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According to a new report Global Light Sensor Market, published by KBV research, The Global Light Sensor Market size is expected to reach $5.5 billion by 2026, rising at a market growth of 12.6% CAGR during the forecast period. The development of the light sensors market is boosted by the increasing implementation of light sensors to carry specific functions in consumers’ electronics like smartphones and tablets. Also, developments in the automotive sector, smart homes, and outdoor lighting are anticipated to drive the development of the light sensors market.
The segment of proximity detection dominated the market in 2019 and represented a significant revenue share. The segment development can be credited to its wide range of uses in automotive and industrial manufacturing. Proximity detectors answer to changes in infrared light to detect motion or proximity to other objects. Furthermore, ambient light sensing technology is getting popular due to its rising adoption in smart electronics. This is significant because of the fact that light detectors assist in adjusting the intensity of LED and LCD screens according to the amount of ambient light. They also save energy and provide a suitable amount of screen brightness to users.
With respect to revenue, the segment of consumer electronics represented the highest share due to the rising demand and utility of electronic items among consumers. Light sensing devices are observing a surge in demand from applications like laptops, smartphones, and LCD/LED television. The healthcare sector is increasingly growing, as a result, boosting the use of advanced instruments integrated with light sensors. Light sensors are extensively used in the medical segment for detecting pathogens, checking oxygen levels in patients (pulse oximeters), and blood diagnostics.
The market was dominated by the Asia Pacific with a significant share of 2019 due to its rising population and rising demand for smartphones and consumer electronics. Furthermore, the increasing quantity of handheld devices with integral light sensors is anticipated to boost the development of the market. North America is anticipated to observe considerable development over the forecast period du rot the early adoption of light detection solutions. The regional market is defined by a massive number of vendors like Maxim Integrated Products Inc., Analog Devices, Inc; Broadcom Inc., which are rigorously innovating and developing sensors.
Structural Insights: https://www.kbvresearch.com/light-sensor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Broadcom, Inc., Analog Devices, Inc., Cognizant Technology Solutions Corporation, Samsung Electronics Co., Ltd. (Samsung Group), STMicroelectronics N.V., Sharp Corporation, Rohm Semiconductors Co., Ltd., Vishay Intertechnology, Inc., Everlight Electronics Co., Ltd. and AMS AG.
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