Global Optical Detector Market to Hit $9.8 Billion by 2030: Allied Market Research

Extensive use of optical detectors in the spectrum of industries such as aerospace and defense and healthcare drive the growth of the optical detector market. Widespread COVID-19 infection had a significant impact on stakeholders of the optical sensor industry value chain, thereby, negatively impacting the growth of the market. The extrinsic segment contributed to the largest market share in 2021.

PORTLAND, Ore., July 19, 2022 /PRNewswire/ -- According to the report published by Allied Market Research, the global optical detector market accrued $3.6 billion in 2021, and is predicted to garner $9.8 billion by 2030, registering a CAGR of 11.8% from 2022 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Extensive use of optical detectors in the spectrum of industries such as aerospace and defense and healthcare drive the growth of the optical detector market. Massive demand for optical sensors across various sectors for their high accuracy and precision output will enlarge product penetration globally. The need for enhancing production efficiency has translated into massive use of photoelectric sensors, thereby creating new opportunities for growth for the market. However, low-cost alternatives to optical detectors can put brakes on the market growth.

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COVID-19 Scenario

• The COVID-19 pandemic hindered sensor production as manufacturing units across the globe were shut down temporarily to prevent the spread of COVID-19. Widespread COVID-19 infection had a significant impact on stakeholders of the optical sensor industry value chain, thereby, negatively impacting the growth of the optical detector market.
• In the first half of 2020, a deep impact of the COVID-19 pandemic was felt by firms in the photoelectric sensor business. In 2020, a large number of production plants in the automotive, logistics, and packaging industries were closed temporarily, leading to the cessation of operations. This adversely affected the sales of optical detectors.

Scope of the Report:

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The report offers detailed segmentation of the global optical detector market based on type, sensor type, end-use, and region.

Based on type, the extrinsic segment contributed to the largest market share in 2021, accounting for more than two-thirds of the overall share of the global optical detector market. Moreover, this segment is projected to register the highest CAGR of 12.2% from 2022 to 2030.

Based on end-use, the consumer electronics segment accounted for the largest share of the market in 2021, contributing to more than one-third of the overall share of the global optical detector market. However, the medical segment is predicted to record the highest CAGR of 13.1% from 2022 to 2030.

Based on region, North America contributed toward the highest market share in 2021, accounting for nearly two-fifths of the global optical detector market. However, the Asia-Pacific market is set to record the fastest CAGR of 12.8% from 2022 to 2030.

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Key players profiled in the global optical detector market research report are ams AG., Semiconductor Types Industries, LLC., Leuze electronic GmbH + Co. KG, ROHM Semiconductor, Vishay Intertechnology, Inc., Hamamatsu Photonics K.K., STMicroelectronics, Excelitas Technologies Corp., Analog Devices Inc., and Fotech Extrinsics Limited. 

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the optical detector market outlook, segments, current trends, estimations, and dynamics of the optical detector market analysis from 2021 to 2030 to identify the prevailing optical detector market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the optical detector market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global optical detector market trends, key players, market segments, application areas, and optical detector market opportunity.

 Key Market Segments

• By Type
• Extrinsic
• Intrinsic
• By Sensor Type
• Fiber Optic Sensor
• Image sensor
• Photoelectric Sensor
• Ambient Light and Proximity Sensor
• By End-use
• Automotive
• Medical
• Consumer Electronics
• Industrial
• Others
• By Region
• North America
• U.S. Optical Detector Market
• Canada Optical Detector Market
• Mexico Optical Detector Market
• Europe
• U.K. Optical Detector Market
• Germany Optical Detector Market
• France Optical Detector Market
• Spain Optical Detector Market
• Italy Optical Detector Market
• Rest of Europe Optical Detector Market
• Asia-Pacific
• China Optical Detector Market
• Japan Optical Detector Market
• India Optical Detector Market
• South Korea Optical Detector Market
• Australia Optical Detector Market
• Rest Of Asia Pacific Optical Detector Market
• LAMEA
• Brazil Optical Detector Market
• Saudi Arabia Optical Detector Market
• UAE Optical Detector Market
• South Africa Optical Detector Market
• Rest of LAMEA Optical Detector Market

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