NEW YORK, Aug. 23, 2018 (GLOBE NEWSWIRE) — The global optical position sensors (OPS) in semiconductors modules and chip market is expected to increase from USD 1,440.7 million in 2016, to USD 2,766.2 million in 2023, at a significant CAGR of 9.8% from 2017 to 2023. The factors driving the optical position sensors in semiconductors modules and chip market are increasing demand for smart devices across the globe, increasing application of OPS in automotive systems. Technological advancement and ongoing innovation in the field of electronics reduces the size of chipsets contributed towards the growth of the global OPS market. And, the use of OPS in semiconductors modules and chip technology in the various sectors such as automotive, consumer electronics and healthcare propels the growth of the global OPS market. Safety concerns in automobile industry and government initiatives to enhance safety in automobile sector and the emerging concept of virtual reality and wearable medical devices for remote monitoring of patients fuels the global OPS market. Lack of international standards to determine the performance of the sensors may hinder the growth of the global OPS in semiconductors modules and chip market.
Optical position sensors are used to measure the position of a light or an object in different dimensions (1-D and 2-D) or in multiple axes. In automobile industry, the OPS technology is used to detect the object before collision and vehicle position to help the driver with parking assistance. OPS technology take care of the driver by providing security while driving in case of an accident and releasing the air bags accordingly. Furthermore, the increasing demand of hand held devices such as smart-phones and tablets with power management features and gesture detection makes OPS technology more popular among mobile device manufacturers and users.
Based on types, the multi-axial optical position sensors segment held the major share of the optical position sensors in semiconductors modules and chip market in 2016 owing to the factors such as growing demand for commercial aircrafts in aerospace and defense industry. One-dimensional optical position sensors segment is expected to be the fastest growing segment. On the basis of application, the consumer electronics segment was the largest segment in 2016 while healthcare sector is anticipated to be the fastest growing segment and the OPS technology offers an opportunity for virtual reality, molecular modeling and medical training concept with futuristic approach.
The key players operating in the optical position sensors in semiconductor modules and chips market include Panasonic Corporation, Siemens AG, Sensata Technologies, First Sensor AG, Micro-Epsilon, Hamamatsu Photonics K.K., Opto Diode Corporation, Melexis N.V., Balluff GmbHand Sharp Corporation.
Key Findings of the Optical position sensors in semiconductors modules and chip market report:
- The Optical position sensors in semiconductors modules and chip market is expected to reach USD 2,766.2 million by 2023
- Based on types:
- The multi-axial optical position sensors segment held the major share of the optical position sensors in semiconductors modules and chip market in 2016, and one-dimensional optical position sensors segment is expected to be the fastest growing segment
- On the basis of application:
- The consumer electronics segment was the largest segment in 2016
- Healthcare sector is anticipated to be the fastest growing segment
- Increasing demand of the smart-phones with efficient power management and gesture recognition features and affordable price makes optical position sensors more popular among hand held device manufacturers
- In automobile industry, the OPS technology is used to implement safety features and parking assistance
- In healthcare sector, the optical position sensors offers an opportunity for molecular modeling and medical training
- The North American region held the major share of the OPS market in 2016
- Asia-Pacific region is expected to hold the major share of the optical position sensors in semiconductors modules and chip market during the forecast period
Optical Position Sensors in Semiconductors Modules And Chip Market–Providing Safety and Efficiency to Automobile and Consumer Electronics Industry
Optical position sensor in semiconductors modules and chip market technology are being incorporated in various industries and are widely used in automobiles, healthcare, consumer electronics, aerospace and defense. OPS technology is used to detect the object and vehicle position to help the driver with parking assistance. OPS technology take care of the driver by providing security while driving in case of an accident and releasing the air bags accordingly. Furthermore, the increasing demand of hand held devices such as smart-phones and tablets with power management features makes OPS technology more popular among mobile device manufacturer.
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Optical Position Sensors in Semiconductors Modules and Chip Market – Regional Insight
The North American region held the largest share of the global optical position sensors market in 2016. The rising safety concerns in automobiles sector, government initiatives to implement safety features and technological advancement in the field of electronics and chipsets are the major driving factors for the largest share of the OPS market in the years to come. Asia-Pacific region is expected to hold the major share of the optical position sensors in semiconductors modules and chip market during the forecast period. The factors driving the growth of the OPS market in the Asia-Pacific region are increasing demand of smart-phones and hand held devices and rising disposable income in the region.
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