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  • Optical Sensors Market, Size, Share and Forecast (2019-2026)




    (I-SoftwareNews.Com, December 24, 2019 ) Market Overview

    Optical Sensor is a device that converts light or the infrared rays to electronic signals that are mainly used in various applications for detecting heat, light, temperature, and gestures.

    Global Optical Sensors market is accounted for a market value of USD YY billion in 2017 and is expected to grow at a CAGR of Y% to reach USD YY billion by 2025. Global Optical Sensors market value, 2016 to 2025 (in USD billion).



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    Market Dynamics

    Increasing demand in the healthcare sector with the use of optical sensors in gastroenterology, cardiovascular & intensive care, angiology, ophthalmology, oncology, and others is driving the market growth in recent years.

    Rising use of optical sensors technologies in smartphones and consumer applications for restore recognition, eye tracking, and 3D mapping will further drive the market growth in the forecast period to 2025.

    The freeform optics and nontraditional surface geometry are the key challenges faced in the manufacturing of optical sensor globally.



    Market Segmentation

    Global Optical Sensors market is segmented by product type, and by application type.

    By Product type, the market is segmented as an image sensor, light sensor, motion sensor, fiber optic sensor, and others. The image sensor is accounted for significant share and is expected to have stronger growth in the forecast period to 2025.

    The growth will be mainly due to the increasing use of image sensors in high-end use cell phones that offers compact, passive, and lightweight features.

    By application type market is segmented as consumer electronics, industrial, aerospace and defense, healthcare and others. Aerospace and defense segment is expected to show strong growth in the forecast period to 2025. The increase will be mainly due to improved sensor technologies including optoelectronics that offers enhanced sensing, communication and weaponry systems.



    Geographical Analysis

    By Geography the market is segmented into the Americas, Europe, Asia Pacific and rest of the World.

    Asia Pacific region is estimated to show strong growth in the market for Optical Sensors in the forecast period and is mainly due to the increasing demand of optical sensors, especially for consumer electronics from Asian countries such as India, China, and South Korea.



    Competitive Analysis

    Key players in the industry are Canon, Sony, Baumer Electric Ag, ABB Ltd., Sofradir Ec Inc., Analog Devices Inc., and others.

    Industry players are undergoing mergers and acquisitions to be competitive in the market. For instance, in November 2018, II-VI Inc is looking to acquire optical-technology, and communications firm Finisar for USD 3.2 billion and the acquisition is expected to be closed by mid of 2019.



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    DataM Intelligence

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    +1 877 441 4866

    pr@datamintelligence.com

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