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| Global Light Sensors Market Growth |
The global light sensors market is estimated to be valued at US$ 3.52 Bn in 2023 and is expected to
exhibit a CAGR of 10% over the forecast period 2023 to 2030, as
highlighted in a new report published by Coherent Market Insights.
Market Overview:
Light sensors are used to detect presence or absence of light as well as
variations in light intensity. Optical or photonic light sensors are used in
electronic devices for automatic lighting controls, camera auto-focus options,
smart home appliances and others. They provide advantages like non-contact measurement,
automated operations and increasing efficiency.
Market key trends:
One of the key trends seen in the light sensors market is the growing adoption
of IoT devices and home automation systems. Integration of light sensors and
digital communication capabilities in home appliances, security systems and
others allows remote monitoring and control over devices using smartphones.
This has boosted demand for smart and customizable light sensing options.
Growing industrial automation is another factor fueling adoption of optical
sensors for presence detection, CCD camera systems, sorting and inspection
applications. Advancements in nanotechnology have enabled development of
smaller, faster and low-power consuming light sensors integrated in portable consumer
electronics.
Segment Analysis
The light sensors market is segmented by type, light sensor type, application,
and geography. Based on type, the market is divided into analogue and digital.
The digital segment dominated the market in 2022 and is expected to continue
its dominance during the forecast period. Digital light sensors provide more
precise and stable readings compared to analogue sensors, while also consuming
lesser power. This has increased their adoption across various end-use
industries.
Key Takeaways
The Global
Light Sensors Market Growth is expected to witness high growth,
exhibiting a CAGR of 10% over the forecast period, due to increasing
adoption of the Internet of Things (IoT) and growth of the consumer electronics
industry.
Regional analysis - Asia Pacific dominated the global market in 2022 and is
expected to exhibit the highest CAGR during the forecast period. This can be
attributed to the presence of key manufacturers and growing electronics
industries in countries such as China, Taiwan, Japan, and South Korea.
Key players analysis - Key players operating in the light sensors market are
Ams AG, Apple Inc., Broadcom Inc., Everlight Electronics Co. Ltd., Maxim
Integrated Products Inc., ROHM Co. Ltd., Samsung Electronics Co. Ltd., Sharp
Corporation (Foxconn Group), Sitronix Technology Corp., STMicroelectronics SA,
Texas Instruments Incorporated, and Vishay Intertechnology Inc. These players
are focusing on new product launches and partnerships to gain a competitive
edge in the market.
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