ID: MRFR/SEM/2363-CR | April 2019 | Region: Global | 139 pages
Global Optical Sensing Market valuation can reach USD 4 Billion by 2023, according to Market Research Future (MRFR). Optical sensors are resistant to electromagnetic interference and capable of working in dynamic wavelengths. It can work on different wavelengths and has applications ranging from aerospace to law enforcement. The market is set to expand at 21.4% CAGR over the forecast period (2018-2023) owing to advances in sensors, cables, and measuring equipment.
The COVID-19 pandemic has induced the need for rapid diagnostic tests for prevention of any future diseases. Collaborations and partnerships between private and public players in the healthcare sector have been witnessed for driving innovations. The development of biosensors for measurement of biomarkers in COVID-19 detection can provide a large scope for optical sensors and sensing equipment. Moreover, evanescent wave absorbance (EWA) optical sensors can sense changes in refractive index owing to the samples for detection of foreign susbstances.
The global optical sensing market report by MRFR has been developed by relying on primary and secondary research. Research has been conducted using Porter’s Five Forces model as a base for estimating value and growth projections for the forecast period. It is segmented in the following manner:
Frequently Asked Questions (FAQ) :
The market is assessed to mark 21.41% CAGR.
The market is supposed to earn USD 4 Bn by 2023.
North America market is expected to mark 20.06% CAGR.
By type, the segments profiled are fiber optic sensors, image sensors, position sensors, ambient light sensors, and others.
Different applications identified in the report are metrology, medical instruments, pressure and strain sensing, temperature sensing, biometric and ambience sensing, remote sensing satellite, and geographical survey.
The verticals are - aerospace & defense, automotive, healthcare, consumer electronics, government & utilities, oil & gas, transportation, and construction among others.
The market share analysis offered covers the following key players - Hamamatsu Photonics K.K., ABB Ltd., Analog Devices Inc., STMicroelectronics N.V., Texas Instrument Incorporated, Teledyne Technologies Incorporated, ams AG., Oxsensis Ltd, Infineon Technologies AG., ROHM Company Ltd, Sony Corporation, TE Connectivity Ltd.