The light sensors market is estimated to grow at a CAGR of 9.3% between 2016 and 2022 and is expected to reach USD 2.14 Billion by 2022.
The growth of the light sensors market is driven by the growing implementation of light sensors to perform certain functions in consumer electronics such as smartphones and tablets. Also, advancements in the automotive sector, smart homes, and outdoor lighting are expected to boost the growth of the market.
The consumer electronics sector expected to lead the light sensors market
Consumer electronics accounted for a large share of the light sensors market in 2015. The implementation of light sensor functions in mobile devices and tablets is driving the light sensors market for the consumer electronics sector. The increasing demand from OEMs to implement light sensor function such as ambient light sensing, proximity detection, RGB color sensing, and gesture recognition in mobile devices and tablets has supported the growth of this market.
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The automotive sector expected to grow at a high CAGR between 2016 and 2022
The market for light sensors for the automotive sector is expected to grow at a high CAGR between 2016 and 2022. The growing awareness about user-friendly interface with in-built light sensors for driver assistance and driver safety is propelling the growth of the automotive sector of the light sensors market. Light sensors in the automotive sector offer higher safety and vehicle reliability. These sensors are helping the driver from getting distracted while driving. All these factors are expected to drive the automotive sector supporting the growth of the light sensors market.
APAC expected to hold the largest market share by 2022
Asia-Pacific is expected to dominate the light sensors market by 2022 accounting for a large market share; it is expected to grow at a high CAGR between 2016 and 2022. The high adoption of handheld devices with in-built light sensors in the APAC region is supporting the growth of the light sensors market.
Companies involved in the development of light sensors include ams AG (Germany), Avago Technologies Inc. (Singapore), Elan Microelectronics Corp. (Taiwan), Everlight Electronics Co. (Taiwan), Heptagon (Singapore), Maxim Integrated Products Inc. (U.S.), ROHM Co., Ltd. (Japan), Sharp Corporation (Japan), Sitronix Technology Corp. (Taiwan), STMicroelectronics NV (Switzerland), Samsung Electronics Co., Ltd. (South Korea), and Vishay Intertechnology, Inc. (U.S.).
This research report categorizes the global light sensors market on the basis of function, output, integration, application, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the light sensors market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the light sensors market.
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