USD 1.8 billion
Optical Position Sensor Market Size, Share, Growth Analysis, By Output(Digital Output and Analog Output), By Application(Mahine Tools, Robotics, Motion System, Material Handling), By End User(Manufacturing, Automotive Aerospace, Packaging, Healthcare), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45O2045 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
94
|Figures:
71
Optical Position Sensor Market Insights
Global Optical Position Sensor Market size was valued at USD 1.8 billion in 2022 and is poised to grow from USD 1.9 billion in 2023 to USD 4.17 billion by 2031, growing at a CAGR of 11.08% in the forecast period (2024-2031).
The position of the targeted object is determined via an optical position sensor. These sensors are commonly utilized in semiconductor modules and chips, which are found in many different products, including consumer electronics, cars, airplanes, and medical equipment. Growing need for robotics and automation technologies, together with affordable and flexible sensor solutions, are the main factors propelling the market expansion. The market for optical position sensors is expanding due to rising consumer electronics, increased need for vehicle safety, and sensor cost-efficiency. Considering optical position sensors are used widely in sectors like consumer electronics, automotive, and aerospace, the market is expected to increase significantly in the coming years.
The market is expected to develop as wearable medical devices become more popular and as high-performance sensors become more necessary. However, the market's expansion is hampered by the sensor's low accuracy and lack of customization. Notwithstanding these difficulties, the market is growing thanks to the increasing demand for and manufacturing of consumer electronics like cell phones. Optical position sensors help with parking by detecting changes in a vehicle's position. Furthermore, these sensors guarantee driver safety by triggering the airbag based on the driver's position. Therefore, it is anticipated that the market for optical position sensors would develop as more people utilize cars.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Robotics
Fastest Growth
Machine tools
Growth Rate
11.08% CAGR
Global Optical Position Sensor Market ($ Bn)
Country Share for Asia Pacific (%)
To get more reports on the above market click here to Buy The Report
Optical Position Sensor Market Segmental Analysis
The global optical fiber market is segmented based on output type, application type, end user type and regional type. In terms of output type, the market is segmented into digital output and analog output. Based on application type, the market is bifurcated into machine tools, robotics, motion system, material handling, testing equipment and others. Based on end user type, the market is bifurcated into manufacturing, automotive, aerospace, packaging, healthcare, electronics and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. The application category has the largest market share as it is a well-known industry that uses optical position sensors, and as automation and robotics technologies become more extensively employed, there is a growing demand for these sensors.
Analysis by Application
As per categorization by application type, the market is classified into machine tools, robotics, motion system, material handling, testing equipment and others. Among these, robotics earned the largest share and continues to dominate the market. Due to the growing demand for automation, efficiency, and precision in various industries, including manufacturing, healthcare, agriculture, and logistics, robotics has been expanding rapidly. The increasing sophistication and versatility of robotics technology has led to a growing need for high-performance sensors such as optical position sensors.
Many important variables will likely drive a large increase in the future need for optical position sensors in machine tools, testing equipment, motion systems, and material handling. The demand for precise positioning and motion control to increase productivity and efficiency in motion systems, such as robotics, CNC machinery, and industrial automation, will continue to drive the usage of optical position sensors. Similarly, optical sensors will be essential for accurate object detection, tracking, and placement in material handling applications including conveyor systems, automated guided vehicles (AGVs), and warehouse automation. This will improve logistical operations.
Analysis by End User
The integration of optical position sensors into advanced driver assistance systems (ADAS), autonomous vehicles (AVs), and electric cars (EVs) is being fueled by current advances in the automotive sector. To improve vehicle performance and safety, optical sensors are used for accurate position and speed detection, lane departure warning, and collision avoidance systems. Moreover, optical position sensors are being innovated in the healthcare industry for use in surgical robots, patient monitoring systems, and imaging modalities. These devices and diagnostic tools use optical position sensors for accurate tracking and positioning. The breakthroughs demonstrate the increasing demand and variety of optical position sensors in various industries. They also emphasize the role that these sensors play in facilitating technological advancements and enhancing safety, efficiency, and accuracy in various applications, such as healthcare and automotive.
Future demand for optical position sensors is expected to soar in the electronics and aerospace sectors as both depend more and more on motion control and accurate positioning for improved performance and safety. Optical sensors are essential to aerospace flight control systems, navigation, and guidance systems as they guarantee precise aircraft placement and maneuverability. Moreover, optical position sensors are essential to robotic assembly, PCB (Printed Circuit Board) creation, and semiconductor production in the electronics manufacturing industry. They allow for perfect alignment and motion control in highly automated operations. The aerospace and electronics industries are expected to increase at a rapid rate due to technical advancements and a growing demand for automation. These factors highlight the substantial prospects that the global optical position sensor market presents for market expansion in these sectors.
Global Optical Position Sensor Market ByApplication (%)
To get detailed analysis on other segments, Request For Free Sample Report
Optical Position Sensor Market Regional Insights
Asia Pacific takes the lead in the global market for optical position sensors due to the existence of important manufacturing centers, especially in China and Japan. The need for optical position sensors for motion control and positioning applications is fueled by the region's fast industrialization and the growing adoption of automation in a variety of industries, including consumer products, electronics, and automobiles. North America and Europe continue to have a substantial lead in the worldwide optical position sensor market because of their sophisticated technological infrastructure and abundance of prominent industry players. These areas have a high demand for optical position sensors from a variety of sectors, including manufacturing, automotive, aerospace, and healthcare, with an emphasis on improving both operational safety and efficiency.
The global market for optical position sensors is expanding in regions such as Latin America and the Middle East due to factors like growing industrialization, developing infrastructure, and rising investments in automation technology. As businesses look to adopt optical position sensors for precise motion control and positioning applications to improve production processes and operational efficiency, these regions present promising opportunities for market expansion, especially in the automotive, oil and gas, and manufacturing sectors.
Global Optical Position Sensor Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Optical Position Sensor Market Dynamics
Drivers
R&D Innovations
- The augmentation of funds earmarked for the advancement and development of sophisticated and automated technology and machinery can be attributed to the growing number of key market alliances. Furthermore, increases in the amount of money allocated to R&D capabilities will pave the path for technological advancements in manufacturing.
Enhanced Demand and Supply Chain in Emerging nations
- Growing consumer electronics penetration and proliferation is one of the main reasons driving the market's growth. Put otherwise, the market's growth rate is directly impacted by the growing demand for and availability of smartphones, tablets, laptops, television kiosks, and huge interactive screens. Additionally, the aerospace industry's increasing acceptance and application will pave the way for the market's expansion.
Restraints
Wide Scope of Regulations Limitations
- Increased implementation of the strict environmental restrictions imposed on the industries will impede market expansion. Tight rules governing product approvals will further reduce the market's potential for expansion. Furthermore, there will be additional difficulties if company operations are suspended due to the coronavirus pandemic.
Supply Chain Disruption
- The epidemic has led to an increase in restrictions worldwide, which has negatively impacted both the supply and demand for display materials. Additionally, changes in the cost of raw materials will work against the market. As a result, the market growth rate will be put to the test.
Request Free Customization of this report to help us to meet your business objectives.
Optical Position Sensor Market Competitive Landscape
Considering position sensors have a higher security quotient than other sensors, they are being used for more and more applications. An increasing number of end users, both small and medium sized, are realizing the value of position sensors. Some of the major companies in this market are Goodix (China), Infineon Technologies AG (Germany), SICK AG (Germany), ams AG (Austria), TE Connectivity (Switzerland), MTS Systems (US), Vishay Technologies Inc. (US), STMicroelectronics (Switzerland), and SAMSUNG (South Korea).
Top Player’s Company Profiles
- STMicroelectronics (Switzerland)
- TE Connectivity (Switzerland)
- Egis Technology (Taiwan)
- Lomotive (US)
- Novatek Microelectronics (Taiwan)
- Honeywell International Inc. (US)
- Crucialtec (South Korea)
- Sony Corporation (Japan)
- Infineon Technologies AG (Germany)
- ams AG (Austria)
- OminiVision (US)
- Q Technology (China)
- MTS Systems (US)
- Elliptic Labs (Norway)
- SICK AG (Germany)
Recent Developments
- In February 2022, The AI Virtual Proximity Sensor INNER BEAUTY from Elliptic Labs, a leading provider of virtual smart sensors and a global AI software firm, will be available on Xiaomi's Redmi K50 Gaming smartphone. Robust proximity detection is provided by Elliptic Labs' AI Virtual Proximity Sensor, which eliminates the need for an additional hardware sensor. The AI Virtual Proximity Sensor replaces hardware with software sensors, lowering device cost and removing sourcing risk.
- In October 2022, Lumotive and Gpixel collaborated to introduce a reference design platform that includes CMOS image sensors and 3D lidar, allowing businesses to utilise next-generation 3D lidar sensors for industrial and mobility applications such as autonomous robot navigation in logistics settings. A good option for medium- to long-range 3D applications is to combine Lumotive's LM10 beam steering chip with Gpixel's GTOF0503 indirect time-of-flight image sensor. It emphasises the accuracy and adaptability that Gpixel's sensor has to offer.
- In July 2022, The IMX675, a 1/3-type CMOS image sensor for security cameras with a resolution of about 5.12 megapixels*2, is set to be released soon, according to Sony Corporation. It can produce regions of interest quickly and fully output the collected image in its entirety.
Optical Position Sensor Key Market Trends
- Advancement in Optical Sensor: Optical sensors convert various wavelengths into electrical impulses for enhanced sensing applications. Ambient, infrared (IR), and ultraviolet (UV) light are among the wave kinds that optical sensors assess. These wave types are utilized to develop applications like safe facial recognition, in-display fingerprint scanners, and self-driving automobiles, among many others.
- Fluorescence-Based Optical Sensor: Optical positioning sensors are making it possible to monitor the location, concentration variations, and activity of crucial cellular components like lipids, ions, and enzymes, optical sensors are an invaluable tool for live cell research. Today, fluorescence provides great spatial and temporal precision and is the basis for most optical sensor probes. The timeline of the event of interest matches the reaction time of the sensor when this advanced microscopy is applied.
Optical Position Sensor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the manufacturing industry is expanding due to a combination of smart market partnerships, rising investments in modern technologies, and machinery. Furthermore, the aircraft industry's increasing use of consumer electronics combined with the rise in their adoption, especially in emerging markets, is driving the market's growth trajectory. Market expansion is hindered by stringent environmental restrictions and product approval procedures, which are made worse by operational disruptions brought on by the COVID-19 epidemic. The potential for market expansion is further strained by supply chain disruptions brought on by international constraints and fluctuating raw material costs, especially in the display materials industry.
Position sensors are becoming more and more popular in a variety of applications due to their improved security features, and small and medium-sized end customers are beginning to see their benefits. Prominent entities within the industry that contribute to its vibrancy and inventiveness are Goodix, Infineon Technologies AG, SICK AG, ams AG, TE Connectivity, MTS Systems, Vishay Technologies Inc., STMicroelectronics, and SAMSUNG. By translating different wavelengths of light, such as ambient, infrared (IR), and ultraviolet (UV) light, into electrical impulses, optical sensors play a crucial role in sensing applications. This allows for the development of applications like self-driving automobiles and facial recognition. Optical sensors will enable accurate spatial and temporal tracking of cellular components in live cell research, providing priceless information on the dynamics of biological processes and many other fields.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.8 billion |
| Market size value in 2031 | USD 4.17 billion |
| Growth Rate | 11.08% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Optical Position Sensor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Optical Position Sensor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Optical Position Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Optical Position Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Optical Position Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Optical Position Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
