Optical Sensing Market to expand at a CAGR of 14.70% by 2032

Optical Sensing Market Insights

The optical sensing market size was estimated at USD 2.2 billion in 2022. The market for optical sensing is anticipated to increase from USD 2.52 billion in 2023 to USD 7.55 billion by 2032, with a compound annual growth rate (CAGR) of 14.70% for the forecast period (2023-2032). The primary market drivers accelerating market expansion are the increased deployment of optical sensors and the increasing penetration of smartphones.

The market for optical sensing has seen tremendous expansion driven by the healthcare sector. Medical imaging, patient monitoring, diagnostics, and treatments all use optical sensor technology extensively. The increasing use of optical coherence tomography for non-invasive imaging and diagnostics is one of the key trends in this industry.

It makes it possible to image biological tissues in high detail, which helps with the early diagnosis of diseases including cancer, cardiovascular problems, and eye abnormalities. Optical sensors are being used in wearable medical devices to enable real-time data analysis and continuous monitoring of vital signs. These sensors provide precise measurements of blood glucose, blood oxygenation, and heart rate.

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Integration of optical sensors with robotic systems is one of the important trends in this field. Robots can now complete jobs with improved accuracy, dependability, and speed thanks to optical sensing technologies. Advanced robotic applications like pick-and-place operations, assembly line automation, and quality inspection are made possible by these sensors’ real-time feedback on position, orientation, and object recognition.

Optical sensors are a great option for a variety of automation applications because they can deliver accurate and trustworthy data in challenging industrial situations.

Key Companies in the Optical Sensing market include

• Oxsensis Ltd (U.K.)
• E. Connectivity Ltd. (Switzerland)
• AMS AG. (Austria)
• ABB Ltd. (Switzerland)
• Texas Instrument Incorporated (U.S.)
• Infineon Technologies AG. (Germany)
• Sony Corporation (Japan)
• ROHM Company Ltd (Japan)
• Hamamatsu Photonics K.K. (Japan)
• Analog Devices Inc. (U.S.)
• STMicroelectronics N.V. (Switzerland)
• Teledyne Technologies Incorporated (U.S.)

Segmentation

Image sensors, fibre optic sensors, ambient light sensors, and position sensors are all included in the type-based segmentation of the optical sensing market. The market was led by the image sensors category.

Based on approach, the optical sensing market is divided into intrinsic and extrinsic segments. The extrinsic category produced the highest level of revenue.

Displacement sensing, temperature sensing, pressure sensing, and vibration sensing are all included in the optical sensing market segmentation based on operations. The category of displacement sensing produced the most revenue.

Based on technology, the market segmentation for optical sensing includes spectroscopy, fibre bragg grating, laser doppler velocimetry, and fabry-perot interferometers. The market was led by the laser doppler velocimetry category.

Construction, aerospace, healthcare, transportation, consumer electronics, navigation and sensing, and accessible space communication are among the end-user industries included in the optical sensing market segmentation. The category that brought in the most money was consumer electronics.

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The analysis offers market insights for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. The presence of big corporations and increased R&D activity in the region will cause the North American Optical Sensing market to expand. With its sophisticated healthcare system and growing use of optical sensing technology in medical devices, the US in particular is essential in fostering market growth. The active use of optical sensing by sectors including oil and gas, aerospace, and automotive for a variety of applications also contributes to the expansion of the regional market.

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