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| Global Light Sensors Market Size |
Light
sensors find wide applications in automobile and consumer electronics owing to
their ability to initiate actions depending on ambient light intensity. They
are used in automatically adjusting display brightness, motion-sensing, ambient
light-adaptive headlights, and other functions. Rising adoption of automation
across industries is fueling the demand for light sensors. With the
proliferation of advanced driver-assistance systems and autonomous vehicles,
automotive manufacturers are increasingly integrating sophisticated lighting
and control systems, thus supplementing the 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 7.9% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Opportunity
The rising popularity of Internet of Things (IoT) enabled smart lighting
systems presents significant opportunities for light sensor manufacturers.
These smart lighting networks use light sensors to detect motion and adjust
lighting accordingly, thereby offering optimized operations and energy savings.
Integration of light sensors with smart home automation further enhances their
demand. As consumers increasingly opt for centralized lighting control through
apps and voice assistants, the market is poised for strong growth over the
coming years.
Porter's Analysis
Threat of new entrants: Low economies of scale and high capital required for
manufacturing plants and R&D for technology pose entry barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to
availability of substitutes but demand for accuracy and reliability keeps it in
check.
Bargaining power of suppliers: Suppliers have moderate power due to
availability of alternative components but need for customization limits it.
Threat of new substitutes: New digital technologies can pose threat but
widespread use of light sensors keeps it low.
Competitive rivalry: Intense due to large number of regional and global players
vying for market share through product innovation.
SWOT Analysis
Strength: Wide applications in various end-use industries and ability to
accurately measure light intensity.
Weakness: High production costs and vulnerability to fluctuating prices of raw
materials. Require regular calibration and maintenance.
Opportunity: Growth of IoT and smart infrastructure is widening scope of
applications. Rising focus on energy conservation raises demand.
Threats: Economic slowdowns can dampen capital investments. Delays in upgrading
infrastructure projects affect demand.
Key Takeaways
Global
Light Sensors Market Size is expected to witness high growth over the
forecast period owing to rising applications in consumer electronics,
industrial automation, automotive among others.
Regional
Analysis: The Asia Pacific region currently dominates the market and is
expected to maintain its pole position throughout the forecast period led by
China, India, Japan and South Korea. Growth will be spurred by rapid
industrialization, infrastructure development and rising disposable income
levels driving consumer goods sales.
Key players operating in the light sensors market are Kamstrup, Danfoss,
Qundis, Itron, Zenner, Engelman, Ista, Landis+Gyr, Diehl, Sontex, Brunata,
Apator, Techem, Techno-Trade, GWF MessSysteme, Weihai Ploumeter, and Axioma
Metering. They are focusing on new product innovations tailored to requirements
of emerging sectors like autonomous vehicles, smart cities and homes. For e.g.
Kamstrup recently launched transmitters and meters with integrated sensors for
street lighting and traffic control applications.
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