San Francisco, 22 March 2024: The Report Optical Sensors Market Size, Share & Trends Analysis Report By Type (Extrinsic Sensor, Intrinsic Sensor), By Sensor Type (Fiber Optic Sensor, Photoelectric Sensor), By Application, By End-use, By Region, And Segment Forecasts, 2024 – 2030
The global optical sensors market size is anticipated to reach USD 54.83 billion by 2030, registering a CAGR of 11.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors such as the rising adoption of automation in various industries and growing demand for consumer electronics products such as smartphones, laptops, & wearable smart devices are driving market growth. Moreover, the increasing demand for optical sensors in consumer electronics, healthcare, automotive, and aerospace & defense industries presents significant growth opportunities for the market.
Robots now perform various duties in electronics, industrial, and automobile manufacturing industries. Industrial robots use many sensors for excellent manipulation and control in industrial automation manufacturing techniques. The sensors enable it to respond to its surroundings flexibly, and cutting-edge sensor technology raises its IQ to new heights. Sensor technology is a critical applied science for industrial robots.
The growing use of industrial robots is expected to drive the optical sensors industry. For instance, India set a new installation record for industrial robots, reaching 4,945 units, marking a 54% surge compared to the prior year (3,215 units in 2020). It places India at the tenth position globally for annual installations, as the International Federation of Robotics (IFR) reported in their World Robotics report.
Access Research Report of Optical Sensors Market @ https://www.grandviewresearch.com/industry-analysis/optical-sensors-market-report
Optical Sensors Market Report Highlights
- Based on type, intrinsic sensors dominated the market with a 55.0% share in 2023. A rising trend involves combining intrinsic sensors with emerging technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI). This integration aims to facilitate broader and smarter data analysis across various industries for diverse applications
- Based on sensor type, biomedical sensors are expected to grow at the fastest CAGR over the forecast period. Wearable sensors have been increasingly used in monitoring health indicators like pulse rate, ECG, heart rate, blood pressure, and body temperature. Their application includes personalized medicine and the identification of cancer biomarkers across various diseases
- Based on application, the temperature sensing segment held a significant market share in 2023. Temperature sensors have applications in different sectors, including healthcare, automotive, food, and industrial. The most common applications for body temperature sensors are measuring skin temperature, forehead temperature, or ear temperature
- Asia Pacific dominated the market and accounted for a 40.9% share in 2023. Expansion in automotive sales and technological advancement in consumer electronics in the Asia Pacific region is expected to fuel the market growth. The region has a rising demand for products like smartphones, tablets, PCs, and smartwatches. In the first quarter of 2022, India witnessed a surge of 48% in PC shipments, reaching an exceptional 5.8 million units
Optical Sensors Market Report Scope
| Report Attribute | Details |
| Market size value in 2024 | USD 28.07 billion |
| Revenue forecast in 2030 | USD 54.83 billion |
| Growth rate | CAGR of 11.8% from 2024 to 2030 |
| Base year for estimation | 2023 |
| Historical data | 2018 – 2022 |
| Forecast period | 2024 – 2030 |
List of Key Players in Optical Sensors Market
- ams-OSRAM AG
- Semiconductor Components Industries, LLC
- TOSHIBA CORPORATION
- Texas Instruments Incorporated
- Renesas Electronics Corporation
- ROHM CO., LTD
- STMicroelectronics
- Rockwell Automation
- SICK AG
- Vishay Intertechnology, Inc
- Honeywell International Inc.
- ifm electronic gmbh
- KEYENCE CORPORATION
- Cisco Systems, Inc.
- Amphenol Corporation
Access Press Release of Optical Sensors Market @ https://www.grandviewresearch.com/press-release/global-optical-sensors-market
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