Optical Detector Market Expected to Reach $9.8 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Optical Detector Market," The optical detector market was valued at $3.6 billion in 2021, and is estimated to reach $9.8 billion by 2030, growing at a CAGR of 11.82% from 2022 to 2030.

Optical detectors are known to act as transducers by converting the physical amount of light to electric signals that instruments can measure, understand, analyses, and manipulate. They are precisely built to measure variations in light wavelength. The optical sensor responds to variations in light and displays results.

Favorable physical characteristics for sensing in extreme environments are expected to be major factors driving the growth of the optical detectors market during the forecast period. Furthermore, continuous technological advancements in optical detectors are expected to propel the optical detectors market forward. On the other hand, the low-cost alternative to optical detectors is expected to boost the optical detector market size during the forecast period.

The global optical detector industry is segmented on the basis of type, sensor type, end-use, and region. By type, market has been divided into extrinsic and intrinsic. By sensor type, the analysis has been divided into fiber optic sensor, image sensor, photoelectric sensor, ambient light & proximity sensor. By end-use, the optical detector market analysis is further divided into automotive, medical, consumer electronics, industrial, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  

The key players profiled in this report include ams AG., ROHM Semiconductor, Hamamatsu Photonics K.K., Analog Devices Inc., STMicroelectronics, Vishay Intertechnology, Inc., Excelitas Technologies Corp., Leuze electronic GmbH + Co. KG, Semiconductor Types Industries, LLC., and Fotech Extrinsics Limited.

The report focuses on the global optical detector market share and the major products & applications, where optical detectors are deployed. It further highlights numerous factors that influence the optical detector market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall optical detector market trends and demand in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices. In addition, exclusive details regarding optical photodetector and optical sensor detector are analysed in this report.

IMPACT OF COVID-19 ON THE GLOBAL OPTICAL DETECTOR MARKET

• The COVID-19 virus has hampered sensor production, as manufacturing plants around the world have temporarily shut down to prevent the virus from spreading. The widespread infection of the COVID-19 has had a significant impact on the stakeholders in the optical sensor market value chain.
• In the first half of 2020, the COVID-19 pandemic has significantly impacted the photoelectric sensor market companies' growth prospects. In 2020, several manufacturing plants, including those in the automotive, packaging, and logistics industries, ceased operations.

Key Findings of the Study

• On the basis of type, the extrinsic sub-segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
• On the basis of sensor type, the fiber optic sensor sub-segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
• On the basis of end-use, the consumer electronics segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
• On the basis of region, Asia-Pacific is projected to have the fastest-growing market during the forecast period.