What is the global market size of Optical Position Sensor Market?

Global Optical Position Sensor Market size was valued at USD 1.8 billion in 2022 and is poised to grow from USD 1.9 billion in 2023 to USD 4.17 billion by 2031, growing at a CAGR of 11.08% in the forecast period (2024-2031).

Optical Position Sensor Market Updates

Optical Position Sensor Market News

In February 2022, The AI Virtual Proximity Sensor INNER BEAUTY from Elliptic Labs, a leading provider of virtual smart sensors and a global AI software firm, will be available on Xiaomi's Redmi K50 Gaming smartphone. Robust proximity detection is provided by Elliptic Labs' AI Virtual Proximity Sensor, which eliminates the need for an additional hardware sensor. The AI Virtual Proximity Sensor replaces hardware with software sensors, lowering device cost and removing sourcing risk.
In October 2022, Lumotive and Gpixel collaborated to introduce a reference design platform that includes CMOS image sensors and 3D lidar, allowing businesses to utilise next-generation 3D lidar sensors for industrial and mobility applications such as autonomous robot navigation in logistics settings. A good option for medium- to long-range 3D applications is to combine Lumotive's LM10 beam steering chip with Gpixel's GTOF0503 indirect time-of-flight image sensor. It emphasises the accuracy and adaptability that Gpixel's sensor has to offer.
In July 2022, The IMX675, a 1/3-type CMOS image sensor for security cameras with a resolution of about 5.12 megapixels*2, is set to be released soon, according to Sony Corporation. It can produce regions of interest quickly and fully output the collected image in its entirety.

FAQs

Global Optical Position Sensor Market size was valued at USD 3.6 billion in 2023 and is poised to grow from USD 3.96 billion in 2024 to USD 8.49 billion by 2032, growing at a CAGR of 10.0% during the forecast period (2025-2032).

Considering position sensors have a higher security quotient than other sensors, they are being used for more and more applications. An increasing number of end users, both small and medium sized, are realizing the value of position sensors. Some of the major companies in this market are Goodix (China), Infineon Technologies AG (Germany), SICK AG (Germany), ams AG (Austria), TE Connectivity (Switzerland), MTS Systems (US), Vishay Technologies Inc. (US), STMicroelectronics (Switzerland), and SAMSUNG (South Korea). 'Hexagon AB (Sweden) ', 'FARO Technologies, Inc. (USA) ', 'Nikon Corporation (Japan) ', 'Carl Zeiss AG (Germany) ', 'KLA Corporation (USA) ', 'Keyence Corporation (Japan) ', 'Renishaw plc (UK) ', 'SICK AG (Germany) ', 'OMRON Corporation (Japan) ', 'Cognex Corporation (USA) ', 'STMicroelectronics (Switzerland) ', 'AMS AG (Austria) ', 'Hamamatsu Photonics K.K. (Japan) ', 'TE Connectivity (Switzerland) ', 'Honeywell International Inc. (USA) ', 'Rockwell Automation, Inc. (USA) ', 'Panasonic Corporation (Japan) ', 'Infineon Technologies AG (Germany) ', 'Texas Instruments Incorporated (USA) ', 'Analog Devices, Inc. (USA)'

The augmentation of funds earmarked for the advancement and development of sophisticated and automated technology and machinery can be attributed to the growing number of key market alliances. Furthermore, increases in the amount of money allocated to R&D capabilities will pave the path for technological advancements in manufacturing.

Advancement in Optical Sensor: Optical sensors convert various wavelengths into electrical impulses for enhanced sensing applications. Ambient, infrared (IR), and ultraviolet (UV) light are among the wave kinds that optical sensors assess. These wave types are utilized to develop applications like safe facial recognition, in-display fingerprint scanners, and self-driving automobiles, among many others.

Asia Pacific takes the lead in the global market for optical position sensors due to the existence of important manufacturing centers, especially in China and Japan. The need for optical position sensors for motion control and positioning applications is fueled by the region's fast industrialization and the growing adoption of automation in a variety of industries, including consumer products, electronics, and automobiles. North America and Europe continue to have a substantial lead in the worldwide optical position sensor market because of their sophisticated technological infrastructure and abundance of prominent industry players. These areas have a high demand for optical position sensors from a variety of sectors, including manufacturing, automotive, aerospace, and healthcare, with an emphasis on improving both operational safety and efficiency.