NEW YORK, March 7, 2016 /PRNewswire/ -- "The need for inbuilt light sensors in the automotive sector for driver assistance and safety would drive the growth of the light sensors market"
The global light sensors market is estimated to grow at a CAGR of 9.3% between 2016 and 2022 and is expected to reach USD 2.14 billion by 2022. The driving factors for the light sensors market are the growing implementation of light sensors for performing the functions in consumer electronic products 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.
"Automotive applications to gain maximum traction during the forecast period"
The automotive and consumer electronics application areas offer a huge growth potential for light sensors. These two applications collectively accounted for a market share of ~50% in 2015. The growing demand from OEMs to implement light sensors for certain functions to perform such as ambient light sensing, proximity detection, RGB color sensing, and gesture recognition in mobile devices and tablets has supported the growth of the consumer electronics sector of the light sensors market. The growth of the automotive market is attributed by the growing concern for driver assistance and safety. The light sensor functions such as gesture recognition, ambient light sensing, and proximity detection are expected to drive advances in the automotive infotainment segment. These sensors are helping the driver from getting distracted while driving on the road.
"Asia-Pacific expected to grow at a high CAGR by 2022"
Asia-Pacific is estimated to hold the largest market share by 2022 and is expected to grow at a high CAGR between 2016 and 2022. The major factor driving the growth of the light sensors market in APAC is the large number of mobile, laptop, and tablet users.
Several primary interviews have been conducted with market experts across four major geographies, namely, North America, Europe, Asia-Pacific, and Rest of the World (Middle East, Africa, and Latin America). The primary participants considered for the study are C-level executives, director level, and other executives from Tier 1, Tier 2, and Tier 3 companies. Break-up of profiles of primary participants are provided below:
- By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation: C-Level – 40%, Director Level – 30%, and Manager Level – 30%
- By Region: North America – 40%, Europe – 25%, APAC – 30%, and RoW – 5%
The companies involved in the development of the light sensors market include ams AG (Germany), Avago Technologies Inc. (Singapore), Elan Microelectronics Corp. (Taiwan), Everlight Electronics Co. (Taiwan), Heptagon (Singapore), Maxim Integrated Products Inc. (U.S.), ROHM Co., Ltd. (Japan), Sharp Corporation (Japan), Sitronix Technology Corp. (Taiwan), STMicroelectronics NV (Switzerland), Samsung Electronics Co., Ltd. (South Korea), and Vishay Intertechnology, Inc. (U.S.). Moreover, the companies such as Apple, Inc. (U.S.), and Samsung Electronics Co., Ltd. (South Korea) are considered as prominent purchasers of light sensors for their consumer electronics sector.
Reasons to Buy the Report:
- This report includes the market statistics pertaining to function, output, integration, application, and region, along with their respective market size.
- The Porter's five forces framework has been provided along with the value chain analysis to offer an in-depth insight into the light sensors market.
- Major drivers, restraints, and opportunities for the light sensors market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the markets based on function, output, integration, application, and region have been provided to give an overall view of the light sensors market.
- The detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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