Report Overview

Global Optical Sensors Market- Industry Trends & Forecast Report 2028

The global optical sensors market is anticipated to grow at a CAGR of 7% during 2022-2028 on account of rising demand for various consumer electronic devices, including smartphones, laptops, tablets, etc., along with other electric devices, such as alarm systems, pulse oximeters, Fitbit, etc. Furthermore, rapid technological advancements and increasing application in healthcare devices are anticipated to drive market growth during the forecast period.

Optical Sensors - Overview

Optical sensors are electronic detectors used for converting light rays into electronic signals. These sensors act as photoresistors and can detect electromagnetic radiation from the infrared up to the ultraviolet wavelengths. There are various types of optical sensors available in the market such as photoconductive devices, photovoltaics, photodiodes, etc. Optical sensors are most prominently used in smartphones, smartwatches, etc. These devices can also be found in turbine blade monitoring, offshore platform monitoring, as well as in civil and transportation fields.

Global Optical Sensors Market Forecast and Trends

Growth Drivers

Rising Demand for Consumer Electronic Devices

Consumer electronics companies are increasingly manufacturing consumer electronic devices due to a surge in global demand, which is fueling market growth for optical sensors. Consumer electronic devices such as smartphones, tablets, and other portable devices use optical sensors primarily to control the display backlight automatically. These sensors also prove to help extend the battery life. These sensors also prove to help extend the battery life. It is also being used in other applications that include pressure, proximity, touch, temperature, motion, etc.

Technological Advancements in Optical Sensors

With rising demand for optical sensors in the global market and increasing competitiveness among market players, companies are significantly investing in research and development activities to bring innovations into their products. These technological advancements are anticipated to present lucrative growth opportunities to the market in the upcoming years. For instance, developments in distributed fiber sensors are gaining huge popularity as it allows continuous, real-time measurements. This is anticipated to drive the market growth during the forecast period.

Restraints

Growing Shift Towards Optical Sensor Substitutes

Optical sensors are more expensive than other conventional sensors, which eventually increases the price of the electronic device. Therefore, the device manufacturers are increasingly looking for alternatives to keep their product price competitive. Magnetic rotary positions sensors, for instance, are emerging as a possible alternative for optical sensors. These types of sensors also have lower costs compared to optical sensors and provide higher accuracy. These factors may limit the growth of the global optical sensors market in the upcoming years.

Impact of COVID-19 on the Global Optical Sensors Market

The COVID-19 pandemic negatively impacted the growth of the global optical sensors market during the initial outbreak. The demand for smartphones and other health monitoring devices spiked after the outbreak. However, the restrictions on the production and supply chains resulted in huge demand and supply gaps, due to which the market had to bear huge losses. Furthermore, the heavy shortage of semiconductor chips globally emerged as another challenge for the optical sensors market since most sensors operate using semiconductors, which significantly restricted the market growth.

Global Optical Sensors Market - By Type

Based on types, the optical sensors market is segmented into extrinsic optical sensors and intrinsic optical sensors. The intrinsic optical sensor holds the largest market share owing to its popular use in consumer electronics as well as medical devices. These types of sensors are used for measuring strain, temperature, pressure, and other quantities, which makes them useful in devices, such as pulse oximeters, Fitbit, health monitoring devices, etc., which is driving its market growth.

Global Optical Sensors Market - By Application

Based on applications, the global optical sensors market is segmented into industrial, medical, biometric, automotive, consumer electronics, and others. The consumer electronic segment accounts for the largest market share owing to the prominent use of optical sensors in devices, such as smartphones, smartwatches, tablets, laptops, etc. The demand for smartphones spiked significantly post the COVID-19 pandemic outbreak due to a shift towards work-from-home culture, which is anticipated to fuel the optical sensors market growth as well.

Global Optical Sensors Market - Regional Insights

Geographically, the global optical sensors market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the optical sensors market because of the high demand for consumer electronic goods, specifically smartphones, in this region. Moreover, the presence of leading optical sensor companies in North America such as ON Semiconductors, Vishay Intertechnology, etc., that significantly invest in innovations and expand the application of optical sensors is anticipated to present lucrative growth opportunities to the market.

Global Optical Sensors Market: Competitive Landscape

The leading market players in the global optical sensors market are Keyence Corporation, TE Connectivity, ON Semiconductors, Panasonic Corporation, Omron Corporation, Vishay Intertechnology, ROHM Co., Ltd., Texas Instruments Incorporated, Sick AG, Fotech Solutions Ltd., Fairchild Semiconductor International, Inc., Intelligent Fiber Optic Systems Corporation, Sony Corporation, OptaSense, Infineon Technologies AG, Silixa Ltd, Hamamatsu Photonics K.K., Teledyne Technologies Incorporated, AlphaSense, Analog Devices, Inc., and other prominent players.

The global optical sensors market is highly competitive due to the presence of several multinational and regional industry players. The companies significantly invest in R&D activities to improve their products and bring innovations to gain a competitive edge. They are also focusing on improving their distribution channel to expand their business footprint beyond geographical boundaries to boost their revenue. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Global Optical Sensors Market: Recent Developments

• In February 2022, OpSens Inc., a Canadian medical device company, announced the extension of its supply agreement with Abiomed, Inc., for its Sensor Technology by four years.
• In January 2022, Xiaomi, the Chinese consumer electronics giant, announced the launch of the Gaming Mouse Lite, a new gaming mouse in China with Pixart 3327, an optical sensor that supports up to 6,200 DPI.

Scope of the Report:

By Type

• Extrinsic Optical Sensor
• Intrinsic Optical Sensor

By Sensor Type

• Fiber Optic Sensor
• Image Sensor
• Photoelectric Sensor
• Ambient Light
• Proximity Sensor
• Others

By Application

• Industrial
• Medical
• Biometric
• Automotive
• Consumer Electronics
• Others

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America (LATAM)
• Middle-East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary and Secondary Sources
   2. Quantitative Research
      1. Primary and Secondary Sources
   3. Breakdown of Primary Research Respondents
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Industry Participants
   5. Key Questionnaire asked during Primary Interviews
   6. Key Primary Responses
   7. Market Size Estimation
   8. Assumption for the Study
   9. Market Breakdown & Data Triangulation
3. Executive Summary
4. Global Optical Sensors Market – Industry Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunity
      4. Challenges
   3. Recent Developments / Technical Landscape
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
5. Global Optical Sensors Market Overview
   1. Market Estimates & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product Type
         1. Fiber optic sensor
            1. Extrinsic Optical Sensor
            2. Intrinsic Optical Sensor
         2. Image sensor
         3. Light sensor
         4. Motion sensor
         5. Proximity Sensor
         6. Others
      2. By End-User
         1. Aerospace and Defense
         2. Consumer Electronics
         3. Industrial
         4. Healthcare
         5. Automotive
         6. Others
      3. By Region
         1. North America
         2. Europe
         3. The Asia-Pacific
         4. Latin America
         5. The Middle-East & Africa
6. North America Optical Sensors Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. U.S.
         2. Canada
7. Europe Optical Sensors Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. Germany
         2. U.K.
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. Asia-Pacific Optical Sensors Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. Latin America Optical Sensors Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. Mexico
         2. Brazil
         3. Rest of Latin America
10. Middle East & Africa Optical Sensors Market Overview
    1. Market Size and Forecast
       1. By Value (USD Million), 2018-2028
    2. Market Share and Forecast
       1. By Product Type
       2. By End-User
       3. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Producers and Their Offerings
    2. Market Share / Ranking Analysis (2021)
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Developments & Growth Strategies
12. Impact of COVID-19 Across Industry
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Canon Inc.
    2.  Sony Corporation
    3.  Baumer Electric AG
    4.  ABB Ltd.
    5. Rockwell Automation Inc.
    6.  Analog Devices Inc.
    7. Honeywell International Inc.
    8. NXP Semiconductors N.V.
    9. Qualcomm Technologies Inc.
    10. STMicroelectronics N.V.
    11. Robert Bosch GmbH
    12. Hewlett Packard Enterprise Development LP
    13. Johnson Controls international PLC
    14. Texas Instruments Inc.
    15. Other prominent players
14.  Key Strategic Recommendations

* Financial information of non-listed Companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.

List of Figures

Figure 1: Global Optical Sensors Market Segmentation

Figure 2: Global Optical Sensors Market Porters Analysis

Figure 3: Global Optical Sensors Market Industry Value Chain Analysis

Figure 4: Global Optical Sensors Market Size, By Value (USD Million), 2018-2028

Figure 5: Global Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Figure 6: Global Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Figure 7: Global Optical Sensors Market Share, By End-user, By Value, 2018-2028

Figure 8Global Optical Sensors Market Share, By Region, By Value, 2018-2028

Figure 9: North America Optical Sensors Market Size, By Value (USD Million), 2018-2028

Figure 10: North America Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Figure 11: North America Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Figure 12: North America Optical Sensors Market Share, By End-user, By Value, 2018-2028

Figure 13: North America Optical Sensors Market Share, By Country, By Value, 2018-2028

Figure 14: Europe Optical Sensors Market Size, By Value (USD Million), 2018-2028

Figure 15: Europe Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Figure 16: Europe Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Figure 17: Europe Optical Sensors Market Share, By End-user, By Value, 2018-2028

Figure 18: Europe Optical Sensors Market Share, By Country, By Value, 2018-2028

Figure 19: Asia-Pacific Optical Sensors Market Size, By Value (USD Million), 2018-2028

Figure 20: Asia-Pacific Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Figure 21: Asia-Pacific Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Figure 22: Asia-Pacific Optical Sensors Market Share, By End-user, By Value, 2018-2028

Figure 23: Asia-Pacific Optical Sensors Market Share, By Country, By Value, 2018-2028

Figure 24: Latin America Optical Sensors Market Size, By Value (USD Million), 2018-2028

Figure 25: Latin America Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Figure 26: Latin America Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Figure 27: Latin America Optical Sensors Market Share, By End-user, By Value, 2018-2028

Figure 28: Latin America Optical Sensors Market Share, By Country, By Value, 2018-2028

Figure 29: Middle East & Africa Optical Sensors Market Size, By Value (USD Million), 2018-2028

Figure 30: Middle East & Africa Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Figure 31: Middle East & Africa Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Figure 32: Middle East & Africa Optical Sensors Market Share, By End-user, By Value, 2018-2028

Figure 33: Middle East & Africa Optical Sensors Market Share, By Country, By Value, 2018-2028

Figure 34: Global Optical Sensors Market Company Market Share Analysis, 2021

List of Tables

Table 1: Global Optical Sensors Market Size, By Value (USD Million), 2018-2028

Table 2: Global Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Table 3: Global Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Table 4: Global Optical Sensors Market Share, By End-user, By Value, 2018-2028

Table 5Global Optical Sensors Market Share, By Region, By Value, 2018-2028

Table 6: North America Optical Sensors Market Size, By Value (USD Million), 2018-2028

Table 7: North America Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Table 8: North America Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Table 9: North America Optical Sensors Market Share, By End-user, By Value, 2018-2028

Table 10: North America Optical Sensors Market Share, By Country, By Value, 2018-2028

Table 11: Europe Optical Sensors Market Size, By Value (USD Million), 2018-2028

Table 12: Europe Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Table 13: Europe Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Table 14: Europe Optical Sensors Market Share, By End-user, By Value, 2018-2028

Table 15: Europe Optical Sensors Market Share, By Country, By Value, 2018-2028

Table 16: Asia-Pacific Optical Sensors Market Size, By Value (USD Million), 2018-2028

Table 17: Asia-Pacific Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Table 18: Asia-Pacific Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Table 19: Asia-Pacific Optical Sensors Market Share, By End-user, By Value, 2018-2028

Table 20: Asia-Pacific Optical Sensors Market Share, By Country, By Value, 2018-2028

Table 21: Latin America Optical Sensors Market Size, By Value (USD Million), 2018-2028

Table 22: Latin America Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Table 23: Latin America Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Table 24: Latin America Optical Sensors Market Share, By End-user, By Value, 2018-2028

Table 25: Latin America Optical Sensors Market Share, By Country, By Value, 2018-2028

Table 26: Middle East & Africa Optical Sensors Market Size, By Value (USD Million), 2018-2028

Table 27: Middle East & Africa Optical Sensors Market Share, By Product Type, By Value, 2018-2028

Table 28: Middle East & Africa Optical Sensors Market Share, By Product Type, By Fiber Optic Sensor, By Value, 2018-2028

Table 29: Middle East & Africa Optical Sensors Market Share, By End-user, By Value, 2018-2028

Table 30: Middle East & Africa Optical Sensors Market Share, By Country, By Value, 2018-2028

Table 31: Canon Inc. Financial Analysis

Table 32: Sony Corporation Financial Analysis

Table 33: Baumer Electric AG Financial Analysis

Table 34: ABB Ltd. Financial Analysis

Table 35: Rockwell Automation Inc. Financial Analysis

Table 36:  Analog Devices Inc. Financial Analysis

Table 37: Honeywell International Inc. Financial Analysis

Table 38: NXP Semiconductors N.V. Financial Analysis

Table 39: Qualcomm Technologies Inc. Financial Analysis

Table 40: STMicroelectronics N.V. Financial Analysis

Table 41: Robert Bosch GmbH Financial Analysis

Table 42: Hewlett Packard Enterprise Development LP Financial Analysis

Table 43: Johnson Controls international PLC Financial Analysis

Table 44: Texas Instruments Inc. Financial Analysis