The latest report on Optical Position Sensors Market by Infinium Global Research gives complete coverage of the Optical Position Sensors Market by end user (automotive, consumer electronics, healthcare, aerospace & defense, and others) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Optical Position Sensors such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Growing Applications of Optical Position Sensors in the Automotive Industry are the Major Factor Driving the Growth of the Optical Position Sensors Industry
The optical position sensor is a device used for determining the distance traveled by a body starting from its reference point. The key purpose of the optical sensor is to measure the physical quantity of light depending upon the type of sensor. Optical Sensors are used for contact-less detection, counting or positioning of parts. Position sensors are used in a wide variety of industrial and commercial applications, from high-end military and defense applications through to low cost automotive and consumer appliances. The different types of optical sensors include light sensors, photoelectric sensors, image sensors, infrared detectors, motion sensors, position sensors and many more. Some of the major applications of position sensors include a drive by wire cars, injection molding machines, bullet train taking curves and packaging machines.
Growing applications of optical position sensors in the automotive industry are the major factor driving the growth of the optical position sensors market. In the automotive industry, the optical position sensors are used to sense the position of pedals, steering wheels, various valves, seat position, and actuators. Moreover, the optical position sensors are being actively used to detect the position of the vehicle and act as parking assistance. In addition, these sensors are used to identify the position of the driver in case of an accident and release the airbags accordingly.
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Significant Growth Towards the Optical Position Sensor Industry
Technological advancements and ongoing innovations in the field of electronics to reduce the size of the chipset is anticipated to contribute significant growth towards the optical position sensor market. Furthermore, rising demand for handheld devices such as smartphones and tablets and gesture recognition makes optical position sensors technology more popular among mobile device manufacturers and users. However, the dearth of international standards to determine the performance of the sensors are likely to curtail the growth of the optical position sensor market. Emerging concepts of virtual reality and wearable medical device for remote monitoring of the patients are anticipated to create several growth opportunities for the key players in the optical position sensors market.
Among the geographies, North America dominated the optical position sensors market followed by Europe. The growth in the North American regions is due to ongoing technological innovations in the semiconductor industry. Increasing anxieties of drivers concerning vehicle safety are expected to drive the market for optical position sensors in the automotive industry in Europe. The fluctuating government laws in Europe and North America is safeguarding the need for enhanced safety in automobiles. Moreover, the robust development of the manufacturing sector and a tremendous appetite for new machine tools in the Chinese market are expected to boost regional growth over the next seven years.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Optical Position Sensors.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.