Global Optical Sensing Market By Industry (Aerospace and Defense, Utilities, Oil and Gas, Medical, Construction, Consumer Electronics, Others), Application (Pressure and Strain Sensing, Temperature Sensing, Geological Survey, Biochemical, Biometric and Ambience, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Optical Sensing Market
Global optical sensing market is expected to register a healthy CAGR of 16.90% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market value can be attributed to increasing demand for advanced security features in smartphones has led to features, such as on-screen fingerprint scan in which an optical sensor detects and verifies fingerprints and sensors which have applications in intelligent lighting as they help in saving power.
Market Definition: Global Optical Sensing Market
A dedicated sensor which converts optical signals into electronic signals is an optical sensor. It is comparable to a photo resistor's functionality, it analyses the physical quantity of light and transforms it into a form that a measuring instrument can interpret. Most often, this variation or change is based on modifications in light intensity. Broad purposes such as imaging, quality and process control, metrology, remote sensing, medical technology, among others, have been commonly implemented.
- The ease of accessibility of excellent quality and affordable optical fibers and optoelectronic parts helping the evolution of optical sensors for biological applications
- Increasing demand for sophisticated smartphone security features has resulted to features including fingerprint scans on-screen, an optical sensor that senses and validates fingerprints
- Increasing demand for sensors having applications in intelligent lighting, they help in saving power
- Constant technological developments in optical sensors are driving the growth of the market
- Comparatively high cost of optical sensors hinders the market growth
- Limited standardization as well as lack of awareness regarding its functionality are restraining optical sensors market growth
- Less acceptability of optical sensors is responsible for hampering the growth of optical sensor market
Segmentation: Global Optical Sensing Market
- Aerospace and Defence
- Oil and Gas
- Consumer Electronics
- Others (Chemicals, Transportation, and Marine)
- Pressure and Strain Sensing
- Temperature Sensing
- Geological Survey
- Biometric and Ambience
- Others (Radiation Sensing, Flow Sensing, and Partial Discharge Detection)
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market
- In November 2018, ams has launched a new CSG14K image sensor for Automated Optical Inspection (AOI) for high-throughput manufacturing and optical sensing applications. For a resolution of 14 megapixels, the CSG14 K image sensor is constructed around a 3840-by 3584-pixel array. The 12-bit output will provide the big dynamic range required to manage the big light intensity differences that are frequently experienced in contemporary production and inspection settings
- In August 2019, Huami has introduced a new Amazfit Verge Lite smartwatch in India. It is fitted with real-time surveillance to monitor seven distinct fitness operations such as running, cycling and elliptical training. For a more accurate and reliable heart rate monitoring information, the smartwatch features a self-developed high-precision optical sensor. It also offers 24 hours of ongoing heart rate surveillance with an extensive daily and weekly perspective of the situation of the heart
Global optical sensing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of optical sensing market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global optical sensing market are Fotech Solutions Ltd., Intelligent Fiber Optic Systems Corporation (IFOS), OptaSense, Silixa Ltd, RJC Enterprises, LLC., Oxsensis, Teledyne Technologies Incorporated, AlphaSense, Vishay Intertechnology, Inc., STMicroelectronics, Texas Instruments Incorporated, Analog Devices, Inc., Semiconductor Components Industries, LLC, ams AG, Hamamatsu Photonics K.K., ABB, ROHM SEMICONDUCTOR and others.
Research Methodology: Global Optical Sensing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved