Optical Sensors Market Size, Value, Growth with a CAGR of 15.52% during the estimated time period
Optical sensor refers to a device that transforms electronic signals from light or infrared rays. For various advanced applications such as occupancy sensing, gesture recognition, smart heating, and lighting, optical sensors are commonly employed.
Increasing focus on building automation along with growing demand from the automotive, manufacturing, consumer electronics and defense industries thereby increasing market development.
Increasing automation adoption across diverse industries such as engineering, aerospace and defense, oil and gas is driving rapid growth in the optical sensors market.
New launches and product development by key players to trigger the market growth
Major industry players are investing in development in optical sensor technology to cater for rising demand in end-use applications.
For instance, Researchers developed a black phosphorus all-fiber humidity sensor for high-performance humidity sensing, and open up new opportunities for potential vapor/gas sensing applications.
Further, FLIR Systems to upgrade persistent surveillance electro-optical sensors for Marine Corps perimeter security.
In addition, in 2019, Xiaomi launched Samsung's 108MP ISOCELL CMOS sensor in its smartphone “Xiaomi Mi Mix 4” to offer users with a standard size camera and pictures of 12032 x 9024 resolutions.
Moreover, in 2019, A new ambient light sensor for sports bands and smartwatches has been introduced by Vishay Intertechnology, Inc.
As well, Hamamatsu Photonics K.K launched an InGaAs area image sensor used to detect short wavelength infrared light in 2019.
Other key players in the optical sensors market include Hamamatsu Photonics K.K. Baumer Electric Ag, Sofradir Ec Inc., Vigo System S.A., Carlo Gavazzi Automation Spa, Teledyne Dalsa, and Aptina Imaging among others.