Light sensing technology is undergoing advancements at a rapid pace and it is being largely used in different applications worldwide. Light sensors detect light and convert light energy to an electric signal output. The global light sensor market is estimated to expand at a sluggish pace during the forecast period. Growth of the market is primarily attributable to increasing demand from consumer electronics, transportation, smart homes, and automotive applications. Different types of electronic products are available in the marketplace and they are accessible for consumers. Light sensors have become a crucial element of these products due to a variety of design needs. In addition to this, light sensors are gaining significance, owing to their growing adoption in smart electronics. This is primarily because light sensors help adjust the intensity of LCD screens as per the amount of ambient light. They can conserve energy and deliver an appropriate amount of screen brightness to users. The global light sensor market is estimated to reach value of US$ 2,435.9 Mn by 2027 from US$ 1,210.6 Mn in 2018, registering a CAGR of 8.2% during the forecast period.
Light sensors are witnessing increase in the demand due to the rising demand for consumer electronics as well as smart electronics and wearable applications. Increasing demand for the smart home technology is expected to drive the global light sensor market during the forecast period. Additionally, manufacturers of smart home appliances can use different types of light sensors to reduce the power consumption of smart home devices. Demand for smart home appliances is likely to increase in the near future, as consumers are realizing the importance as well as benefits of installing energy-efficient products in homes. In order to raise the safety level of passengers and minimize the number of road accidents, different automotive manufacturers are incorporating light sensors in their vehicles for driver safety and driver assistance. This is expected to propel the global light sensor market in the next few years. Furthermore, these sensors have become one of the most important items of focus for electronics scientists and researchers. Light sensors are increasingly being adopted in the LCD backlight control application. Rising adoption of LCD-based devices would boost the demand for light sensors during the forecast period. These factors would offer immense opportunities to the global light sensor market in the next few years. Moreover, light sensors are being adopted largely by end–user industries such as healthcare, energy & power, and agriculture. Growing population along with rising commercialization is driving the adoption of smart electronic devices, which is anticipated to boost the global light sensor market in the next few years. Essential properties of light sensors make them a highly suitable choice for OEM manufacturers. On the flip side, low capabilities of light sensors and price-based competition are major factors expected to hinder the light sensor market during the forecast period.
The global light sensor market is fragmented in nature, with a large number of companies operating at the global level. Leading players are currently focusing on providing technologically advanced products to their customers. Increasing demand for light sensor-based applications and decreasing costs in the long run are expected to prompt investors to invest in this new technology in the near future. Maintaining quality standards is essential for light sensor manufacturers to comply with stringent government regulations that are set for different end-use industries in different countries across the world. Moreover, as a part of this strategy, companies are engaging in various acquisitions, and focusing on expanding their business and entering into strategic partnerships through new service additions and expansion of geographical presence.
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Some of the major players operating in the global light sensor market and profiled in the study are Vishay Intertechnology Inc., STMicroelectronics, Texas Instruments, AMS AG, On Semiconductor, Broadcom, Maxim Integrated, Everlight Electronics Co., Ltd., Osram Opto Semiconductors GmbH, Sharp Corporation, and ROHM Semiconductor.
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