A research study by Acumen Research and Consulting foresees the light sensor market growing at a CAGR around 8% throughout the forecast period and reach around $2 Billion by 2026. If true, not too shabby indeed.
Study Takeaways
- Key players in the light sensor market include Vishay Intertechnology Inc., Texas Instruments, Broadcom, Sharp Corporation, On Semiconductor, STMicroelectronics, AMS AG, Ever light Electronics Co., Ltd., Osram Opto Semiconductors GmbH, Maxim Integrated, and ROHM Semiconductor.
- Increasing technological advancements, growing advancements in transportation, smart homes, consumer electronics and automotive applications, different types of electronic products are some of the key factors fueling market growth globally.
- Growing popularity of portable smart devices is boosting the demand for light sensors.
- Consumer electronics accounted for a large share of the light sensors market in 2015.
- The market for light sensors for the automotive sector is expected to grow at a high CAGR between 2018 and 2026. The growing awareness about user-friendly interfaces with in-built light sensors for driver assistance and driver safety is propelling the growth of the automotive sector of the light sensors market.
- Asia-Pacific is expected to dominate the light sensors market by 2026 accounting for a large market share; it is expected to grow at a high CAGR between 2018 and 2026.
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