The value-added manufacturing experienced an increment in annual growth rate from 1.6% in 2016 to 3.4%. This increasing growth of manufacturing sector is demanding a huge requirement for improving reliability and performance of monitoring applications. At the same time, knowledgeable and competent workforce specialized to handle these tasks are of huge demand. The depletion of the knowledgeable workforce coupled with the demand to reduce maintenance and operational costs are augmenting the need to develop better productive instruments. This, in turn, is changing the paradigm of selecting and deploying process tools and instrumentation. Most of these areas include energy, process control, safety and security, high precision, automobile, and healthcare automation. Industrial position sensitive device, multiaxial optical position sensor, automotive position sensor or detectors and transmitters play a dominant role in these areas to increase the functionality and productivity of the instrumentation. In those sectors, industrial sensing detectors measure proximity, position, velocity, level, and temperature parameters. Optical position sensing detector plays a prominent role in measuring position, displacement, and proximity with high resolution and accuracy. Tools such as optical position sensing detectors embedded in the industrial instrumentation when coupled with advanced technology such as cloud computing, support engineers or users in completing their tasks promptly and accurately. These potential benefits in the optical position sensing detector market are increasing their applications in the industrial sector.

The global Optical Position Sensing Detector Market size has attained a value of $1.43 billion in 2018. Furthermore, the total revenue is projected to increase with a CAGR of 8.7% over the forecast period 2019-2025.

Dynamic applications in Robotics Surging the Optical Position Sensing Detector Market Demand

Robots play a substantial role in automation. The high-penetration of artificial intelligence along with the reduced cost of hardware sustainably developing the innovation of new models in robots. These models are serving diverse tasks in various industrial, residential, and service sectors. In a robot, mechanical systems require high dynamic trajectory control to engage in myriad applications. Often, these applications are repetitive and tedious. Jobs such as grinding, manufacturing, inspection, and manufacturing involve the execution of tasks with unknown trajectories. So, there is a huge demand for position sensorial systems to measure accurate velocity and position sensing of the robotic arms. Position sensing detectors (PSDs) in these systems enable high accuracy and repeatability of the tasks with increased performance. Position-based sensors in these detectors are also used to retrieve 3D information about a scene to estimate the position and orientation of the target. This achieves position sensors a competitive edge over camera sensors in offering good positional accuracy with a shorter response duration. These advantages of optical position sensing detectors are significantly increasing their demand in the robotics sector. Consequently, the optical position sensing detector market size is dominated with a huge influence of nascent robotics applications.

Emerging Technologies in Consumer Electronics Driving the Growth of the Optical PSD Market

Consumer electronics is the largest application in the global optical position sensing detector market and growing at a CAGR of 9.9% during the forecast period. The total production of global electronics and IT industries is anticipated to rise 8% on year in 2018. The increasing consumer needs coupled with the high-speed data processing demands are boosting the advancements of electronic devices. The sharp perpetration of IoT and cloud computing in home appliances along with the advent of 4G and nascent 5G are further increasing the diversity and precision range of electronics including smartphones. Optical position sensing detectors have expedited applications in wireless applications with remote control and other multimedia such as audio and video devices. These huge applications coupled with the IoT advancements are boosting the growth of optical PSD market in the consumer electronics segment. 

Increasing Demand for Power-Efficient Optical Position Sensors Driving Innovations in North America

North America is a dominant region in the global optical position sensing detectors market with a regional share of 36.4% in 2018. Huge demand for energy-efficient systems are driving the demand for optical PSDs in North America, especially in the U.S. North America countries such as the U.S and Canada are workhorses for energy and manufacturing plants. In order to sustain this rising demand from these energy and manufacturing sectors, companies are increasing their innovations to manufacture power-efficient optical position sensors and devices. As a result, R&D activities are also gaining traction in the optical sensor technologies. These endeavors in North America are boosting the optical position sensing detector market share in that region.

Key Players Perspective – Global Optical Position Sensing Detector Market

Companies such as First Sensors AG, Siemens AG, Panasonic Corporation, Opto Diode Corporation, Sharp Corporation, Micro-Epsilon, Balluff GmbH, Sensata Technologies, Hamamatsu Photonics K.K., and Melexis N.V. held a major part in the optical position sensing detector market share. These players are expanding their global presence with seamless product launches and acquisitions majorly consisting of medical, industrial, and automotive applications. Some of which include:

·         In Jun 2019, TE Connectivity Limited, a Switzerland-based consumer electronics company signed a business combination agreement with First Sensor AG. Signing this agreement, the company announced its decision to take over outstanding shares of First Sensor voluntarily. With the addition of First sensor portfolio to TE Connectivity, the company is planning to strengthen their combined position in sensor technology market while taking the strategic advantage to increase its broad range of integrated sensor solutions. Furthermore, the team plans to address growing consumer needs aligned with global growth trends in transportation, medical, and other industrial segments.

·         In July 2019, Hamamatsu Photonics K.K, a Japanese organization in manufacturing optical sensors, electric light sources and other related instruments for technical, medical, and scientific use expanded its facility. The company completed the construction of a new factory Building No. 14, at the main factory site in Japan which starts operating from October. Furthermore, it plans to expand the production area to enhance speed and production capacity of opto-semiconductor devices such as image sensors and position sensors. Besides, the new building is constructed with strong disaster countermeasures to endure extreme conditions such as earthquakes and floods.

·         In 2019, AMS AG an Austria-based semiconductor company providing leading sensor solutions with innovative optical sensing technologies transforming healthcare, automotive, smartphones, and smart agriculture systems, has demonstrated new optical sensor technologies at the Sensors Expo 2019. In this conference, the company revealed how it is advancing towards sensor technologies which include highly advanced 3D sensor technology for wearable devices, smartphones, automotive, and robotics. Furthermore, the demonstrations continued on industrial and medical optical sensing along with spectral, image and audio sensing applications.


Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=18595

Related Reports:                                                                                      

A.    Optical Sensors Market

https://www.industryarc.com/Report/58/Global-Optical-Sensors-Market.html

B.     Electro-Optical Sensor Market

https://www.industryarc.com/Report/15652/electro-optical-sensor-market.html

Any other custom requirements can be discussed with our team, drop an e-mail to [email protected]  to discuss more about our consulting services.

To request for a quote, provide your details in the below link:

https://www.industryarc.com/reports/request-quote?id=18595

Media Contact:

Mr. Venkat Reddy

Sales Manager          

Email: [email protected]

Contact Sales: +1-614-588-8538 (Ext-101)

About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.