Global Optical Position Sensor Market 2018-2022
About Optical Position Sensor
An optical position sensor is a device, which is used to detect the position of the targeted object. It is integrated into items such as cameras, barcode readers, smart wearables, televisions, laser printers, and others.
Technavio’s analysts forecast the global optical position sensor market to grow at a CAGR of 10.23% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global optical position sensor market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Optical Position Sensor Market 2018-2022
Technavio recognizes the following companies as the key players in the global optical position sensor market: First Sensors, Hamamatsu Photonics, Sensata Technologies, and SHARP.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emerging concept of autonomous vehicle. The transportation industry is undergoing a fundamental and a dramatic change in the development of self-driving cars. The concept of automation and self-driving car without compromising the safety of the passenger is continuously rising.”
According to the report, one driver in the market is growing applications in automotive industry. The applications of optical sensors in the automotive industry are continuously rising. The optical sensors are commonly used in automobiles to enhance vehicle safety while driving and help during emergencies such as accidents. For example, optical position sensors are used to release the airbags in case of a crash and are being used as parking assistance to detect the vehicle position and obstruction.
Further, the report states that one challenge in the market is lack of international standards hindering performance. Optical position sensor-based machines and equipment require a degree of regulation to ensure that they are electrically, biologically, chemically, and physically safe for the end-user. The degree of regulation and standard required depends on the level of risk associated with the device. The manufacturing of optical position sensor has no standard sets of rules to determine the performance of position sensors currently.