Global Light Sensor market valued USD 1.30 Billion in 2019
Published | 10 April 2020
The global Light Sensor Market register market size of USD 1.30 Billion in 2019 and anticipated to reach USD 2.26 Billion by 2026 with a significant CAGR of 7.86% during the forecast period 2020-2026. The major factors boosting the demand for these sensors is increasing consumption of consumer electronics and the trend concerning renewable energy. The miniaturization of these sensors will further increase their demand.
Increasing implementation in sectors such as consumer electronics, automotive, building automation, etc., the growing adoption of smart homes and rising implementation of light sensors in smartphones and laptops are some of the factors driving the growth of the market. Escalating demand for light sensors in different applications such as automotive, smart building and homes, and outdoor lighting applications is fueling to the growth of the global light sensor market. Increasing implementation of light sensors in electronic consumer products such as smartphones, tablets, digital displays, and televisions and continuing technological advancements in the consumer electronics industry are contributing factors boosting the market growth. Light sensors also assist in reducing power consumption and are cost-efficient. Increasing awareness for preferring smart lighting solutions among people is further driving the growth in the global light sensor market.
Increasing smartphone adoption and technological advancement stimulate the market with significant growth rate during the forecast period
Increasing implementation of light sensors in several consumer electronics such as smartphones, tablets, and the rising adoption of portable smart devices are fueling the Light Sensor market growth globally. With the increasing population and growing digitization, the demand for smartphones is accelerating across the world, particularly in developing economies such as China and India. For instance, in 2018, the Indian smartphone market witnessed a growth of 14.5% from the previous year. Due to the growing use of smartphones, manufacturers are incorporating light sensors in their devices to provide brightness control features, which further support minimizing the power consumption and increase the battery run-time. Hence, the rising adoption of smartphones is driving the demand for light sensors, globally.
Asia Pacific regional segment expected to witness the fastest growth in the global Light Sensor market
The Asia Pacific is projected to register the fastest growth in the global Light Sensor market owing to the rising demand for ambient light sensors in the consumer electronics segment. The increasing popularity of smart home appliances is another key factor driving the growth of the ambient light sensor market in the region. The growing usage of advanced electronics equipment in medical devices, availability of wide-ranging electronic products, manufacturing, and other applications, and continuing technological advancements are contributing to the growth of the region. Moreover, the large number of market players and constant technological innovations are expected to drive the light sensor market in upcoming years.
The ambient light sensors product segment is anticipated to dominate the Light Sensor market
Ambient light sensors react to the outside light and adjust according to the human eye. These sensors firmly rely on the outside environment for adjusting themselves as per the changing lighting conditions. Ambient light sensors are essentially used for backlighting controls for display devices. They are generally used to adjust the display brightness of a specific device based on the brightness of the outside environment. The increasing demand for energy-efficient solutions is the key factor driving the growth of ambient light sensor segment. Growing demand for ambient light sensors in smartphones and other consumer electronics is another relevant factor driving the growth of the ambient light sensor market. The rising adoption of ambient light sensors in the automotive sector is also contributing to the growth of the ambient light sensor market.
Light Sensor: Competitive Landscape
The Light Sensor market is fragmented owing to the presence of several large-sized companies, mid-sized & small-sized companies, and many start-ups that provide Light Sensor industry. However, the companies that hold the major share of Light Sensor market are AMS AG, Avago Technologies Inc., Sharp Corporation, Stmicroelectronics NV., Vishay Intertechnology, Inc., Apple, Inc., Elan Microelectronic Corp., Everlight Electronics Co., Ltd., Heptagon, Maxim Integrated Products, Inc., Samsung Electronics Co., Ltd., Sitronix Technology Corporation, ROHM Co., Ltd., Analog Devices, Inc., Molex, Integrated Device Technology, Monnit Corporation, Kingbright, Silicon Laboratories, Innovacom, and other prominent players.
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