Light Sensors Market : Facts, Figures and Analytical Insights Forecast 2022-2031

Japan, Japan, Mon, 11 Apr 2022 10:10:29 / Comserve Inc. / -- Light Sensors Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The light sensors market is expected to reach a CAGR of 9.2% over the forecast period. The factors driving the light sensors market include the growing implementation of light sensor 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 light sensors market. An increase in demand for sensors in the development of smart cities and a surge in IoT technology are also expected to fuel the growth of the light sensors market.

- For instance, proximity light sensors respond to changes in infrared light to detect motion or proximity to another object. They are used for devices in vehicles that sound an alarm when the vehicle is close to bumping into an object. Proximity light sensors are common in outdoor lights to detect motion for security purposes.
- The increased adoption of LiDAR sensors in various industry verticals, such as aerospace and defense, corridor mapping and topographical survey, automotive, mining, and oil and gas, has also created growth opportunities for the light sensors market across industries.
- The recent shutdown of businesses across China, owing to the influence of COVID-19, is expected to influence the light sensors market negatively, as prices may increase over time due to no production and exhaustion of stocks maintained by the manufacturers in few months. ​

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Key Market Trends

Consumer Electronics is Expected to Hold a Major Share

- The consumer electronics sector is a rapidly changing and dynamic industry with increasing competition among the market players. Currently, manufacturers of consumer electronics are under enormous pressure to bring unique and differentiated products to the market. Major mobile manufacturing companies, such as Samsung, are partnering with light sensor manufacturers to integrate both technologies.
- Light sensor devices are witnessing an increase in application in electronic devices, such as mobiles, LCDs, and LEDs, which perform the function of automatically adjusting the screen brightness in response to the amount of light these devices receive and help in power saving for these devices.
- The increased emphasis on the use of facial recognition in consumer electronics, such as mobile phones and tablets, for the purpose of security/identity fraud prevention; access and authentication; and accessibility to accounts and services is also boosting the growth of light sensors in this industry.
- The surge in the adoption of wearable devices and innovative applications in the biomedical sector may boost the growth of the market. However, the extra costs incurred due to the incorporation of sensors in devices and reduction in the life of the device are expected to hinder the market growth.

Asia-Pacific is Expected to Register a Significant Growth Rate

- Asia-Pacific is expected to dominate the light sensors market, owing to its larger population size and increasing demand for smartphones and other consumer electronics. An increase in the adoption rate of handheld devices with inbuilt light sensors is also one of the key factors contributing to the growth of the light sensors market in the region.
- With an increase in the safety concerns among the consumers in the developing economies, such as India and the ASEAN countries, the automobile manufacturers are incorporating more sensors in low-cost vehicles. This is expected to drive the demand for light sensors in the foreseeable future.

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- The growing emphasis on the adoption of the latest technologies, such as the Internet of Things (IoT) and facial recognition, and government regulations in the emerging economies to enhance security across various industry verticals are leading to increased deployment of light sensors, which is, in turn, boosting the growth of the industry in the region.
- For instance, in December 2019, China put into effect new regulations that require Chinese telecom carriers to scan the faces of users registering new mobile phone services, a move aimed at cracking down on fraud, as stated by the government. Such regulations are creating growth opportunities for the light sensors market.

Competitive Landscape

The light sensors market is fragmented, due to many large and small players churning the competition in the market. Through product and technology launches, strategic partnerships, acquisitions, expansions, and collaborations, these players are trying to gain a competitive edge in the market.

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.4.1 Advancements in the Automotive Sector Fuel the Market
4.4.2 Growing Implementation of Light Sensors in Smartphones and PC Tablets
4.5 Market Restraints
4.5.1 Low Light Sensing Capabilities Act as a Restraining Factor
4.5.2 Low-cost Sensors are Increasing the Threat to Scale Down the Quality

5 Assessment of the Impact of COVID-19 on the Industry

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