Optical Sensor Market Outlook – 2027 

Optical sensor is a device that converts light or infrared rays to electronic signals by interpreting physical quantity of light and converting it to a form that is readable by instruments. Optical sensor is actually part of a larger system that comprises light source, measuring device, and optical sensor, which are able to detect change in electromagnetic radiations from infrared up to ultraviolet wavelengths. 

These are used in large-scale in the consumer electronics sector in smart applications such as occupancy sensing, gesture recognition, smart heating, lighting as they are highly sensitive, compact, light-weight, and easily-adaptable with highly stable performance. Optical sensors have robust applications in biomedical field such as heart-rate monitoring as they are reliable, require no maintenance and are capable of monitoring wide range of physical and chemical parameters. 

Low cost optical chemical sensors are used for biomedical analysis, bioprocess control, detection of harmful chemicals such as benzene, toluene, as they are chemically inert, immune to electromagnetic interference, and can work efficiently in harsh environment. Incorporation of 5G technology and further development of this low-power consuming device are anticipated to boost the optical sensor market share in the coming years.

The global optical sensor market is segmented on the basis of type, operation, product type, application, industry vertical, and region. Based on type, the optical sensor market is bifurcated into extrinsic and intrinsic. In terms of operation, the market is categorized into through-beam, retro-reflective, and diffuse reflection. On the basis of product type, the optical sensor market is divided into photoelectric sensors, ambient & proximity light sensors, image sensors, fiber optic sensors, and others. 

In terms of application, the optical sensor market is segmented into pressure & strain sensing, temperature sensing, geological survey, biometric, and others. On the basis of industry vertical, the market is segregated into consumer electronics, industrial, aerospace & defense, oil & gas, automotive, healthcare, and others. Geographically, the optical sensor market is analysed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global optical sensor industry include ROHM Semiconductor, AlphaSense, NXP Semiconductor, ABB Ltd. Hamamatsu Photonics, ams AG, Analog Devices Inc., Texas Instruments, STMicroelectronics, and Honeywell International Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global optical sensor market. 

Top Impacting Factors

Increasing demand of advanced security features in smartphones, tablets such as in-display fingerprint scan or image scan by analyzing lightest and darkest areas of image is the major factor driving the optical sensor market growth. In addition optical sensing devices are used in biochemical sensing, optical coherence tomography, temperature sensing applications in healthcare sector. However, imbalance between image quality, high cost and less acceptability of the product due to lack of awareness tends to restrain optical sensor market growth.

On the contrary, electro-optical sensor systems with faster beam scanning speeds are used in defense sector to capture suspicious activities or aim a target in long-range still conserving high sensitivity and large bandwidth.  Ongoing development in precisely functioning optical sensors accompanied by collaboration of IoT and Big data with a view to employing these sensors more towards robotics tends to present new pathways to the optical sensor industry.

New Product Launches to Flourish the Market

Key optical sensor market players have adopted necessary steps to improve the precision and functionality of optical sensors used in image processing devices and overall sensing technology.

In June 2019, Hamamatsu Photonics, a Japanese manufacturer of optical devices, developed G14674-0808W, an InGaAs Image sensor that can detect short-wavelength IR light up to 2.55µm, the longest wavelength detectable by this type of area image sensor. This sensor consists of an IngaAs photosensitive area that converts light into electrical signals and a signal integrated read-out circuit. 

The in-circuit design is such that it minimizes the dark current generated in the photo-sensitive area. In addition the circuit design is miniaturized as the shorter signal path increases signal readout speed to more than twice of that of current products. This new InGaAs area image sensor is installed in hyper-spectral cameras for plastic recycling as these cameras can screen and sort plastics containing flame-retardant resin to separate them out from other plastics. 

Surge in Use in Industrial and Automotive Application

Optical sensors are mostly used in driver assistance systems for lane-keeping assistant, parking assistant and emergency brake assistant systems. These optical sensors based on infrared lasers have a rising integration into wide range of automated machinery primarily for non-contact detection such as monitoring conveyor systems, transport systems and assembly lines.

In January 2020, ams AG, worldwide supplier of sensor solutions, launched the CMOS Global Shutter Sensor (CGSS) Near Infrared (NIR) image sensor, CGSS130 that enables 3D optical sensing applications such as face recognition, payment authentication among others. The CGSS130 sensor has high quantum efficiency at NIR wavelength up to 40% at 940nm and 50% at 850nm. The stacked BSI process used to fabricate the sensors offer small footprint of 3.8mm*4.2mm. 

The sensor produces monochrome images with an effective pixel array of 1080H × 1280V at maximum frame rate of 120 frames/s. In addition it offers high dynamic range (HDR) mode of more than 100dB. The CGSS130 is 4times more sensitive to NIR wavelengths and reliably detects reflections from very low-power IR emitters in 3D sensing systems. The sensor is used for 3D sensing technologies such as Active Stereo Vision, Time-of-flight and Structured Light.

Key Benefits of the Stakeholders

• The study gives an analytical overview of optical sensor market forecast with current trends and future estimations to determine imminent investment pockets.
• The report provides information related to key drivers, restraints, and opportunities along with detailed optical sensor market analysis.
• The current optical sensor market trends are quantitatively analyzed from 2020 to 2027.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

Market Scope and Structure Analysis

COVID-19 Scenario Analysis

• The outbreak of COVID-19 has presented huge challenge to national resources and entire race to adapt to existing technologies and deploy new, innovative ones. In response to the global shutdown scenario the production process of electronic components is under temporary halt thereby disrupting overall supply chain. 
• Organizations have been influenced to shift from contact-based biometric technology to contactless solution. In February 2020, China International Optoelectronic Exposition reported that IRay Technology manufactured thermal imagers incorporating optical sensors for real-time temperature sensing of potential COVID-infected patients. Airports, railway stations, factories, and hospitals are equipped with this imager that warn through alarm, when unusual temperature is detected. Xi’an Institute of Optics has donated infrared projection vein finder to visualize veins and increase injection efficiency as it is difficult for healthcare staff to locate veins while wearing fully protective suit due to the pandemic.
• The applications of optical sensor in healthcare and emergency services to help battle COVID through temperature, heartbeat monitoring among others mainly drives the market in this time of crisis. Due to halt in manufacture there occurs disruption in the already unbalanced demand-supply scenario. Though there is a demand shortfall due to lockdown of operations optical sensors market is anticipated to make fast rebound after the restrictions are lifted.

Optical Sensor Market Key Segments

Questions Answered in the Optical Sensor Market Research Report

• Who are the leading players in the optical sensor market?
• What would be the detailed impact of COVID-19 on the optical sensor market size?
• What are the current trends that would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the optical sensor market?
• What are the projections for the future that would help in taking further strategic steps?