Optical Sensor Market 2020 How the Business Will Grow in 2026? Prominent Players: ams AG, Broadcom Limited, HTM Sensors, Keyence Lite-On , Omron, ON Semiconductor , Panasonic Corporation ,Rockwell, ROHM Semiconductor, Sensopart Industriesensorik, SICK AG,

The steady increase in the demand for industrial automation will be fueling optical sensor market share in the coming years. There has been a continuous rise in the implementation of Industry 4.0 technologies which are operated with the help of sensors. Regulatory bodies have laid down strict framework for features like ADAS in Europe, that shall be a major influence over the optical sensors adoption in automobiles.

India is witnessing a surge in mobile phone manufacturing operations within which will prove to be a notable contribution towards optical sensors industry forecast. As per reports by the Indian Ministry of Electronics and IT, India is expected to produce about 500 million phones by the year 2019. Global optical sensor market size hit more than USD 36 billion in valuation by 2026.

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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 sensor market outlook.

Considering the geographical landscape, numerous government initiatives in U.S. which encourage lightening technology will propel the need of optical sensors in intelligent lighting systems throughout the region. For instance, the city of Chicago is expected to save up to USD 10 million annually by replacing 270,000 city lights with smart LED control lights between 2019-2022.

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On the other hand, surging demand of smartphones in India has led to increasing manufacturing of mobile phones which will drive the optical sensors market. The Indian Ministry of Electronic and IT stated that the country will witness the production of approximately 500 million smartphones in 2019, estimating to USD 46 billion. These factors across India, coupled with strict ADAS policies in Europe are boosting the growth of optical sensor market across the globe.

Prominent companies operating in the optical sensor 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.

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