Light Sensor Market Projected to be Worth US$ 2,435.9 Mn by 2027 - Transparency Market Research

Light Sensor Market Projected to be Worth US$ 2,435.9 Mn by 2027 - Transparency Market Research

PR Newswire

ALBANY, New York, April 3, 2019

ALBANY, New York, April 3, 2019 /PRNewswire/ -- The global light sensor market consists of numerous global and local players. The global market is considerably competitive and fragmented says Transparency Market Research (TMR) in a report. The global light sensor market share is evenly categorized among various major players. Several noteworthy players head the global light sensor market to deliver quality products to end-users. The most important enterprises operating in the global light sensor market are Maxim Integrated, Everlight Electronics Co., Ltd., Osram Opto Semiconductors GmbH, Sharp Corporation, and ROHM Semiconductor.

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As said in the report of TMR, the global light sensor market is projected to US$2,435.9 mn before the end of 2027, stretching out at a CAGR of 8.2% in the duration of 2019-2027. Geographically, North America is projected to lead with maximum share of global light sensor market trailed by Asia Pacific and Europe. The growth of light sensor market in the North American economy is primarily attributed to U.S. and Canada, as a rising need for cloud computing implementation in various enterprises. North America is a well-established infrastructure that enables application of cutting-edge technologies.

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On the basis of application, the global light sensor market is segregated into brightness control, planning & agriculture, placement detection, security, and others. On the basis of revenue, the brightness control category led the market in past few years. Furthermore, on the basis of both volume and value, the brightness control category is projected to grow at the maximum CAGR in the forthcoming years.

Reliable Connectivity Factoring the Global Light Sensor Market

Light detectors are used to identify electromagnetic radiation in the spectral range from ultraviolet to infrared. Light sensors are a particular type of a photodiode which senses the current ambient light level. Rising demand for light sensors is driven due to its growing application attributable to growing application of light sensors in user electronics like outdoor lighting, smart homes, tablets and smartphones, and in the automotive sector.

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The factors driving the light sensor market comprise the rising application of light sensor features in the consumer electronics like tablets and smartphones. Along with this, improvements in the automotive industry, smart homes, and outdoor lighting are projected to drive the light sensor market.

Light sensors are projected to experience a rise in need supported by rising application in industry like building automation, consumer electronics, and automotive. Requirement for light sensor gadgets is directly related to the economy's population and necessity for consumer electronics, automobiles, this is the reason why Asia-Pacific region is expected to dominate the light sensor market.

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Ever-increasing adoption of the smart home technology is projected to spur the growth of light sensor market in the upcoming years. Moreover, smart home appliances producers are using various kind of light sensors in order to reduce the use of power in smart home gadgets.

Asia-Pacific and North America Witness Huge Demand for the Light Sensor Market

Rising demand for light sensors from verticals like consumer electronics, automotive building automation, and industrial manufacturing is boosting the market. Consumer electronics is projected to lead the light sensor market supported by increasing demand for North America and Asia-Pacific region.

This review is based on Transparency Market Research's report, titled "Light Sensor Market (Type - Photo Conductive Cells, Photo Voltaic Cells, Photo Junction Diodes; Application - Placement Detection, Brightness Control, Security, Planning and Agriculture; End use Industry - Consumer Electronics, Automotive, Aerospace and Defense, Energy and Power, Healthcare, Transportation) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027."

The global light sensor market is segmented as follows:

Type

Application

End-use Industry

Region

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