The global light sensor market is projected to grow at a CAGR of 11.82% to reach US$9.755 billion by 2027, from US$4.464 billion in 2020.
Light sensors are small and inexpensive sensors that have varied applications across industry verticals including healthcare, consumer electronics, energy & 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 toward 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.
Growing demand for consumer electronics to augment market growth
The expansion consumer electronics sector in the light sensors market has been driven by the growing use of proximity sensors and ambient light sensors in mobile phones. A spike in the use of light sensors by leading OEMs, like Samsung Electronics Co., Ltd., may present prospects for growth. The South Korean company Samsung Electronics Co., Ltd. is a key player in the market for light sensors. It has infused light sensors into various product categories, including mobile devices such as Samsung Galaxy S6 and Samsung Galaxy S6 edge, that carry out tasks like proximity detection. The proximity detection module and integrated ambient light sensor from AMS AG, TMD2755 was unveiled in July 2020, enabling mobile handset OEMs to create mobile handsets with bezel-less screens. In comparison to other devices on the market, the module is 40% lower in area and 60% smaller in volume. Further, TMD2755 helps mobile phone manufacturers in their efforts to expand the viewable display area by allowing light-sensing and proximity features to be contained in thinner bezels. This has been considered a major contributor to the rising consumer interest in mobile phones, especially in the mid-range market segment. Smartphone manufacturers are proactively integrating new technologies into their devices to enhance their product quality in terms of product quality and vision. For instance, Oppo, in April 2022, announced that its model, Oppo F21 Pro, would feature the flagship Sony IMX709 RGBW selfie sensor that is said to be 60% more sensitive to light and reduces noise by almost 35% when compared to the previous generation IMX615 RGB sensor.
APAC region to hold a dominant share
The Asia Pacific region is expected to dominate the light sensors market, due to its larger population size and soaring demand and production of smartphones and other consumer electronics. For instance, according to the ICEA (India Cellular and Electronics Association), the value of mobile phone production increased from INR 1,700 billion in 2019 to INR 2,149 billion in 2020, in India. In 2021, the value rose to INR 2,227 billion, despite the impact of the COVID-19 pandemic. A rise in the adoption rate of handheld devices with inbuilt light sensors is also expected to be one of the primary factors contributing to the growth of the light sensors market in this region. With an increase in safety concerns among consumers in developing economies, such as India and the ASEAN countries, automobile manufacturers are integrating more sensors in low-cost vehicles. This is predicted to drive the demand for light sensors in the future. Furthermore, the growing focus on the adoption of the latest technologies, such as the IoT, facial recognition, and government regulations in emerging economies to enhance security across various industry verticals are expected to increase the deployment of light sensors, which is consequently going to accelerate the growth of the industry. Additionally, the broad usage of light sensors in scanners, QR codes, and intrusion detection systems is expected to further drive market expansion.
After the massive COVID-19 outbreak, the priorities of the general population shifted towards technology and health, thereby, driving demand for ambient light sensors in applications such as medical devices. For instance, in October 2021, Osram successfully developed an ambient light sensor for mobile devices and smart wearables that could detect UV-A light. According to the company, while the UV-C portion of sunlight is blocked by the atmosphere of the earth, UV-A and UV-B radiation still manage to reach the earth's surface. Sunburn is caused by UV-B radiation, which only penetrates the upper layers of the skin. Thus, the COVID-19 crisis provided opportunities for businesses to invest, as well as implement, and research technologies requiring a lesser human touch.
|Market Size Value in 2020||US$4.464 billion|
|Market Size Value in 2027||US$9.755 billion|
|Growth Rate||CAGR of 11.82% from 2020 to 2027|
|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 Inc., Sharp Corporation, STMicroelectronics N.V., Vishay Intertechnology, Elan Home System, Maxim Integrated, Rohm Semiconductor, Inc., Skye Instruments Limited, Everlight Electronics Co., Ltd.|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the light sensor market?
A1. The light sensor market is projected to grow at a CAGR of 11.82 over the forecast period.
Q2. What is the size of the global light sensor market?
A2. Light Sensor Market was valued at US$4.464 billion in 2020.
Q3. Which region holds the largest share of the light sensor market?
A3. North America and Europe held a significant share of the light sensor market owing to the high adoption of consumer electronics and favorable government policies promoting the use of renewable energy.
Q4. What will be the light sensor market size by 2027?
A4. The global light sensor market is projected to reach a total market size of US$9.755 billion by 2027.
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 toward renewable energy.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Driver
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL LIGHT SENSOR MARKET, BY OUTPUT
6. GLOBAL LIGHT SENSOR MARKET, BY INDUSTRY VERTICAL
6.2. Consumer Electronics
6.4. Energy and Power
7. GLOBAL LIGHT SENSOR MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa (MEA)
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.5. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. AMS AG
9.2. Broadcom Inc.
9.3. Sharp Corporation
9.4. STMicroelectronics N.V.
9.5. Vishay Intertechnology
9.6. Elan Home System
9.7. Maxim Integrated
9.8. Rohm Semiconductor, Inc.
9.9. Skye Instruments Limited
9.10. Everlight Electronics Co., Ltd.
Rohm Semiconductor, Inc.
Skye Instruments Limited
Everlight Electronics Co., Ltd.
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