Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Light Sensor Market Size, Share & Trends Analysis Report by Function (Proximity Detection, Gesture Recognition), Output (Digital, Analog), Application, Region, and Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
Global light sensor market poised for significant growth over the next decade, with predictions to expand to a substantial USD 8.87 billion by 2030.
A compound annual growth rate (CAGR) of 12.0% from 2023 to 2030 is a clear indicator of the industry's robust prospects. The accelerating demand for advanced light sensor functionalities such as proximity detection and gesture recognition in sectors including automotive and consumer electronics is largely propelling this market expansion.
Advanced applications in gesture recognition technology are transforming user interfaces across consumer devices, bolstering the segment's growth at an unparalleled pace. In healthcare, light sensor technology is swiftly becoming integral to medical equipment, with telemetry devices dependent on precise light detection for accurate measurements.
Explosive Growth in Digital Light Sensor Output Alongside Healthcare Adaptation
The digital output segment of the light sensor industry is anticipated to experience the highest growth, facilitated by the surge in smart sensor applications and the trend towards amalgamating multiple sensors within the realm of IoT devices. The adoption of automated technologies, particularly in the automotive sector, underscores the future trajectory of digital light sensor output.
Furthermore, the Asia Pacific region is projected to be the fastest-growing market due to the solid manufacturing bases across key economies like China, Thailand, and the Philippines. The burgeoning automobile and consumer electronics scenes in countries such as China and India are notably contributing to regional market growth.
This report highlights the forward march of the light sensor market and reflects industry efforts to adapt to emerging trends and integrate new technologies to enhance consumer experiences and advance technological innovation across a multitude of applications.
For corporate entities, professionals, and stakeholders, this translates into a spectrum of opportunities that harmonize with the current trajectory of digital automation and responsive technologies in the global marketplace.
Key Market Gedgets:
- The automotive and consumer electronics industries boost the market with high adoption rates of light sensors for tasks ranging from ambient light detection to advanced control and safety features.
- Smart home applications and the movement toward enhanced energy efficiency are fueling market growth within the realm of intelligent lighting systems.
- The emergence of smart city projects, leveraging IoT technology, is augmenting the market as urban infrastructure demands heightened sensor capabilities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.66 Billion |
| Forecasted Market Value (USD) by 2030 | $8.87 Billion |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Global |
Companies Profiled
- ams-OSRAM AG
- Analog Devices, Inc.
- Broadcom
- ELAN Microelectronics Corp.
- EVERLIGHT ELECTRONICS CO., LTD.
- ROHM CO., LTD.
- SAMSUNG
- SHARP CORPORATION
- Sitronix Technology Corporation
- STMicroelectronics
- Vishay Intertechnology, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/t9hozv
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
