Published Date: 2021-06-14
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APAC Optical Sensors Market size is predicted to cross USD 16.5 billion by 2026, according to a latest forecast report by Graphical Research.
The Asia Pacific optical sensors industry growth is due to the increasing adoption of robotics, industrial automation, and smart factories in the regional manufacturing sector. The regional governments are emphasizing on providing incentives and funding to domestic players in order to boost smart manufacturing in Asia Pacific. In July 2020, the South Korean government invested USD 414 million in the establishment of new smart factories in the country. The smart factories are highly incorporating collaborative robots, conveyor monitoring systems and automated production lines that require optical sensors for process control operations. The proliferation of AI and IoT technologies in smart factories will further amplify the adoption of optical sensors over the forecast period.
The fiber optic sensor segment is projected to grow at a CAGR of 9% from 2020 to 2026. The growth is attributed to several high-end features offered by fiber optic technology such as high sensitivity, resistance to electromagnetic field (EMF), low power consumption, and low transmission losses compared to traditional optical sensors. These sensors are immune to microwaves and offer excellent performance in extreme pressure and temperatures. These high-end features further increase their adoption in petrochemical, mining, and oil & gas sectors. In March 2020, Sumitomo Electric Corporation launched a distributed temperature sensing system with integrated fiber-optic sensor. The new device does not require a power supply; hence it is ideal for remote monitoring applications in oil & gas, manufacturing, and chemical industries in the market.
Browse detailed statistical insights from the report, “Asia Pacific Optical Sensor Market Forecast 2026 By Product (Photoelectric Sensors {Through Beam, Retro-Reflective, Diffuse}, Ambient & Proximity Light Sensors, Image Sensors {Complementary Metal-Oxide-Semiconductor (CMOS), Charged Coupled Device (CCD)}, Fibre Optic Sensors {Extrinsic, Intrinsic}), By Application (Consumer Electronics, Industrial, Automotive & Transportation, Food & Beverage, Medical), Research Report, Regional Outlook (China, India, Japan, South Korea, Taiwan), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1857/asia-pacific-optical-sensor-market
Taiwan is poised to grow at a CAGR of over 7% in the Asia Pacific optical sensors market. The growth is attributed to favorable government initiatives supporting electronics and semiconductor manufacturing industries in the country. For instance, in June 2020, the Government of Taiwan announced a USD 334-million subsidy scheme through which the government will attract foreign semiconductor manufacturers to establish chip-fabrication facilities in the country. Through this scheme, the government will also provide upto 50% of the research & development costs for foreign semiconductor manufacturers if they establish manufacturing plants in the region. Such supportive government initiatives will bring new growth opportunities for optical sensor manufacturers in the Asia Pacific region.
The APAC optical sensors market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Application
The above information has been provided for the following countries:
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