Global Optical Sensing Market, By Type (Wireless, wired) By End-user (Aerospace and Defense, Utilities, Oil and Gas, Medical, Construction, Consumer Electronics, Others) By Application (Pressure and Strain Sensing, Temperature Sensing, Geological Survey, Biochemical, Biometric and Ambience, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) - Industry Trends and Forecast to 2024
Market Analysis: Global Optical Sensing Market
The Global Optical Sensing Market accounted to USD 1.3 billion in 2016 growing at a CAGR of 16.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Optical Sensing Market
An optical sensor is generally part of a larger system that integrates a source of light, a measuring device and the optical sensor. This is often connected to an electrical trigger. The trigger reacts to a change in the signal within the light sensor. The latest trend in this market is demand of optical sensors in different application, advancement in technology leading to small size of sensors that integrates with the smartphones, as smart phones are increasing the optical sensor market will also grow. There is need of optical sensor for several industries like Aerospace and Defense, Utilities, Oil and Gas, Medical, Construction, Consumer Electronics, Others will create a huge market for the optical sensing.
Major Market Drivers and Restraints:
- Increasing demand in different type of applications
- Advancements in mobile technologies
- Lack of standardization
- Lack of awareness of optical sensors
- Industrial IOT Applications
Market Segmentation: Global Optical Sensing Market
On the basis of type the optical sensing market is segmented into Wireless, wired. The wireless market is expected to grow in the forecasted period.
On the basis of application the optical sensing market is segmented into Pressure and Strain Sensing, Temperature Sensing, Geological Survey, Biochemical, Biometric and Ambience, Others. The Biochemical market is expected to grow in the forecasted period.
On the basis of end-user the optical sensing market is segmented into Aerospace and Defense, Utilities, Oil and Gas, Medical, Construction, Consumer Electronics, Others. The Oil & gas market is expected to grow in the forecasted period.
On the basis of geography, optical sensing market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Optical Sensing Market
Optical Sensing Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Optical Sensing Market
Some of the major players operating in optical sensing market are:
ROHM Semiconductor, ABB, Hamamatsu Photonics K.K., AMS AG, Fairchild Semiconductor, Analog Devices, Inc., Texas Instruments Inc., Stmicroelectronics N.V., Vishay Intertechnology, Inc., Alphasense, Teledyne Dalsa Inc., Oxsensis Ltd., RJC Enterprises, LLC, Rockwell Automation, Robert Bosch, Omron among others. In 2017, ROHM Semiconductor launches the new high performance optical sensors for the wearable devices for monitoring heat rate.
Research Methodology: Global Optical Sensing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst call or drop down your inquiry.
Demand Side Primary Contributors: Doctors, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.