According to the latest market research report “Optical Sensors Market Analysis: By Types (Position, Light, Image, Photoelectric, Photodetectors, Motion); Verticals (Material Handling, Building Automation, Manufacturing, Packaging, Security & Surveillance) – With Forecast (2015-2020)”, published by IndustryARC, the global optical sensor market is slated to grow at 9.81% CAGR year on year for next 5 years to reach $34billion by 2020
Browse 64 Market Tables, 48 Figures spread through 180 Pages and an in-depth TOC on “Optical Sensors Market”
Optical sensors are electronic detectors which work on the presence or absence of light or infrared rays and convert the same into an electronic signal. Usually they are part of a much larger system where this electronic signal is interpreted or analyzed in different ways to produce a result like presence of a person, capturing an image, movement of an object or position of an object and so on.
The Global Optical Sensor Market is rapidly growing across the globe due to the increase in demand for the handheld devices like tablets and smart phones. Smart phones and Tablets are the key growth contributors and as long as the market persists there will be increase in demand for optical sensors like light and proximity sensors. On the other hand image sensor market is skyrocketing compared to other sensors as it’s very widely used. The Market for image sensors goes from cameras to medical applications. The wide market for image sensors is making it the largest segment in the optical sensor industry. The Global Optical Sensor Market is slated to grow at 9.81% CAGR year on year to reach $34 Billion by 2020.
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The global automation industry, particularly the process automation and industry is growing at around 6.3% and they are the primary growth drivers for the global optical sensors market. Increasing use of automation in different industry verticals like food and beverage, chemicals, petrochemicals, paper and pulp, packaging drives the need for installation of products or hardware which uses optical sensors on a larger scale. Image sensors are used in machine vision based products for assembly line monitoring and other automation purposes. Color sensors for example are used in the packaging, food and beverage industry for accuracy purposes. Compared to image sensors they are cheaper, faster and can be replaced easily.
The Major Companies in Image Sensors Market Are:
- OmniVision Technologies, Ltd. (U.S.)
- Aptina Imaging Corporation (U.S.)
- Samsung Electronics Co., Ltd. (South Korea)
- Sony Corporation (Japan)
- Toshiba Corporation (Japan).
Health monitoring and fitness offering huge market potential for Wearable Optical Sensors
Optical Sensors have created a growing attention in health monitoring through various applications that can be integrated with wearable gadgets which include watches, smart phones and fitness equipment. Optical sensors enlarge the opportunities through self-observation and also provide features like pulse rate, oxygen levels and saturation levels through small gadgets for wrist and fingers which is more convenient.
Wearable optical sensors manufactured with plastic semiconductors are now currently emerging into the market as low cost and disposable products. Wearables are significant for regular monitoring and the main advantage is the product is of light weight, flexible and easy to manufacture. These are light-based sensors which can be used to monitor the changes in the body by detecting the muscle contraction and expansion accordingly. A very stimulating conceivable use of the optical sensor is the process of monitoring the prosthetic limbs and possibly artificial heart without any insertion of needles into the body. The optical sensors technology in health care with various portable devices is driving the medical tests from hospital to home. The various health monitoring wearable devices that are available in the market are limited to being fitness devices which would definitely need sprucing up for use in Healthcare and Medicine.
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