabs, Cabify, GoCatch) | Foreseen Till 2026
Ride-Hailing Market: An Insight on the Important Factors and Trends Influencing …
The report covers a forecast and an analysis of the Ride-Hailing Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Ride-Hailing Market: The report spread across 90 pages is an overview of the Global Ride-Hailing Market. These report study based on the Ride-Hailing Market. It is a complete overview
COVID-19 Impact on Professional Indemnity Insurance Market 2021-2026: Industry Insight and Growth Strategy by Business Players - AIG, Chubb (ACE), Allianz, XL Group, AXA, Aviva
COVID-19 Impact on Professional Indemnity Insurance Market 2021-2026: Industry I …
The report covers a forecast and an analysis of the Professional Indemnity Insurance Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Professional Indemnity Insurance Market: The report spread across 90 pages is an overview of the Global Professional Indemnity Insurance Market. These report study based on the Professional
Modular Construction Market Future Growth Explored in Latest Research Report by 2026 | Komatsu, Kiewit, Skanska, L&T, Taisei, ACS Group, Bouygues Construction
Modular Construction Market Future Growth Explored in Latest Research Report by …
The report covers a forecast and an analysis of the Modular Construction Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Modular Construction Market: The report spread across 90 pages is an overview of the Global Modular Construction Market. These report study based on the Modular Construction Market. It

All 5 Releases


More Releases for Europe

Strategy Consulting Market 2025 | Analysis By Top Key Players: Booz & Co. , Rola …
Global Strategy Consulting Market 2019-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The key players covered in this study McKinsey , The Boston Consulting Group , Bain & Company , Booz & Co. , Roland Berger Europe
Influenza Vaccination Market Global Forecast 2018-25 Estimated with Top Key Play …
UpMarketResearch published an exclusive report on “Influenza Vaccination market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 115 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. This report focuses on the Influenza Vaccination market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This
Global Strategy Consulting Market Research Report 2018-2025 | Global Key Player …
An up-to-date research report has been disclosed by Market Research Hub highlighting the title “Global Strategy Consulting Market Size, Status and Forecast 2018-2025” which provides an outlook for current market value as well as the expected growth of Strategy Consulting during 2018-2025. The report studies the casing heads market worldwide, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, size, growth, revenue, consumption, import and export
Strategy Consulting Market Deep Insights with Core Business Strategies 2018 - Ro …
Strategy Consulting Market report provides a vital recent industry data which covers in general market situation along with future scenario for industry around the Globe. It also consist of major data along with forecasts of a global market along with clear presentation of diagrams (charts and tables). Global strategy consulting market size status and forecast 2025 has a vast collection of market research reports concerning the software industry, its sub-sectors, and
Wearable Heart Monitoring Devices Market 2018 To 2023 – Top Leaders Beurer Gmb …
The Worldwide Wearable Heart Monitoring Devices Market is growing at a healthy rate. The major players in this market are Medtronic (U.S.), Kinetec Products UK Ltd. (South America), Beurer GmbH (Europe), Medisana AG (Europe), Briggs Healthcare (U.S.), Polar Electro (Europe), SUUNTO (Europe), Koninklijke Philips N.V. (Europe), Garmin Ltd. (Europe) and others. The Wolrdwide Wearable Heart Monitoring devices is segmented on the basis of products, type, application, and end users. On
Surgical Equipment Market 2018 Leading Manufacturer in Europe, the Middle East & …
The Europe, the Middle East & Africa Surgical Equipment Market is expected to grow at an approximate CAGR of 6.7% during the forecast period. A surgical equipment is a designed tool or device to carry out various surgical procedures so as to modifying biological tissues and to provide access for viewing them. The surgical equipment can be designed specifically for a particular surgery or it can be used as general purpose