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Global Optical Sensors Market - Segmented by Technology (Hyper Spectral Imaging, Near IR Spectroscopy, and Photo-acoustic Tomography), Sensor Type (Fiber Optic Sensors, Image Sensors, and Position Sensors), Optocouplers (4-Pin Optocouplers, 6-Pin Optocoup

Global Optical Sensors Market - Segmented by Technology (Hyper Spectral Imaging, Near IR Spectroscopy, and Photo-acoustic Tomography), Sensor Type (Fiber Optic Sensors, Image Sensors, and Position Sensors), Optocouplers (4-Pin Optocouplers, 6-Pin Optocouplers, and High-Speed Optocouplers), Application (Commercial, Consumer Electronics, Medical, Automotive, Industrial, and Aerospace & Defense), and Region - Growth, Trends, And Forecast (2018 - 2023)

The global optical sensor market was worth USD 17.42 billion in 2017 and is projected it to grow to USD 26.88 billion by 2023 at a CAGR of 7.50% over the forecast period (2018-2023). The report is segmented based on technology and the type of sensors offered by the major players in the market. Apart from this, the report also focuses on the various optocouplers available. While the regions considered in the report include North America, Europe, and various others. The study also focuses on various trends in the market such as the advent of miniaturized versions, and the increasing proliferation of advanced electronics products.

The global optical sensors market is expected to grow at a steady pace over the forecast period. This growth is due to the advancements in mobile technology resulting in new features and models. These advancements are expected to change the scenario for silicon technology as well. Moreover, the need for power-saving technologies is also changing the market, with companies shifting their focus toward the silicon technology. The optical sensors market is also witnessing the development of sensors for niche, yet specific applications, including diffused device with intensity difference to detect the presence of filters in coffee capsules, and laser distance sensors for measuring the thickness of medicinal capsules. In addition, the continuous persistence in innovation has improved investment opportunities in the optical sensors industry to improve fabrication techniques and enhance the sensing abilities at significantly lower costs, thus, ensuring high profit margins and better sales.

Increasing Penetration of Automation Techniques across Industries

There has been an increase in automation across several industries, globally. This has further increased the demand for optical sensors, across industry verticals. The latest technological breakthroughs have assisted the advancement of new optical sensors that can make the overall processes more efficient, and can significantly improve accuracy across various applications. There have been a series of new product launches, mergers, and acquisitions, at a global level to take the advantages offered by optical sensors. The major driver behind investments has been the continuous evolution and application of new technologies to unlock enormous volumes, which were previously considered non-commercial. These series of investments the automotive, power & utilities, and energy & mining applications are set to boom the optical sensor market over the forecast period.

Advancements in Hyper Spectral Imaging to Augment the Growth

Hyper spectral imaging integrates spectroscopy and digital imaging. A hyper spectral device helps in capturing a large number of spectral bands. Over the past few years, several technological advancements have led to the penetration of the hyper spectral technology, over a wide range of applications, these technologies include satellite-based airborne sensing and target detection for military, along with the quality control processes for industrial applications. Owing to its ability in ensuring rich information content, the hyper spectral technology is widely accepted for automation in image processing techniques. These devices are capable of acquiring data that can be easily comprehended by the human eye. In the recent years, these sensors have witnessed a high penetration rate in the areas of research, to gain more accurate and reliable data for various applications.

Growth in Fiber Optic Sensors Segment to Drive the Market

Over the past few years, optical fibers have seen significant in-roads across various sensors application, because of their small size and the ability to transmit huge amounts of data without complexion, by consuming only a minimal or low electrical power for signal transmission. One of the key features of fiber optic sensors is that they do not face any interruption from electromagnetic waves and do not conduct electricity. Hence, they can be used in such places, where, high voltage current along with flammable materials are present.

Moreover, the technological advancements in photonics have been very fast in comparison to other technologies. The photonics involvement in other potential technologies has grown enormously. Optical fibers have a major role in communication as well as in the development of different types of sensors.

Key Developments in the Market

  • February 2017 - ROHM announced the market availability of an optical sensor for heart rate monitoring optimized for wearable devices, such as sports bands and smart watches. The product BH1790GLC leverages proprietary analog circuit technology and optical sensor expertise to enhance sensitivity, allowing pulse waves to be detected with high accuracy, even with low LED brightness, resulting in low power consumption.
  • October 2017 - AOMS Technologies Inc. announced the deployment of its patented fiber optic sensing technology (AOMS-FOS) for monitoring of soil and groundwater during In-Situ Thermal Remediation (ISTR) projects in Europe. It is the maiden deployment of AOMS-FOS technology in Europe after adoption in North America, including Superfund remediation sites in the US.

Reasons to Purchase this Report
  • The growing smartphone penetration across various countries is changing the market scenario
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To determine the sensor type and application expected to dominate the market
  • Regions expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)
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1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Rapid Technological Innovation
4.2.2 Growing Smartphone Penetration
4.2.3 Increasing Demand for Power Saving Devices Across Industries
4.2.4 Increasing Penetration of Automation Techniques Across Industries
4.3 Factors Restraining the Market
4.3.1 Imbalance Between the Image Quality and Price
4.3.2 Lack of Knowledge
4.4 Market Trends
4.4.1 Introduction of Miniaturized Versions
4.4.2 Increased Proliferation of Advanced Electronics
4.4.3 Increasing Number of Patents
4.4.4 Increasing Adoption across Industries
4.5 Industry Attractiveness – Porter's Five Industry Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors
5. Global Optical Sensors Market Segmentation
5.1 By Technology
5.1.1 Hyperspectral Imaging
5.1.2 Near IR Spectroscopy
5.1.3 Photo-Acoustic Tomography
5.1.4 Optical Coherence Tomography
5.2 By Sensor Type
5.2.1 Fiber Optic Sensors
5.2.2 Image Sensors
5.2.3 Position Sensors
5.2.4 Ambient Light and Proximity Sensors
5.2.5 Infrared Sensors
5.2.6 Others
5.3 By Application
5.3.1 Commercial
5.3.2 Consumer Electronics
5.3.3 Medical
5.3.4 Automotive
5.3.5 Industrial
5.3.6 Aerospace & Defence
5.3.7 Others
5.4 Optocouplers Segmentation By Type
5.4.1 4-pin Optocouplers
5.4.2 6-pin Optocouplers
5.4.3 High-speed Optocouplers
5.4.4 IGBT Gate Driver Optocouplers
5.4.5 Isolation Amplifier Optocouplers
5.5 By Region
5.5.1 North America United States Canada
5.5.2 Europe United Kingdom Germany France Rest of Europe
5.5.3 Asia-Pacific China Japan India Rest of Asia-Pacific
5.5.4 Latin America Brazil Mexico Argentina Rest of Latin America'
5.5.5 Middle East and Africa UAE Saudi Arabia South Africa Rest of Middle East & Africa
6. Competitive Intelligence – Company Profiles
6.1 ON Semiconductor
6.2 Microchip Technology Inc.
6.3 Eaton Corporation Plc
6.4 Honeywell International Inc
6.5 Omnivision Technologies Inc
6.6 Pepperl+Fuchs International
6.7 Rockwell Automation Inc
6.8 Sick AG
6.10 STMicroelectronics
6.11 Texas Instruments Incorporated
* List is not exhaustive
7. Investment Analysis
8. Future Outlook of Optical Sensors Market

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