Optical position sensor Market Research Report – Global Forecast till 2027

Optical position sensor Market, by Type (One-Dimensional, Two-Dimensional, and Multiaxial), End-User (Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, Others) — Forecast till 2027

ID: MRFR/SEM/5988-HCR | February 2021 | Region: Global | 100 pages

Market Synopsis


The global optical position sensor market was valued at USD 1,462.3 million in 2017 and is expected to reach USD 2,648.4 million by the end of forecast period with a CAGR of 11.08%.


The rapid growth of industrial automation is expected to create huge demand for optical position sensor. Optical position sensor is used for monitoring linear, angular and rotary movement on the factory floor. The need for optical position sensor for controlling application is rising due to continuous development in industrial automation. Optical position sensor is used in optical encoders to provide position feedback for actuators. It consists of a plastic disc or glass which rotates between a light source and light receiver which is a photodetector. Optical position sensor provides fast response as it is a non-contact type and does not need to encounter friction. Furthermore, it is light-weighted and provides a large number of counts which provides more accurate results. Optical position sensor is extensively being used in consumer electronics, especially wearables. Therefore, the rapid growth of wearables market is expected to positively impact the growth of this market. However, one of the challenges related to optical position sensor is its failure to perform in robust environment, where there is a high probability of lens or grating system being covered by foreign particles such as water, dirt, or swarf.


The optical position sensor also finds application in automotive sector where it is used in vehicles to improve the safety and aid while driving. Optical position sensor is used in vehicle headlamp dipswitch to change the beam focus in case of approaching car in the field of view. With the growth of autonomous vehicles, tremendous demand for optical position sensors is expected during the forecast period.


Segmentation


By type, the market is segmented into one-dimensional, two-dimensional, and multiaxial. Multiaxial optical position sensor is expected to dominate the market during the forecast period.


By end-user, the market is segmented into consumer electronics, automotive, aerospace & defense, healthcare, and others. Consumer electronics segment dominated the optical position sensor market in 2017 and is expected to continue its dominance throughout the forecast period. The automotive segment is expected to grow at significant CAGR during the forecast period.


Regional analysis


The global market for optical position sensor is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of optical position sensor market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, Asia-Pacific is expected to dominate the optical position sensor market. Increasing applications in consumer electronics automotive segments is expected to boost up the demand for optical position sensor market in this region. Furthermore, rapid adoption of industrial automation in countries such as China, Japan, and South Korea is creating demand for optical position sensor market.


North America is expected to generate significant revenue in the optical position sensor market. Rapid developments in Industry 4.0 and robotics will create opportunities for the optical position sensors market in this region. Europe continues to grow at a high CAGR owing to high demand of these sensors in automotive segment. Moreover, stringent government regulations regarding vehicle safety is expected to create demand for optical position sensor market.


Global Optical Position Sensor Market, USD Million


Optical Position Sensor Market


Source: MRFR Analysis


The global optical position sensor market was valued at USD 1,462.3 million in 2017 and is expected to reach USD 2,648.4 million by the end of forecast period with a CAGR of 11.08%.


Key players


The key players in the optical position sensor market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – First Sensors AG (Germany), Siemens AG (Germany), Panasonic Corporation (Japan), Opto Diode Corporation (US), Sharp Corporation (Japan), Honeywell International, Inc. (US), Balluff GmbH (Germany), Sensata Technologies (US), Hamamastu Photonics K.K. (Japan), and Bourns Inc. (US). These players contribute a major share in the growth of optical position sensor market.


Apart from the top key players, there are other players that contribute to the market growth. These include Melexis N.V (Belgium), Micro-Epsilon (US), Renishaw plc. (UK), Vishay Intertechnology, Inc. (US), and others.


Intended Audience



  • Position sensor manufacturers

  • Position sensor traders/suppliers

  • Raw chemical suppliers and distributors

  • Application industry manufacturers

  • Government bodies such as regulating authorities and policy makers

  • Research institutes and organizations

  • Market research and consulting firms



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 2,648.4 Million
  CAGR   11.08%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   First Sensors AG (Germany), Siemens AG (Germany), Panasonic Corporation (Japan), Opto Diode Corporation (US), Sharp Corporation (Japan), Honeywell International, Inc. (US), Balluff GmbH (Germany), Sensata Technologies (US), Hamamastu Photonics K.K. (Japan), and Bourns Inc. (US)
  Key Market Opportunities   Rapid developments in Industry 4.0 and robotics.
  Key Market Drivers

  • The rapid growth of industrial automation.
  • The rapid growth of wearables market.


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    Frequently Asked Questions (FAQ) :


    The optical position sensor market by 2023, can attain a valuation of USD 2,648 Mn at 11.08% CAGR.

    Melexis N.V (Belgium), Renishaw plc. (UK), Micro-Epsilon (US), and Vishay Intertechnology, Inc. (US).

    Multiaxial type of optical position sensors is in high demand. Other types of optical sensors are one-dimensional and two-dimensional.

    In 2017, the market of optical position sensor valued at USD 1,462.3 Mn.

    Optical position sensors are used extensively in the rapidly expanding automobile industry in the APAC, which can impel the regional optical sensor market.

    Table of Contents


    1 Executive Summary

    2 Scope of the Report

    2.1 Market Definition

    2.2 Scope of the Study

    2.3 Research Objectives

    2.4 Markets Structure

    3 Market Research Methodology

    3.1 Research Process

    3.2 Secondary Research

    3.3 Primary Research

    3.4 Forecast Model

    4 Market Landscape

    4.1 Porter’s Five Forces Analysis

    4.1.1 Threat of New Entrants

    4.1.2 Bargaining Power of Buyers

    4.1.3 Threat of Substitutes

    4.1.4 Segment Rivalry

    4.1.5 Bargaining Power of Suppliers

    4.2 Value Chain/Supply Chain of Optical Position Sensor

    5 Market Landscape

    5.1 Introduction

    5.2 Growth Drivers

    5.3 Impact Analysis

    5.4 Market Challenges

    6 Market Trends

    6.1 Introduction

    6.2 Growth Trends

    6.3 Impact Analysis

    7 Optical Position Sensor Market by Type

    7.1 Introduction

    7.2 One-Dimensional

    7.2.1 Market Estimates & Forecast, 2020-2027

    7.2.2 Market Estimates & Forecast by Region, 2020-2027

    7.3 Two-Dimensional

    7.3.1 Market Estimates & Forecast, 2020-2027

    7.3.2 Market Estimates & Forecast by Region, 2020-2027

    7.4 Multiaxial

    7.4.1 Market Estimates & Forecast, 2020-2027

    7.4.2 Market Estimates & Forecast by Region, 2020-2027

    8 Optical Position Sensor Market by End-User

    8.1 Introduction

    8.2 Consumer Electronics

    8.2.1 Market Estimates & Forecast, 2020-2027

    8.2.2 Market Estimates & Forecast by Region, 2020-2027

    8.3 Automotive

    8.3.1 Market Estimates & Forecast, 2020-2027

    8.3.2 Market Estimates & Forecast by Region, 2020-2027

    8.4 Aerospace & Defense

    8.4.1 Market Estimates & Forecast, 2020-2027

    8.4.2 Market Estimates & Forecast by Region, 2020-2027

    8.5 Healthcare

    8.5.1 Market Estimates & Forecast, 2020-2027

    8.5.2 Market Estimates & Forecast by Region, 2020-2027

    8.6 Others

    8.6.1 Market Estimates & Forecast, 2020-2027

    8.6.2 Market Estimates & Forecast by Region, 2020-2027

    9 Optical Position Sensor Market by Region

    9.1 Introduction

    9.2 North America

    9.2.1 Market Estimates & Forecast by Country, 2020-2027

    9.2.2 Market Estimates & Forecast by Type, 2020-2027

    9.2.3 Market Estimates & Forecast by End-User, 2020-2027

    9.2.4 US

    9.2.4.1 Market Estimates & Forecast by Type, 2020-2027

    9.2.4.2 Market Estimates & Forecast by End-User, 2020-2027

    9.2.5 Canada

    9.2.5.1 Market Estimates & Forecast by Type, 2020-2027

    9.2.5.2 Market Estimates & Forecast by End-User, 2020-2027

    9.2.6 Mexico

    9.2.6.1 Market Estimates & Forecast by Type, 2020-2027

    9.2.6.2 Market Estimates & Forecast by End-User, 2020-2027

    9.3 Europe

    9.3.1 Market Estimates & Forecast by Country, 2020-2027

    9.3.2 Market Estimates & Forecast by Type, 2020-2027

    9.3.3 Market Estimates & Forecast by End-User, 2020-2027

    9.3.4 Germany

    9.3.4.1 Market Estimates & Forecast by Type, 2020-2027

    9.3.4.2 Market Estimates & Forecast by End-User, 2020-2027

    9.3.5 UK

    9.3.5.1 Market Estimates & Forecast by Type, 2020-2027

    9.3.5.2 Market Estimates & Forecast by End-User, 2020-2027

    9.3.6 France

    9.3.6.1 Market Estimates & Forecast by Type, 2020-2027

    9.3.6.2 Market Estimates & Forecast by End-User, 2020-2027

    9.3.7 Rest of Europe

    9.3.7.1 Market Estimates & Forecast by Type, 2020-2027

    9.3.7.2 Market Estimates & Forecast by End-User, 2020-2027

    9.4 Asia-Pacific

    9.4.1 Market Estimates & Forecast by Country, 2020-2027

    9.4.2 Market Estimates & Forecast by Type, 2020-2027

    9.4.3 Market Estimates & Forecast by End-User, 2020-2027

    9.4.4 China

    9.4.4.1 Market Estimates & Forecast by Type, 2020-2027

    9.4.4.2 Market Estimates & Forecast by End-User, 2020-2027

    9.4.5 India

    9.4.5.1 Market Estimates & Forecast by Type, 2020-2027

    9.4.5.2 Market Estimates & Forecast by End-User, 2020-2027

    9.4.6 Japan

    9.4.6.1 Market Estimates & Forecast by Type, 2020-2027

    9.4.6.2 Market Estimates & Forecast by End-User, 2020-2027

    9.4.7 Rest of Asia-Pacific

    9.4.7.1 Market Estimates & Forecast by Type, 2020-2027

    9.4.7.2 Market Estimates & Forecast by End-User, 2020-2027

    9.5 Rest of the World

    9.5.1 Market Estimates & Forecast by Country, 2020-2027

    9.5.2 Market Estimates & Forecast by Type, 2020-2027

    9.5.3 Market Estimates & Forecast by End-User, 2020-2027

    9.5.4 Middle East & Africa

    9.5.4.1 Market Estimates & Forecast by Type, 2020-2027

    9.5.4.2 Market Estimates & Forecast by End-User, 2020-2027

    9.5.5 Latin America

    9.5.5.1 Market Estimates & Forecast by Type, 2020-2027

    9.5.5.2 Market Estimates & Forecast by End-User, 2020-2027

    10 Competitive Landscape

    11 Company Profiles

    11.1 First Sensors AG

    11.1.1 Company Overview

    11.1.2 Product/Business Segment Overview

    11.1.3 Financial Updates

    11.1.4 Key Developments

    11.1.5 SWOT Analysis

    11.1.6 Key Strategy

    11.2 Siemens AG

    11.2.1 Company Overview

    11.2.2 Product/Business Segment Overview

    11.2.3 Financial Updates

    11.2.4 Key Developments

    11.2.5 SWOT Analysis

    11.2.6 Key Strategy

    11.3 Panasonic Corporation

    11.3.1 Company Overview

    11.3.2 Product/Business Segment Overview

    11.3.3 Financial Updates

    11.3.4 Key Developments

    11.3.5 SWOT Analysis

    11.3.6 Key Strategy

    11.4 Opto Diode Corporation

    11.4.1 Company Overview

    11.4.2 Product/Business Segment Overview

    11.4.3 Financial Updates

    11.4.4 Key Developments

    11.4.5 SWOT Analysis

    11.4.6 Key Strategy

    11.5 Sharp Corporation

    11.5.1 Company Overview

    11.5.2 Product/Business Segment Overview

    11.5.3 Financial Updates

    11.5.4 Key Developments

    11.5.5 SWOT Analysis

    11.5.6 Key Strategy

    11.6 Honeywell International, Inc.

    11.6.1 Company Overview

    11.6.2 Product/Business Segment Overview

    11.6.3 Financial Updates

    11.6.4 Key Developments

    11.6.5 SWOT Analysis

    11.6.6 Key Strategy

    11.7 Balluff GmbH

    11.7.1 Company Overview

    11.7.2 Product/Business Segment Overview

    11.7.3 Financial Updates

    11.7.4 Key Developments

    11.7.5 SWOT Analysis

    11.7.6 Key Strategy

    11.8 Sensata Technologies

    11.8.1 Company Overview

    11.8.2 Product/Business Segment Overview

    11.8.3 Financial Updates

    11.8.4 Key Developments

    11.8.5 SWOT Analysis

    11.8.6 Key Strategy

    11.9 Hamamastu Photonics K.K.

    11.9.1 Company Overview

    11.9.2 Product/Business Segment Overview

    11.9.3 Financial Updates

    11.9.4 Key Developments

    11.9.5 SWOT Analysis

    11.9.6 Key Strategy

    11.10 Bourns Inc.

    11.10.1 Company Overview

    11.10.2 Product/Business Segment Overview

    11.10.3 Financial Updates

    11.10.4 Key Developments

    11.10.5 SWOT Analysis

    11.10.6 Key Strategy

    12 Conclusion


    LIST OF TABLES

    Table 1 Optical Position Sensor Market, by Region, 2020-2027

    Table 2 North America: Optical Position Sensor Market, by Country, 2020-2027

    Table 3 Europe: Optical Position Sensor Market, by Country, 2020-2027

    Table 4 Asia-Pacific: Optical Position Sensor Market, by Country, 2020-2027

    Table 5 Middle East & Africa: Optical Position Sensor Market, by Country, 2020-2027

    Table 6 Latin America: Optical Position Sensor Market, by Country, 2020-2027

    Table 7 Global Optical Position Sensor Type Market, by Region, 2020-2027

    Table 8 North America: Optical Position Sensor Type Market, by Country, 2020-2027

    Table 9 Europe: Optical Position Sensor Type Market, by Country, 2020-2027

    Table 10 Asia-Pacific: Optical Position Sensor Type Market, by Country, 2020-2027

    Table 11 Middle East & Africa: Optical Position Sensor Type Market, by Country, 2020-2027

    Table 12 Latin America: Optical Position Sensor Type Market, by Country, 2020-2027

    Table 13 Global Optical Position Sensor End-User Market, by Region, 2020-2027

    Table 14 North America: Optical Position Sensor End-User Market, by Country, 2020-2027

    Table 15 Europe: Optical Position Sensor End-User Market, by Country, 2020-2027

    Table 16 Asia-Pacific: Optical Position Sensor End-User Market, by Country, 2020-2027

    Table 17 Middle East & Africa: Optical Position Sensor End-User Market, by Country, 2020-2027

    Table 18 Latin America: Optical Position Sensor End-User Market, by Country, 2020-2027

    LIST OF FIGURES

    FIGURE 1 Global Optical Position Sensor Market Segmentation

    FIGURE 2 Forecast Methodology

    FIGURE 3 Porter’s Five Forces Analysis of Global Optical Position Sensor Market

    FIGURE 4 Value Chain of Global Optical Position Sensor Market

    FIGURE 5 Share of Global Optical Position Sensor Market in 2020, by Country (in %)

    FIGURE 6 Global Optical Position Sensor Market, 2020-2027

    FIGURE 7 Global Optical Position Sensor Market Size, by Type, 2020

    FIGURE 9 Global Optical Position Sensor Market Size, by End-User, 2020