Acumen Research and Consulting recently published report titled “Optical Detector Market Size, Share, Analysis Report and Region Forecast, 2022 - 2030”
BERLIN, July 26, 2022 (GLOBE NEWSWIRE) -- The Global Optical Detector Market size accounted for USD 3,774 Million in 2021 and is projected to reach the value of USD 9,510 Million by 2030, with a significant CAGR of 11.3% from 2022 to 2030.
The increasing number of smartphone and wearable device users is the primary factor driving the global optical detector market revenue from 2022 to 2030. According to Data Reportal, the number of smartphone users reached more than 5.2 billion in 2020, accounting for 66 percent of the world's population. 2020 saw an increase of 93 million users, a 1.8 percent increase over the previous year's total. In addition, a recent estimate says that there are more than 860 million wearable device users present across the world and this number is expected to hit 1 billion very soon. The advent of industry 4.0 is one of the significant optical detector market trends that is fueling the industry demand and is likely to do so in the coming years.
Request For Free Sample Report @
https://www.acumenresearchandconsulting.com/request-sample/3045
| Market | Optical Detector Market | |
| Market Size 2021 | USD 3,774 Million | |
| Market Forecast 2030 | USD 9,510 Million | |
| CAGR During 2022 - 2030 | 11.3% | |
| Analysis Period | 2018 - 2030 | |
| Base Year | 2021 | |
| Forecast Data | 2022 - 2030 | |
| Segments Covered | By Type, By Sensor Type, By End-User, And By Geography |
|
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | ams-OSRAM AG, Excelitas Technologies Corp., Rohm Semiconductor, Hamamatsu Photonics K.K., Analog Devices Inc., STMicroelectronics, Vishay Intertechnology, Inc., Fotech, Leuze electronic GmbH + Co. KG, and Extrinsics Limited. | |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
| Customization Scope | 10 hrs of free customization and expert consultation | |
COVID-19 Impact on the Global Optical Detector Market
The COVID-19 pandemic significantly harmed optical detector market companies' growth prospects in the first half of 2020. In 2020, numerous manufacturing plants went out of business, counting those in the automotive, logistics, and packaging industries. As per the Semiconductor Industry Association, global semiconductor sales fell by 3.6% in the first quarter of 2020 as a result of main distractions in global supply-chain activities rooted by the COVID-19 outbreak. Automobiles and transportation are two other important end-use sectors for industrial sensors. As a result of the COVID-19 epidemic, many countries, such as the United States, Japan, China, and South Korea, have delayed automotive production. This is required to reduce optical sensor demand and have a negative impact on financial forecasts for optical detectors.
Global Optical Detector Market Growth Aspects
According to our optical detector industry analysis, the growing demand for optical detectors in widespread industries is driving the market growth. Currently, the demand for sensors that offer precise output is continuously increasing in different industries. As manufacturers sought to improve production efficiency without compromising product quality, the popularity of these photoelectric sensors is growing. Massive losses can result from a defect in the manufacturing process. Producers are combining photoelectric sensors into their manufacturing assembly lines as a result. Photoelectric sensors, for example, are used in the food and beverage industries to detect the size of products, detect flaws in them, count small objects, and check misaligned caps on bottles.
Photoelectric sensors are utilized in the transportation industry to determine the distance and position of objects. These sensors are used by automatic pickers and trucks in the logistics and materials handling industries to ensure efficient and safe operations. BMW Group, Volkswagen, Audi AG, Daimler, and other major OEMs in the region are emphasizing advanced driver-assistance systems (ADAS) and self-driving cars.
Optical sensing gadgets that can endure severe environments while also offering high accuracy are needed in a variety of industrial sectors, such as healthcare, aerospace and defense, and others. Optical sensors provide all of these benefits, resulting in an incredibly rapid optical detector market value over the anticipated period.
However, some of the constraints in the market include the high cost of optical detectors and the concerns about precise light detecting. On the other hand, the robust demand from Industry 4.0 and the surging applications of these devices in the aerospace and defense sectors are expected to create numerous growth opportunities for the market in the coming years.
Check the detailed table of contents of the report @
https://www.acumenresearchandconsulting.com/table-of-content/optical-detector-market
Optical Detector Market Segmentation
The global market has been segmented based on sensor type, type, end-use, and region. Based on the type, the market is bifurcated into intrinsic and extrinsic. Extrinsic detectors will have a sizable market share by 2021. An extrinsic detector sends modulated light from a standard sensor, including a resistance thermometer, over a multimode fiber-optic cable.
Based on sensor type, the market is categorized into the photoelectric sensor, image sensor, ambient light and proximity sensor, and fiber optic sensor. According to our optical detector market forecast, the fiber optic sensor will grow at a substantial growth rate from 2022 to 2030. However, the image sensor segment accounted for a noteworthy market share during the same period.
Furthermore, based on end-user, the market is segmented into automotive, industrial, consumer electronics, medical, and others. During the forecast period, consumer electronics held a considerable amount of market share, while industries like automotive and medical are anticipated to register a notable growth rate in the coming future.
Optical Detector Market Regional Outlook
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa are the regional classification of the global optical detector market. North America among all the regions generated a substantial market share in 2021 and is expected to continue its trend in the coming years. Asia-Pacific on the other hand registered a noteworthy growth during the projected years.
Buy this premium research report –
https://www.acumenresearchandconsulting.com/buy-now/0/3045
Optical Detector Market Players
Some key optical detector companies covered in the industry include Hamamatsu Photonics K.K., ams-OSRAM AG, Excelitas Technologies Corp., Rohm Semiconductor, Analog Devices Inc., STMicroelectronics, Fotech, Leuze electronic GmbH + Co. KG, Vishay Intertechnology, Inc., and Extrinsics Limited.
Browse More Research Topic on Semiconductor Industry:
The Worldwide IoT Microcontroller Market accounted for USD 4,389 Million in 2021 and is expected to hit USD 13,037 Million by 2030, with a significant CAGR of 13.1% from 2022 to 2030.
The Global Non Contact Infrared Thermometers Market accounted for USD 248 Million in 2020 and is expected to reach USD 479 Million by 2028 with a considerable CAGR of 7.9% during the projected period of 2021 to 2028.
The Lightning Protection Products Market accounted USD 2.7 Billion in 2020 with a significant CAGR of 9.6% during the analysis period of 2021 to 2028.
About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
For Latest Update Follow Us on Twitter and, LinkedIn
Contact Us:
Mr. Richard Johnson
Acumen Research and Consulting
USA: +13474743864
India: +918983225533
E-mail: sales@acumenresearchandconsulting.com
Via GlobeNewswire RSS Feed https://ift.tt/XKTVN8P