Global Optical Position Sensor Market Set to Surge with Emerging IoT Applications

Optical Position Sensor Market Growth

Optical Position Sensor Market Expected to Reach $2,589 Million, Globally, by 2022

WILMINGTON, DE, UNITED STATES, December 9, 2024 /EINPresswire.com/ — Allied Market Research, was valued at $1,376 million in 2015 and is expected to reach $2,589 million by 2022, growing at a CAGR of 9.3% from 2016 to 2022. The multiaxial segment held over 40% of the total market share in 2015.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/1923

Optical position sensors are widely used in consumer electronics such as televisions, smartphones, medical devices, wearable devices, and others. Growth in demand for consumer electronic goods and an increase in the adoption of sensors in remote monitoring medical devices drive the market growth. Moreover, an increase in demand for automated vehicles is expected to provide lucrative opportunities to market players.

Consumer electronics dominated the global optical position sensor market in 2015, accounting for about 50% of the global optical sensor market size. However, healthcare is expected to grow at the highest CAGR of 10.3% from 2016 – 2022, owing to an increase in demand for durable devices with enhanced efficiency.

Multiaxial led the optical position sensor market in 2015 and is expected to maintain this trend throughout the forecast period. The one-dimensional sensor segment is expected to witness significant growth, owing to its compact size and low power consumption.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1923

Asia-Pacific was the major revenue contributor in 2015 and is expected to maintain its dominance in the future, owing to an increase in the number of electronic applications. The ongoing technological developments in consumer electronics and healthcare sectors are expected to boost the optical position sensor market growth, especially in Asian countries, such as China, Japan, South Korea, and India.

Asia-Pacific is projected to grow at the highest CAGR during the forecast period, owing to an increase in portable appliances and a rise in the adoption of sensors in automotive applications. Moreover, technological advancements to overcome dispersion issues in extreme conditions are projected to offer lucrative opportunities for market players.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

– In 2015, multiaxial sensors dominated the global optical position sensor market, in terms of revenue, and are projected to grow at a CAGR of 9.2% from 2016 – 2022.
– Consumer electronics led the market, accounting for about 50% revenue share in 2015.
– China was the major shareholder in the Asia-Pacific optical position sensor market, constituting about 27% of the optical position sensor revenue in 2014.

Key players operating in the optical position sensor market have adopted product launch as their preferred strategy to expand their market foothold. The major players profiled in this report include First Sensors AG, Siemens AG, Panasonic Corporation, Opto Diode Corporation, Sharp Corporation, Micro-Epsilon, Balluff GmbH, Sensata Technologies, Hamamastu Photonics K.K., and Melexis N.V.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1923

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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