Optical Position Sensor Market Synopsis, Key Findings, Major Companies Analysis and Forecast to 2023

05/lug/2019 13:40:19 Rahul Sisodiya Contatta l'autore

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Optical Position Sensor Market Highlights:

The global optical position sensor market is poised to touch USD 2,648.4 million at 11.08% CAGR during the predicted years. An optical position sensor is used for measuring the physical quantity of light, resting on the sensor type, then translates the same into a form which is readable through an integrated measuring device. It is utilized for contact-less detection, positioning or counting of parts. These sensors can either be external or internal. An Optical Position Sensor Market also helps to improve the power management especially of smart devices. It is widely used in robotics, test equipment and machine tools. Optical position sensor is utilized in optical encoders for offering actuators with position feedback. This comprises of a glass or plastic disc that rotates amid a light receiver that is the photodetector and the light source. Not only this, optical position sensors are also used in the automotive sector. It is used in cars for improving its safety while driving.

There are ample factors that is boosting the growth of the optical position sensor market. These factors as stated by the Market Research Future (MRFR) report include growing demand for automobile safety, surge in consumer electronic devices namely cellular phones, cost-efficiency of sensors, demand for high-performance sensors, and increase in the adoption of wearable medical devices. The additional factors contributing to the market growth include ongoing innovations and technological advancements in the electronics sector, growing trend of autonomous cars, and the different advantages of using optical position sensor especially high accuracy and light weight. On the contrary, less customization, low accuracy, failure of performing in robust environment and high prices of raw materials and components are factors that may hinder the growth of the optical position sensor market during the predicted years.

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Optical Position Sensor Market Key players

Leading players profiled in the optical position sensor market include Bourns Inc. (US), Hamamastu Photonics K.K. (Japan), Sensata Technologies (US), Balluff GmbH (Germany), Honeywell International, Inc. (US), Sharp Corporation (Japan), Opto Diode Corporation (US), Panasonic Corporation (Japan), Siemens AG (German) and First Sensors AG (Germany). Along with this, there are other players as well that are contributing to the growth of the market. These include Vishay Intertechnology, Inc. (US), Renishaw plc. (UK), Micro-Epsilon (US), Melexis N.V (Belgium) and others.

May 2019- Leading left ventricular assist devices maker, Abiomed is all set to launch Impella CP pump with SmartAssist device. The newly FDA approved pump comes with optical position sensor which physicians can utilize for positioning and repositioning the device devoid of depending on ultrasound imaging, X-ray or a cath lab. Every minute this pump can deliver about 4.3 liters blood.

Optical Position Sensor Market Segmentation

MRFR report offers a wide segmental analysis of the optical position sensor market on the basis of type and end-user.

Based on type, it is segmented into multiaxial, two-dimensional and one-dimensional. Of these, multiaxial will have the largest share in the market during the predicted years.

Based on end-user, the optical position sensor market is segmented into healthcare, aerospace and defense, automotive, consumer electronics and others. Of these, consumer electronics will dominate the market during the predicted years.

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Optical Position Sensor Market Regional Analysis

By region, the optical position sensor market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, Asia Pacific is predicted to remain head and shoulders above others in the market during the predicted years. This is owing to increasing use in the consumer electronics automotive segment. The optical position sensor market in North America will have the second major share in the market during the predicted years. This is owing to the readiness to adopt technological advancements and developments in 4.0 and robotics. The optical position sensor market in the European region will continue to develop at a high CAGR due to growing demand for optical position sensor in the automotive industry. Besides, strict government regulations concerning vehicle safety is predicted to boost the market growth in this region.

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