Optical Position Sensors -Emergence of Wearable Medical Devices enables Remote Monitoring of Patient

 Optical Position Sensors Market

Optical position sensors are used to detect the position of a light or an object as per the requirement of the users. These sensors are highly efficient as they do not involve any physical contact.

Ideally, the accuracy of the sensor should be such that it is able to detect the position of an object down to the atomic scale. Additionally, these sensors need to be compact, high-speed and immune to constantly changing environmental conditions. The three different types of optical position sensors are – one-dimensional, two-dimensional, and multi-dimensional or multi-axial sensors.

Also referred to as photodetectors, these sensors are integrated into everyday items such as barcode readers, cameras, laser printers, and others. Optical position sensors are also a mainstay in scientific instruments used to measure color or light intensity.

The global optical position sensors market in semiconductor modules and chips is growing rapidly due to the ongoing technological innovation. Moreover, these sensors are found to be very useful and are thus extensively used in the aerospace and defense, healthcare, consumer electronics, and automotive industries.

As the demand for smart gadgets in the consumer electronics segment grows, it is anticipated to subsequently boost the market for optical position sensors. According to the report, the global market for optical position sensors, which in 2012 stood at US$1 bn, is expected to reach US$2.2 bn by the end of 2023. If the figures hold true, the market will exhibit a CAGR of 6.6% between 2013 and 2023.

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The emergence of wearable medical devices enabling remote monitoring of patients will substantially boost the market for optical position sensors in the near future. Additionally, with governments across major countries in North America and Europe enforcing regulations to ensure better safety in automobiles, the demand for optical position sensors in these regions is likely to increase at a robust pace.

Globally, the demand for smart devices such as smartphones and tablets is increasing rapidly, further intensifying the prevalent cutthroat competition in the mobile devices market. Hence, the most prominent manufacturers are now focusing on the latest technologies to offer more advanced devices at an affordable price. Since optical position sensors are used to improve the power management of smart devices, their demand is expected to rise significantly in the near future.

Key players operating in the global market for optical position sensors are also profiled in the report to provide a holistic overview of the market’s prevailing competitive landscape. Some of the companies profiled in the report are Sharp Corporation (Japan), Hamamatsu Photonics K.K. (Japan), Sensata Technologies (U.S.), First Sensor AG. (Germany), Melexis N.V. (Belgium), Opto Diode Corporation (U.S.), Micro-Epsilon (Germany), Siemens AG (Germany), Panasonic Corporation (Japan), and Balluff GmbH (Germany).

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