Published Date: 2021-01-19
Request a sample
According to the Graphical Research new growth forecast report titled “North America Optical Sensor Market Size 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}), By Application (Consumer Electronics, Industrial, Automotive & Transportation, Food & Beverage, Medical)”, Estimated To Be Around USD 7 Billion By 2026.
The North America optical sensor market is gaining traction owing to rising initiatives by the government for innovative lightening technology in the region. For instance, in October 2019, the government of Chicago proposed a plan to replace more than 270,000 city lights with LED lights and intelligent lighting systems by 2022, which will propel the demand for sensors such as ambient & proximity light sensor in the region. Furthermore, various companies are focusing on innovating next-generation sensors for fulfilling the demand of lighting control solutions. For instance, in June 2018, ams announced a new family of proximity and ambient light sensors. The new sensors offer high sensitivity, small package size, and low power for display and LED brightness control for consumer electronics devices.
The fiber optic sensor segment in the North America optical sensor market accounted for a market share of around 12% in 2019 and will grow at a CAGR of over 7.5% from 2020 to 2026. The growth is driven with the rising need of remote sensing applications in the aerospace & defense industry. The fiber optic sensors offer high resistance in harsh environments such as high temperature & pressure, intense EMI, chemical corrosion, and high voltage, fueling the market growth. Also, fiber optic sensors deliver high-speed land connectivity, propelling the commercial adoption of fiber optics in applications, such as unmanned systems, satellites, and space launch vehicles, which will augment the growth of the market in the region.
The medical application segment will be experiencing significant growth opportunities in the forecast period. The rising adoption of wearable healthcare devices is likely to bolster the North America optical sensor market growth. According to a report by Pew research center, in January 2020, 21% of adult population in the U.S. wore smart watches and fitness trackers. Wearable healthcare devices, such as pulse oximeters, fit bits, smartwatches, etc., are embedded with various optical sensors, such as image, light, and proximity among others, providing real-time monitoring solutions of patient’s health. These sensors offer several features such as high accuracy, compact size, and reduction in electromagnetic radiation, making them ideal for applications in medical-grade wearable devices and accelerating the market growth.
Canada accounted for over 20% market share in 2019 and will grow at a CAGR of 9.5% from 2020 to 2026 in the North America optical sensor market. The demand is driven by increase in consumer electronics manufacturing industries in the country. Several initiatives by the regional government bodies to accelerate the manufacturing sector will propel the market opportunities for optical sensors during the forecast timeline. In April 2020, IPC, an electronics manufacturing industry association, planned to collaborate with Canada, Mexico, and the U.S. government to accelerate electronic manufacturing in the region. Also, the government is planning to recover from the COVID-19 pandemic with the launch of several partnership programs. In October 2020, The Government of Ontario, BlackBerry Limited, and Canadian Manufacturers & Exporters (CME) announced a partnership program to accelerate their economic recovery from pandemic crisis.
Key players in the North America optical sensor market are extensively focusing on new product innovations to provide technically-advanced products and stay competitive in the market. For instance, in January 2019, amd announced the launch of its new RGB light and IR proximity sensor IC used to measure intensity of ambient light behind an OLED screen. It is used with industrial design to maximize smartphone display and eliminate front-facing bezels. Also, in July 2019, Vishay Intertechnology, Inc. developed a new ambient light sensor with high sensitivity for applications in sports bands and watches. Some of the key and local players in the market are IFM Efector, Inc., Centec LLC, Keyence Corporation, Endress+Hauser, Rockwell Automation, ON Semiconductor, Texas Instruments Incorporated, and TE Connectivity.
The North America optical sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD 7 million from 2015 to 2026 for the following segments:
North America Optical Sensor Market, By Product
Optical Sensor Market, By Application
The above information has been provided for the following countries:
The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.
Read More