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The optical sensor is a device that converts light rays into electronic signals. The purpose of an optical sensor is to measure the quantity of light and depending upon the type of sensors then translates it into a readable form. Optical sensors can be either internal or external. There are five useful paraments of light which are measured by optical sensors which include intensity, phase, wavelengths, polarization and spectral distribution.
The global position sensors market is expected to achieve CAGR of USD XX million by 2023 and currently accounted for USD XXX Million in 2017. The market assumed to grow in the near future because they are highly sensitive, small and light weighted.
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1. They are widely used in semiconductors modules and chips.
2. They are used for contactless detection, counting and positioning of parts.
3. They are used in the biomedical application for monitoring optical heart rate, breath analysis and others.
4. They show a wide application in various industries such as aerospace and defence and oil and gas.
5. They are capable of monitoring a wide range of chemical and physical paraments.
6. They are highly sensitive, small and lightweight.
The optical position sensor market is segmented on the basis of application, type and others. By type, it is further divided into one-dimensional optical position sensors and two-dimensional optical position sensors and multi-axial optical position sensors and others. By application, it is divided into aerospace and defence, automotive, consumer electronics, healthcare and others. The market statistics reveal that defence is the largest revenue-generating sector, followed by the automotive sector.
The major competitors on the competitive landscape of the optical position sensor market are Sharp Corporation (Japan), First Sensor AG, (Germany), Micro-Epsilon (Germany), Hamamatsu Photonics K.K. (Japan), Opto Diode Corporation (U.S.),Sensata Technologies (U.S.), Panasonic Corporation (Japan), Melexis N.V. (Belgium), Siemens AG (Germany), Balluff GmbH and Other Major & Niche Key Players. All these companies are providing tough competition in the market and thus companies are modifying their plans and strategies in order to have a large customer base.
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The geographical distribution of the optical position sensor market covers countries such as North America, Asia-Pacific, Europe and others. The market analysis depicts that North America holds the major share in the market because of its application in the consumer electronics, wearable devices, automobiles and aircraft in the market. Further, countries such as the U.S. and Canada have also significant growth in the market. Asia-Pacific witnessed significant growth in the market because of the economical to use and is easily accessible.