The ‘Optical Position Sensors Global Market Share, Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global optical position sensors market, assessing the market on the basis of its segments like type, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Optical Position Sensors Market Price, Trends, Growth, Analysis, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 1.9 billion
• Forecast CAGR (2023-2028): 9.10%
• Forecast Market Size (2028): USD 3.2 billion
The optical position sensors market growth is being driven by the increasing applications of optical position sensors across industries, supported by improvements in sensor technology. The demand for consumer electronics is consistently rising globally, driven by rising disposable incomes and increasing affordability of consumer electronics products. In consumer electronics, optical position sensors are commonly used in components such as touchscreens, cameras, gaming controllers, and virtual reality headsets. As touchscreens and cameras become more commonplace across various devices such as smartphones, tablets, and laptops, the demand for optical position sensors is likely to boost further.
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Meanwhile, automotives is another major application aiding the optical position sensors market development. Optical position sensors find extensive uses in automotives, where they aid in improving safety of the vehicle. They are used to detect vehicle positioning, help in parking, and rigger airbags and other safety measures. Additional uses of optical position sensors in automotives include for throttle control, steering wheel positioning, and automatic gear selection. Increasing efforts towards the development of autonomous and self-driving vehicles is anticipated to further increase the demand for optical position sensors in automotives, to improve safety, accuracy, and efficiency of autonomous and self-driving vehicles. Expansion of the automotive sector and increasing incorporation of technologies for added safety would further augment the optical position sensors market.
Optical Position Sensors Industry Definition and Major Segments
Optical position sensors are specialised devices that utilise the characteristics of light such as intensity, phase, polarisation and wavelength to obtain information regarding an object’s position. They utilise sensors to measure the interaction of light with target objects to identify details about the object and do not require any form of direct physical contact with the object itself.
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Based on type, the market is divided into:
• One Dimensional
• Two-Dimensional
• Multi Axial
On the basis of application, the market is classified into:
• Automotive
• Aerospace and Defence
• Healthcare
• Consumer Electronics
• Others
By region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Optical Position Sensors Market Trends
Among the key trends in the optical position sensors market are advancements in optical position sensor technology, leading to the development of advanced and specialised sensors. Investments towards research and development activities towards optical position sensors would increase the accuracy, affordability, and reliability of these sensors, leading to increasing applications. Technologies such as machine vision and robotics are also anticipated to provide opportunities for expansion to the market for optical position sensors. Meanwhile, industrial applications of optical position sensors are expected to increase, streamlining manufacturing and inspection processes for greater efficiency. Usage of optical position sensors for security applications and environmental monitoring is also likely to expand the demand for the market.
At a regional level, the Asia Pacific occupies a growing share in the global optical position sensors market, driven by rapid industrialisation and presence of a strong manufacturing base in countries such as India and China. Increasing disposable incomes and rising demand for consumer electronics and automotives is further increasing the demand for optical position sensors in the region. Furthermore, investments towards healthcare infrastructure are likely to augment the demand for optical position sensors in the region. Expansion of manufacturing of optical position sensors in the Asia Pacific would also aid the market growth in the coming years.
Key Market Players
The major players in the global optical position sensors market report are:
- Siemens AG
- First Sensor AG
- Sensata Technologies, Inc.
- Melexis NV
- Mouser Electronics, Inc.
- Opto Diode Corp
- Zygo Corporation
- Panasonic Corporation
- Exxelia Group
- Bourns, Inc.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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