Why Optical Sensor Market is growing rapidly? ams AG, Broadcom Limited, HTM Sensors, Keyence Lite-On, Omron, ON Semiconductor, Panasonic Corporation, Rockwell, ROHM Semiconductor, Sensopart Industriesensorik, SICK AG, Texas Instruments, TOSHIBA ELECTRONIC

Optical sensors market is expected to be worth USD 36 billion by 2026. Prominent device manufacturers are integrating optical sensors in their respective products to meet the consumer demands of technologically advanced products. For instance, ams AG delivered a new light and infrared proximity sensor to Apple for the production of upcoming smartphones having the feature of 3D facial recognition.

Elaborating further on product type, the fibre optic sensors segment is expected to see substantial growth across the market in the upcoming years. These sensors offer high resistance in conditions of intense EMI, chemical corrosion, high temperature, high voltage, and high-pressure environments making them suitable for application across defence & aerospace sector. Hence, growing aerospace sector is fuelling the demand for fibre optics sensors. Additionally, photoelectric sensors offer high detection feature with small size which enables its usage across industrial manufacturing application, hence favouring the photoelectric optical sensors market outlook.

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There have been several initiatives taken by the governments to adopt innovative lighting technology that will further trigger the demand for optical sensors. For example, Chicago city has been planning to replace around 270,000 city lights with LED and control lights by the next four years starting from 2019 to 2022.

This initiative aims to save the cost of energy use by USD 10 million every year, which shall foster the demand for optical sensors within the intelligent lighting systems in the region. Similar efforts made worldwide with the rising need for sustainable and energy-efficient infrastructure full expand optical sensors market share.

Fiber optics sensors exhibit high resistance to harsh environments like high temperature, intense EMI, high voltage environment, high pressure and chemical corrosion. These characteristics will open up major profitable opportunities for the deployment of these sensors and expand the scope of applications in defense and aerospace segments.

For instance, the Indian Air Force has reportedly taken a delivery of 'Dassault Rafale', a fighter aircraft, at the Dassault Aviation site. It is expected that the country will assemble about 36 aircraft in France and ship it in the forthcoming years. As countries expand their defense forces with modern aircraft, optical sensors market will record notable growth in over the forecast period.

The rising adoption of smartphones worldwide is creating lucrative growth opportunities for the optical sensors market. These sensors offer several features in smartphones including high camera resolution, security features, etc. Major OEMs are implementing optical sensors in their products to cater to the market demand.

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Prominent companies operating in the optical sensors market are ROHM Semiconductor, Magna International, Rockwell Automation, Inc., Vishay Intertechnology, Inc., Honeywell International, Inc. and SICK AG. These companies are defining various strategies to enhance their capabilities by undertaking acquisitions and collaborations with other players and focussing on developing innovative products. Speaking of Rockwell Automation, Inc. for instance, the company launched a highly reliable and long ranged photoelectric sensor suitable for packaging, material handling, and for food & beverage applications.

Table of Contents (ToC) of the report:

Chapter 5. Optical Sensors Market, By Application
5.1. Key trends, by application
5.2. Consumer electronics
5.2.1. Market estimates and forecast, 2015 - 2026
5.3. Industrial
5.3.1. Market estimates and forecast, 2015 - 2026
5.4. Automotive & transportation
5.4.1. Market estimates and forecast, 2015 - 2026
5.5. Food & beverages
5.5.1. Market estimates and forecast, 2015 - 2026
5.6. Medical
5.6.1. Market estimates and forecast, 2015 - 2026
5.7. Others (aerospace & defense)
5.7.1. Market estimates and forecast, 2015 - 2026

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