Optical Sensors Market Scope
An optical sensor serves as a transducer to transform the light signal into the necessary electronic format. They can primarily be divided into internal and exterior optical sensors based on type. While internal sensors are mostly utilised to detect or measure bends and changes in direction, exterior sensors are used to collect and transmit the necessary amount of light. High-performance, dependable, and affordable sensors are becoming more and more in demand as micro- and nanotechnologies advance. The development of the loT system is a key driver for rising demand of the optical sensor market.
|Unit||Value (USD Million)|
|Key Companies Profiled||STMicroelectronics (Switzerland), ROHM Semiconductor (Japan), AMS AG (Austria), Fairchild Semiconductor (United States), ABB (Switzerland), Analog Devices Inc. (United States), Hamamatsu Photonics K.K. (Japan), Alphasense (United Kingdom), Texas Instruments Inc. (United States) and Vishay Intertechnology, Inc. (United States)|
Global Optical Sensors is a fragmented market due to the presence of various players. The players are focusing on investing more in R&D activities for innovations. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
STMicroelectronics (Switzerland), ROHM Semiconductor (Japan), AMS AG (Austria), Fairchild Semiconductor (United States), ABB (Switzerland), Analog Devices Inc. (United States), Hamamatsu Photonics K.K. (Japan), Alphasense (United Kingdom), Texas Instruments Inc. (United States) and Vishay Intertechnology, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are OptaSense Ltd (United Kingdom), Intelligent Fiber Optic Systems Corporation (United States), Teledyne DALSA Inc. (Canada), Fotech Solutions Limited (United Kingdom), Oxsensis Ltd. (United Kingdom), Silixa Ltd. (United Kingdom) and RJC Enterprises LLC (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Optical Sensors market by Type , by Application (Temperature Sensing, Biochemical, Pressure and Strain Sensing, Geological Survey, Biometric and Ambience and Others) and Region with country level break-up.
On the basis of geography, the market of Optical Sensors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn March 2022, KYOCERA AVX was set to acquire ROHM Semiconductor’s tantalum and polymer capacitor business assets. The two companies recently reached a final agreement, which states that ROHM Semiconductor will transfer its tantalum and polymer capacitor business assets including all of its tantalum and polymer capacitor manufacturing lines and relevant intellectual property to KYOCERA AVX.
In August 2022, a doctorate student at The University of Alabama in Huntsville has created a novel type of ultrasensitive optical sensing equipment in research that has the potential to significantly advance science, medicine, and engineering.
Influencing Trend:Increasing Usage of Optical Sensors in Aerospace and Defense Industry and Rising Adoption Optical Pressure and Temperature Measurement Sensors in Oil & Gas Industry
Market Growth Drivers:Physical Properties Suitable for Sensing in Harsh Environments and Constant Technological Developments in Optical Sensors
Challenges:Need for Developing Cost-Effective Sensors
Restraints:Cheaper Substitutes to Optical Sensors
Opportunities:Promising Industrial IoT Applications, Rapid Growth in Smart Cities, Buildings, Homes Projects and Rising Applications in Healthcare
Key Target AudienceOptical Sensors Developers, Vertical Industry, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others