Published Date: 2021-06-14
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European Optical Sensors Market size is projected to reach USD 5 billion by 2026, according to a latest forecast report by Graphical Research.
The Europe optical sensors industry is witnessing a significant advancement during the forecast timeline with the growing adoption of optical sensors in aerospace and defense applications for monitoring environment and aircraft structure. These sensors offer high resolution, sensitivity, and are resistant to electromagnetic radiation, increasing their demand in designing and ground testing of aircraft. Continuous government efforts toward the development of reliable military weapons will boost the market opportunities for regional optical sensor manufacturers. Market players are employing various strategies such as collaboration and new product launches, among others to cater to high demand in the industry. For instance, in July 2019, Luna Innovations Inc. and Meggitt PLC signed an agreement to supply enhanced fiber optic sensors technology for overheating and fire detection in aircraft.
The ambient light & proximity sensor segment held a market share of 7.5% in 2019 and will grow at a CAGR of 6% in 2026. The growth is credited to the increasing adoption of ambient light and proximity sensors in consumer electronics devices such as smartphones, laptops, and display screens. These sensors efficiently measure the surrounding light and accordingly adjust the brightness in the screen. The market players are continuously inclined toward the development of new products for smartphone OEMs to gain a competitive edge among other players. In October 2020, ams announced the launch of its new ambient light sensor “TMD2712” with high miniaturization property of 1mm x 2mm footprint, specially designed for smartphone displays.
Browse detailed statistical insights from the report, “Europe Optical Sensor Market Forecast 2026 By Application (Consumer Electronics, Industrial, Automotive & Transportation, Food & Beverage, Medical), By Product (Photoelectric Sensors {Through Beam, Retro-Reflective, Diffuse}, Ambient & Proximity Light Sensors, Image Sensors {Complementary Metal-Oxide-Semiconductor (CMOS), Charged Coupled Device (CCD)}, Fiber Optic Sensors {Extrinsic, Intrinsic}), Research Report, Regional Outlook (UK, Germany, France, Italy, Spain, Russia, Switzerland), 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/1854/europe-optical-sensor-market
The UK optical sensors market is expected at grow a CAGR of 8% during the forecast period attributed to increasing government initiatives to accelerate the manufacturing sector in the region. The regional government is initiating various funding and regulations to enhance manufacturing operations in the country and showcase less reliance on other East Asian countries. For example, in July 2020, the Government of UK announced the funding of around USD 24 million to enhance the regional medium and small enterprises and recover from the effect of COVID-19 pandemic. This new initiative will provide a funding of USD 1.2 to 6 million to integrate new technologies and equipment into business operations. These government initiatives will further boost the trend toward automation in the manufacturing sector, further propelling the market opportunities for optical sensors.
The market for optical sensor in European 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:
Europe Market, By Product
Europe Market, By Applications
The above information has been provided for the following countries
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