Global Optical Position Sensor Market Poised for Steady Growth, Projected to Reach USD 3.26 Billion by 2027

Posted  by GoPhotonics


ReportLinker recently released a report on, "Global Optical Position Sensor Market Analysis 2023". According to the report, the Global Optical Position Sensor Market is expected to grow from $1.98 billion in 2022 to $2.21 billion in 2023 at a CAGR of 11.4%.

The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The optical position sensor market is expected to reach $3.26 billion in 2027 at a CAGR of 10.2%.

The optical position sensors market consists of sales linear encoders, rotational encoders, optical distance sensors, and fiber optic sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. 

The value of goods in this market includes related services sold by the creators of the goods. 

Optical position sensors are electronic devices that use light to determine the position, displacement, or movement of an object. The sensors are used to measure the distance by tracking the time needed for an optical pulse to travel from the laser to the target and back to a detector. 

Asia-Pacific was the largest region in the optical position sensor market in 2022. The regions covered in optical position sensors report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 

The main types of optical position sensors are one-dimensional optical position sensors, two-dimensional optical position sensors, and multi-axial optical position sensors. One-dimensional optical position sensors are devices that detect the position of an object along a single axis or direction using a light source and a detector to measure the intensity of the light received, which are used in applications such as linear motion control, machine tools, and robotics. 

These are applied in machine tools, robotic systems, hydraulic cylinders, range finders, autofocus cameras, medical equipment, and others, and are used by aerospace and defense, automotive and transportation, consumer electronics, healthcare, industrial, energy and utility, and others. 

Increasing demand for smart electronic devices is expected to propel the growth of the optical position sensor market going forward. Smart electronic devices refer to context-aware electronic devices that can perform independent computing and communicate with other devices for data exchange. 

Optical position sensors are used in smart electronic devices such as smartphones or ambient light sensing to prolong their battery life and optimize screen brightness according to the lighting conditions in their surroundings. For instance, according to Oberlo, a Germany-based operator of a drop-shipping platform, 57.4 million households in the US are using smart home devices in 2022, 6.7% more than in 2021, during which 53.8 million households were using smart home devices. Therefore, the increasing demand for smart electronic devices will drive the growth of the optical position sensors market. 

Technological advancements are a key trend gaining popularity in the optical position sensor market. Major market players are concentrating their efforts on creating new sensor technologies to sustain their position in the market. 

For instance, in June 2021, NEC Corporation, a Japan-based provider of information technology solutions in telecommunications and related software and services, launched NEC Intelligent Optical Fiber Sensing Solution. It is a solution that allows communications service providers (CSP) and optical fiber owners to utilize optical fiber as a sensor. 

It utilizes NEC’s optical fiber sensing technology involves the use of AI to analyze vibrations detected by optical fibers. This facilitates the identification of anomalies like fiber damage and assists in averting future damages. 

In May 2021, MKS Instruments Inc., a US-based manufacturer of instruments, subsystems, and process control systems acquired Photon Control Inc. for $291.44 million. With this acquisition, MKS Instruments Inc. focuses on expanding its portfolio of key technologies and enhancing its critical etch and deposition applications in semiconductor wafer fabrication. Photon Control Inc. is a Canada-based manufacturer of optical position and displacement sensors.

The countries covered in the optical position sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). 

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. 

The optical position sensor market research report is one of a series of new reports that provides optical position sensor market statistics, including the optical position sensor industry global market size, regional shares, competitors with an optical position sensor market share, detailed optical position sensor market segments, market trends, and opportunities, and any further data you may need to thrive in the optical position sensor industry. This optical position sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Major players in the optical position sensor market are 

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