The global optical sensor market size was US$ 2,299.4 million in 2021. The global optical sensor market is forecast to grow to US$ 6235.5 million by 2030 by growing at a compound annual growth rate (CAGR) of 14.1% during the forecast period from 2022 to 2030.

Optical sensors are widely used in numerous commercial and research applications for quality and process control, medico technologies, metrology, imaging, and remote sensing. It is used to calculate distances, positions, and displacements.

Factors Influencing the Market

Growing demand for wearable technology and increased concerns over health and fitness is likely to surge the demand for optical sensors. Wearable devices are used to track heart rate, oxygen saturation continuously. The demand for these devices is expected to increase in the coming years. In addition to that, miniaturized versions of optical sensors are forecast to gain significant traction in the coming years.

The escalating demand for advanced security features in smartphones will drive the fiber optic sensor market forward. In addition to that, optical sensors are also becoming an indispensable tool to save power, time, and money for manufacturers. Thus, it will benefit the optical sensors market. Furthermore, the wide applications of these sensors in intelligent lighting will contribute to the growth of the market.

COVID-19 Impact Analysis

The onset of the COVID-19 pandemic declined the demand for consumer electronics. In addition, the smart lighting industry also witnessed a significant drop in terms of revenue. The automotive and industrial sectors witnessed substantial losses, which also affected the global optical sensor market. However, the demand for wearable technology has increased steadily in order to track heart rate. Thus, it has been a benefit for the optical sensor market. The manufacturing units of the optical sensors witnessed numerous challenges, majorly during the early phase of the pandemic. Thus, it negatively affected the global optical sensor market.

Regional Analysis

The Asia-Pacific optical sensor market is forecast to grow at the fastest growth rate. It is due to the growing infrastructure development and rising number of smart city projects. In addition, rising digitization and steeply growing automotive and consumer electronics sector will contribute to the growth of the global optical sensor market.

The smartphone manufacturing industry is booming in India and China. As a result, it will offer ample growth opportunities for the regional optical sensor market. Furthermore, India has been rapidly strengthening its spending on defense, which will significantly contribute to the growth of the global optical sensor market during the study period.

Competitors in the Market

IFM Efector Inc.
Keyence Corporation
Honeywell International Inc.
ROHM Co. Ltd
Pepperl+Fuchs GmbH
Sick AG
Rockwell Automation Inc.
On Semiconductor Corporation
Vishay Intertechnology Inc.
STMicroelectronics NV
Texas Instruments Inc.
Other Prominent Players
Market Segmentation

The global optical sensor market segmentation focuses on Type, Sensor, Application, and Region.

By Type Outlook

Extrinsic Optical Sensor
Intrinsic Optical Sensor
By Sensor Type Outlook

Fiber Optic Sensor
Image Sensor
Photoelectric Sensor
Ambient Light and Proximity Sensor
Other Sensor
By Application Outlook

Industrial
Medical
Biometric
Automotive
Consumer Electronics
Other Applications
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America