About Optical Sensors
Optical sensors are devices that convert light or infrared rays into electronic signals. They can function in the presence or absence of light or infrared spectrum and form a part of a large electronic system. A signal from an optical sensor is analyzed or interpreted in different ways to detect the presence of a person, capture an image, or determine the position or movement of an object.
Technavio’s analysts forecast the global optical sensor market to grow at a CAGR of 9.7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global optical sensor market for the period 2016-2020. To calculate the market size, the report considers the sale of optical sensors to global industries, individual customers, and government authorities.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Optical Sensors Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Optical Sensors Market: Baumer Group, First Sensor AG, Honeywell International Inc., Omron Corporation, Robert Bosch GmBH, and Rockwell Automation.
Other Prominent Vendors in the market are: Eaton, General Dynamics, Micron Optics, Samsung Semiconductor, Sick, Smart Fibres, and STMicroelectronics.
Commenting on the report, an analyst from Technavio’s team said: “Wearable technology is a mobile form of communication technology that is worn on the body and can be used to monitor daily activities and access smartphone functionalities. It includes smart watches, smart fabrics, and heart rate monitors that are integrated with optical sensors to monitor daily physical activities. With it, users can monitor their daily physical activity and keep track of their fitness level. The technology is set to gain significant momentum during the forecast period due to its adoption by the consumer segment.”
According to the report, one of the major factors driving the growth of this market is the increasing proliferation of smartphones and tablets. With the increasing adoption of smartphones, manufacturers are adding extra features and applications to differentiate their products from other manufacturers. Further, the 4G rollout in leading nations such as China, France, Germany, Japan, India, Singapore, the UK, and the US has resulted in the deployment of LTE technology in the market. The technology enables mobile devices to deliver high-quality services — such as high-speed data traffic supporting Internet browsing, voice, and video — to smartphone users.
Further, the report states that one of the major issues hindering the growth of the global optical sensor market is the high initial and upgrading costs.
Baumer Group, First Sensor AG, Honeywell International Inc., Omron Corporation, Robert Bosch GmBH, Rockwell Automation, Eaton, General Dynamics, Micron Optics, Samsung Semiconductor, Sick, Smart Fibres, STMicroelectronics.