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Global optical sensing market to grow by 16.0% to 2024

Global optical sensing market to grow by 16.0% to 2024

The Global Optical Sensing Market accounted to USD 1.3 billion in 2016 growing at a CAGR of 16.0% during the forecast period of 2017 to 2024.

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Market Definition:

An optical sensor is generally part of a larger system that integrates a source of light, a measuring device and the optical sensor. This is often connected to an electrical trigger.

The trigger reacts to a change in the signal within the light sensor. The latest trend in this market is demand of optical sensors in different application, advancement in technology leading to small size of sensors that integrates with the smartphones, as smart phones are increasing the optical sensor market will also grow.

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There is need of optical sensor for several industries like Aerospace and Defense, Utilities, Oil and Gas, Medical, Construction, Consumer Electronics, Others will create a huge market for the optical sensing. 

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The new report "Global Optical Sensing Market" accounted to USD 1.3 billion in 2016 growing at a CAGR of 16.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Global Optical Sensing Market, By Type (Wireless, wired) By End-user (Aerospace and Defense, Utilities, Oil and Gas, Medical, Construction, Consumer Electronics, Others) By Application (Pressure and Strain Sensing, Temperature Sensing, Geological Survey, Biochemical, Biometric and Ambience, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

Key Manufacutres:

  • ROHM Semiconductor,
  • ABB,
  • Hamamatsu Photonics K.K.,
  • AMS AG,
  • Fairchild Semiconductor,
  • Analog Devices, Inc.,
  • Texas Instruments Inc.,
  • Stmicroelectronics N.V.,
  • Vishay Intertechnology, Inc.,
  • Alphasense,
  • among others

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Market Segmentation:

On the basis of type the optical sensing market is segmented into Wireless, wiredThe wireless market is expected to grow in the forecasted period.

On the basis of application the optical sensing market is segmented into Pressure and Strain Sensing, Temperature Sensing, Geological Survey, Biochemical, Biometric and Ambience, Others. The Biochemical market is expected to grow in the forecasted period.

On the basis of end-user the optical sensing market is segmented into Aerospace and Defense, Utilities, Oil and Gas, Medical, Construction, Consumer Electronics, OthersThe Oil & gas market is expected to grow in the forecasted period..

Global Optical Sensing Market - Key Drivers:

  • Increasing demand in different type of applications
  • Advancements in mobile technologies
  • Lack of standardization
  • Lack of awareness of optical sensors
  • Industrial IOT Applications

Read more about the Global Optical Sensing Market [email protected] databridgemarketresearch.com/repor…l-sensing-market/

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