Optical Sensor Market 2022 will advance at a CAGR of ~11% By 2027

  • According to Transparency Market Research’s latest research report on the optical sensor market for the historical period of 2017 – 2018 and the forecast period of 2019 – 2027, increasing application of optical sensors in smartphones and tablets is expected to boost the global optical sensor market during the forecast period.
  • In terms of revenue, the global optical sensor market is estimated to reach a value of ~US$ 3.2 Bn by 2027, expanding at a CAGR of ~11% throughout the forecast period. 

Development of On-screen Fingerprint Sensors: A Key Driver

  • Optical fingerprint sensor is the oldest method of comparing and capturing fingerprints. As the name suggests, this technique relies on capturing an optical image, essentially a photograph, and using algorithms to detect unique patterns on the surface, such as ridges or unique marks, by analyzing the lightest and darkest areas of an image.
  • Similar to smartphone cameras, optical sensors can have a finite resolution. The higher the resolution, the finer details the sensor can discern about fingerprints. This enhances the level of security. However, these sensors can capture images with much higher contrast than a regular camera.
  • With the increasing demand for security, smartphones have adopted scanners with high capacities. Declining costs of technology have made optical sensors using capacitive touchscreens viable for use in mid-range products too. Since companies are adopting on-screen fingerprint authentication, the demand for optical sensors is expected to increase in the near future. 
optical sensor market infographic

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Manufacturers Focus on Innovative Techniques to Enter the Growing Optical Sensor Market

  • Optical sensor technology is attracting a great deal of attention due to its numerous applications in the automotive field. Manufacturers operating in the global optical sensor market are increasingly investing in research & development activities to find new and innovative techniques to develop optical sensors.
  • The optical sensor market is highly fragmented with the presence of several manufacturers, especially in Europe. Moreover, with the increasing number of manufacturers, product differentiation has become vital aspect to gain a competitive edge in the marketplace.

Development of Fiber Optical Sensors: Latest Trend Among Key Market Players

  • Fiber optical sensors are also known as optical fiber sensors. These sensors are classified into two types: intrinsic sensors and extrinsic sensors. These sensors are employed to sense parameters such as pressure, vibrations, temperature, displacements, rotations, and concentration of chemical species. Specifically, the extrinsic type of fiber optical sensors is used for the measurement of vibrations.
  • Fiber optical sensing is a new technology, which is based on white light polarization interferometry (WLPI). This technology offers more benefits over the fiber optics technology.
  • Fiber optical sensors offer various advantages such as easy deployment and adoption, increased stability, enhanced safety for data transmission, high reliability, low maintenance, light weight, small size, and resistance to high voltages.
  • Owing to these advantages, the demand for fiber optical sensors is expected to increase significantly in the near future.

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Global Optical Sensor Market: Competition Landscape

  • Detailed profiles of the manufacturers of optical sensors have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
  • Companies are focusing on the use of advanced and efficient technologies with superior performance, which would help in the miniaturization of sensors.
  • Key players operating in the global optical sensor market are –
    • ROHM Co. Ltd
    • Rockwell Automation Inc.
    • SICK AG
    • Vishay Intertechnology Inc.
    • Honeywell International Inc.
    • On Semiconductor Corporation
    • IFM Efector Inc.
    • Keyence Corporation
    • Pepperl+Fuchs GmbH
    • STMicroelectronics NV
    • Panasonic Corporation

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