The Asia Pacific Optical Detector Market would witness market growth of 10.7% CAGR during the forecast period (2022-2028).
Thermal, mechanical, photoelectric, and chemical optical detectors are the four types of optical detectors. Thermocouples, molecular radiometers, metal and semiconductor bolometers, and optic-acoustic detectors are examples of thermal detectors. The most common forms of thermal detectors are thermocouples and vacuum bolometers. The thermocouple produces a thermoelectromotive force when the temperature of its light-absorbing surface changes. Thermopiles, which are made up of many thermocouples connected in series, have a higher sensitivity. The rise in the volume of a gas heated by absorbed radiation is detected by optoacoustic (pneumatic) detectors.
The automotive industry of regional countries is bolstering, due to which, the demand for optical detectors is estimated to rise. According to the National Investment Promotion and Facilitation Agency, India's automotive industry is one of the country's most significant economic foundations. It is a crucial engine of growth because of its strong backward as well as forward linkages. Over the last few years, liberalization and deliberate policy interventions have established a vibrant, competitive market and attracted several new participants, resulting in capacity expansion in the automotive sector and employment generation.
According to the national Investment Promotion and Facilitation Agency, this sector's contribution to national GDP has increased from 2.77% in 1992-93 to around 7.1% in 2015. Over 19 million people are employed directly or indirectly as a result of it. India is rapidly transforming into a worldwide automotive center.
From April 2020 to March 2020, India's automotive industry manufactured 22.7 million cars, and commercial vehicles, including three-wheelers, two-wheelers, passenger vehicles, and quadricycles, of which 4.1 million were exported. India is the world's largest tractor manufacturer, second-largest bus maker, and third-largest heavy truck manufacturer, putting it in a strong position in the international heavy vehicle market. Between 2020 and 2027, the electric vehicle market is predicted to increase at a CAGR of 44%, with annual sales reaching 6.34 million units by 2027.
The China market dominated the Asia Pacific Optical Detector Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $506.8 million by 2028. The Japan market is poised to grow at a CAGR of 10% during (2022 - 2028). Additionally, The India market would display a CAGR of 11.3% during (2022 - 2028).
Based on Type, the market is segmented into Extrinsic and Intrinsic. Based on Sensor Type, the market is segmented into Image sensor, Fiber Optic Sensor, Photoelectric Sensor, and Ambient Light and Proximity Sensor. Based on End Use, the market is segmented into Consumer Electronics, Medical, Automotive, Industrial, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Optical Detector Market is Projected to reach USD 5.9 Billion by 2028, at a CAGR of 10.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analog Devices, Inc., STMicroelectronics N.V., ams-OSRAM AG, Rohm Semiconductors Co., Ltd., Hamamatsu Photonics K.K., Vishay Intertechnology, Inc., Excelitas Technologies Corp., Leuze electronic GmbH + Co. KG, and Fotech Group Limited.
By Type
By Sensor Type
By End Use
By Country
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