Global Optical Position Sensor Market growing at a CAGR of 10.50% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Aug 2024 | Type : Press Release
Optical Position Sensor Market Scope & Overview:
Optical position sensors detect object movement and convert it into signals for transmission, control, or processing. They use light characteristics to determine position. They offer benefits such as high sensitivity, lightweight design, immunity to electromagnetic interference, and reliable operation. These sensors are used in the automotive, consumer electronics, aerospace, defense, and healthcare industries.
Consegic Business Intelligence analyzes that the Global Optical Position Sensor Market size was valued at USD 2,791.09 Million in 2022, and is expected to register a CAGR of 10.50% to reach USD 6,101.94 Million by 2030.
This report comprises Optical Position Sensor Market Share, Size & Industry Analysis, By Type (One Dimensional Optical Position Sensors, Two Dimensional Optical Position Sensors, and Multi-Axial Optical Position Sensors), By End User ( Automotive, Consumer Electronics, Aerospace & Defense, Healthcare, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2030.
This report contains detailed information on Optical Position Sensor Market Opportunities, Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the market for Optical Position Sensor Market is growing due to the growing automotive and aerospace & defense sectors. Even the adoption of electric vehicles promotes the market as these sensors are used for LIDAR, ADAS applications, and others.
Segmental Analysis :
The Optical Position Sensor Market is segmented based on type, end-user, and region.
Based on the type, the market is trifurcated into One Dimensional Optical Position Sensors, Two Dimensional Optical Position Sensors, and Multi-Axial Optical Position Sensors.
- The two-dimensional optical position sensor accounted for the largest market share in 2022. This is due to several benefits like high position resolution, lower dark current, high-speed response, easy bias application, and low fabrication cost among others.
- The one-dimensional optical position sensors segment is expected to witness the fastest CAGR over the forecasted period. They provide benefits such as high reliability and high inter-electrode resistance, which is utilized in industries like electronics, automotive, and others.
Based on the end-user, the market is segmented into Automotive, Consumer Electronics, Aerospace & Defense, Healthcare, and Others.
- The aerospace and defense segment accounted for the largest market share in 2022 due to the usage of optical sensors in aircraft and defense systems.
- Over the forecasted period, the automotive segment is expected to witness the fastest CAGR due to expanding automobile and manufacturing facilities.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- North America had the largest revenue share of USD 1,189.00 Million in 2022 and is expected to reach USD 2,605.53 Million by 2030, with a CAGR of 10.5%. In the region, the U.S. accounted for 59.4% of the revenue in 2022. This is primarily due to the usage of these sensors in several industries.
- The Asia-Pacific region is expected to register the fastest CAGR of 10.7% over the forecasted period. This is because of several industries like consumer electronics, automotive, and others expanding in the region.
| Report Attributes | Report Details |
| By Type | One Dimensional Optical Position Sensors, Two Dimensional Optical Position Sensors, and Multi-Axial Optical Position Sensors |
| By End-User | Automotive, Consumer Electronics, Aerospace & Defense, Healthcare, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Optical Position Sensor Industry:
- Hamamatsu Photonics K.K.
- Micro-Epsilon
- Siemens
- Melexis
- Optoi Srl
- Sensata Technologies Inc.
- Sharp Corporation
- TE Connectivity
- Panasonic Corporation
- Opto Diode Corporation
Recent Industry Developments :
- In May 2022, Micro-Epsilon launched its new optoelectronic CLS1000 optical sensor series, designed for reliable position control as well as position and presence detection.
