Current Advances in Optical Sensors Market| Opportunities & Challenges | Analog Devices, Broadcom Inc., Canon, Inc., Coherent Inc., Eaton, Finisar Corporation, Hitachi, Panasonic, SICK, Sony, Texas Instruments, Toshiba, Vishay Intertechnology, Inc.
With a wide range of applications, the scope for sustainable growth increases. The sensors can be controlled using remote or stationary devices, and act as a perfect aid for security and surveillance systems. Other additional features like LED color detection, sound detection, background lighting help increase the user experience. They use minimal power and have very low carbon emissions. The global smartphone market rise is directly proportional to the demand for the global optical sensors market.
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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. 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.
The key players covered in this study: -
2. Analog Devices
3. Baumer Group
4. Broadcom Inc.
5. Canon, Inc.
6. Coherent Inc.
8. EMCORE Corporation
9. Finisar Corporation (NASDAQ: FNSR)
10. First Sensor
11. HAMAMATSU PHOTONICS UK LIMITED
14. Micron Optics, Inc.
15. Newport Corporation
16. OmniVision Technologies, Inc.
17. Omron Corp
19. Robert Bosch Ltd
20. Samsung Electronics
21. Smart Fibres Ltd
25. TE Connectivity
26. Teledyne DALSA
27. Texas Instruments
29. Vishay Intertechnology, Inc.
Technological advancements have resulted in revenue growth over the past few years. The introduction of hi tech cameras, smartphones, voice recognition, 3D mapping, eye tracking, etc. have contributed to the growth.
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Hyperspectral imaging collects information from set of images which represents narrow wavelength range of a wide electromagnetic spectrum or spectral band. It identifies the objects on the basis of spectral properties. Increasing application of this technique in satellite based or airborne remote sensing, military target detection, industrial quality control and lab applications in medicine as well as biophysics is forecast to propel optical sensors market demand. Rising need for object identification, process detection and material identification is likely to drive demand. Features such as low power consumption, small and light weight enables sensor deployment in challenging scenarios such as limited payload and constrained settings.
Personal electronics that includes headphones and portable devices is a major contributor to optical sensors market. The healthcare sector includes use cases such as medical instrumentation for diagnosing patients.
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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.
Prominent players of the optical sensors market include Samsung, Sony, Omnivision, and Canon.
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