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Optical Sensor Market Opportunities, Analysis And Industry Forecast 2024-2033
Optical Sensor Market Opportunities
As per the report, the optical sensor market size has grown rapidly in recent years. It will grow from $26.26 billion in 2023 to $29.19 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The optical sensor market size is expected to see rapid growth in the next few years. It will grow to $43.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
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Robotics And Automation Driving Growth In the Optical Sensor Market
The growth of robotics and automation is expected to propel the growth of the optical sensor market going forward. Robotics and automation refer to using robotic devices or artificial intelligence to automate tasks without human intervention. The demand for robotics and automation is driven by efficiency and safety, increased productivity, flexibility, and customization. Optical sensors help robotics and automation by providing crucial information for object detection, distance sensing, positioning, quality control, and safety applications, enhancing the capabilities and efficiency of automated systems. For instance, according to the World Robotics Report published by the International Federation of Robotics (IFR), a Germany-based non-profit organization, in 2021, the installation of robots reached 517,385 in factories worldwide, representing a growth rate of 31% year-on-year. Therefore, the growth of robotics and automation will drive the growth of the optical sensor market.
Revolutionary Deployable Optical Sensor Modules For Simplified Vision System Development
Major companies operating in the optical sensor market are developing advanced technologies, such as FSM: GO, to simplify vision system development. FSM: GO are small image systems that enable the insertion of specialized vision technologies into machines and devices, allowing them to sense their environment. For instance, in January 2024, FRAMOS GmbH, a Germany-based technology provider, launched FSM: GO, a complete system of deployable optical sensor modules that allow machines to see and think. It is a versatile prototyping tool that is ready for immediate use in large-scale production. FSM: GO provides a carefully curated set of pre-selected sensors matched with optimally focused lenses to produce exceptional off-the-shelf image quality. FSM: GO aims to simplify embedded vision development processes by providing a versatile prototyping tool ready for immediate deployment in mass production.
The optical sensor market covered in this report is segmented -
1) By Type: Fiber Optics, Position Sensors, Image Sensors, Ambient Light Sensors, Proximity Sensors, Infrared Sensors
2) By Application: Pressure And Strain Sensing, Temperature Sensing, Geological Survey, Biometric
3) By Vertical: Consumer Electronics, Industrial, Aerospace And Defense, Oil And Gas, Automotive, Healthcare
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Major companies operating in the optical sensor market are Sony Corporation, Panasonic Holdings Corporation, Honeywell International Inc., Broadcom Inc., ABB Ltd., Texas Instruments, T.E. Connectivity Ltd., STMicroelectronics, Infineon Technologies AG, NXP Semiconductor Inc., Analog Devices Inc., ON Semiconductor Corporation, Keyence Corporation, OMRON Corporation, Teledyne Technologies Inc., ams AG, ROHM Semiconductor, Sick AG, Hamamatsu Photonics, ifm electronic gmbh, Vishay Intertechnology, Balluff Webshop UK, First Sensor AG, AlphaSense, Oxsensis Ltd., Rockwell Automation
Contents of the report:
1. Executive Summary
2. Optical Sensor Market Report Structure
3. Optical Sensor Market Trends And Strategies
4. Optical Sensor Market - Macro Economic Scenario
5. Optical Sensor Market Size And Growth
…..
27. Optical Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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