The global light sensor market is projected to grow at a CAGR of 11.16% to reach US$2.556 billion by 2023, from US$1.355 billion in 2017.
Light sensors are small and inexpensive sensors that have varied applications across industry verticals including healthcare, consumer electronics, energy and power, and entertainment among many others. The major factors driving the demand for these sensors are the rising consumption of consumer electronics and the trend towards renewable energy. The miniaturization of these sensors will further boost their demand. North America and Europe held a significant market share owing to the high adoption of consumer electronics and favorable government policies promoting the use of renewable energy. The Asia Pacific region will grow at a substantial rate over the forecast period on account of rising disposable income, improvement in the standard of living, and increasing automotive production over the forecast period.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global light sensor value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the global light sensor market.
Major industry players profiled as part of the report are AMS AG, Broadcom, Sharp Corporation, STMicroelectronics, Vishay Intertechnology, Elan Home System, and Maxim Integrated among others.
|Market size value in 2017||US$1.355 billion|
|Market size value in 2023||US$2.556 billion|
|Growth Rate||CAGR of 11.16% from 2017 to 2023|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Output, Industry Vertical, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||AMS AG, Broadcom, Sharp Corporation, STMicroelectronics, Vishay Intertechnology, Elan Home System, Maxim Integrated, Rohm Semiconductor, Inc., Skye Instruments Limited, Everlight Electronics Co., Ltd.|
|Customization scope||Free report customization with purchase|
The global light sensor market has been analyzed through the following segments:
By Industry Vertical
Energy and Power
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for light sensor market?
A1. The light sensor market is projected to grow at a CAGR of 11.16% over the forecast period.
Q2. What is the size of global light sensor market?
A2. Light Sensor market was valued at US$1.355 billion in 2017.
Q3. Which region holds the largest market share in the light sensor market?
A3. The Asia Pacific region is expected to grow at a substantial share in the light sensor market.
Q4. What will be the light sensor market size by 2023?
A4. The global light sensor market is projected to reach a total market size of US$2.556 billion by 2023.
Q5. What factors are anticipated to drive the light sensor market growth?
A5. The major factors driving the demand for these light sensors are the rising consumption of consumer electronics and the trend towards renewable energy.
Elan Home System
Rohm Semiconductor, Inc.
Skye Instruments Limited
Everlight Electronics Co., Ltd.
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