by The Light Sensors Market is estimated to be valued at US$ 3.52 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Light sensors are used to detect the intensity of ambient light and different level of light for various applications. They are used in smartphone cameras, notebooks, tablets and monitors to automatically adjust display brightness based on surrounding light conditions. They are also used in street lights, security systems, industrial automation and energy harvesting applications.
Market Dynamics:
The primary drivers boosting growth of the light sensors market are increasing penetration of smart devices and rising demand for ambient light sensing applications. As per analysis, over 80% of the global population owns a smart device as of 2023. Growing adoption of smartphones, tablets and wearable devices demands integration of light sensors for automatic brightness control and other features. This is propelling the light sensors market growth. Further, light sensors find wide usage in industrial automation, street lighting and other IoT applications. Rise in Machine to Machine (M2M) communications and implementation of Smart city initiatives by governments worldwide creates strong demand for light sensing solutions. The introduction of advanced light sensing technologies such as hybrid photovoltaic/photoelectric, gesture recognition and proximity sensing also stimulates market expansion.
Segment Analysis
There are two main segments in the light sensors market – ambient light sensors and proximity sensors. The ambient light sensors segment dominates the market currently owing to its widespread application in consumer electronics devices like smartphones, tablets, laptops to automatically adjust screen brightness based on surrounding light conditions. This ensures better visibility and also helps save battery life of these devices.
PEST Analysis
Political: There are no significant political risks impacting the light sensors market currently.
Economic: The global economic growth and increasing disposable incomes are driving sales of consumer electronics which use light sensors extensively. This is positively impacting the light sensors market growth.
Social: People are increasingly adopting smart devices and digital lifestyle. This social trend is increasing the demand for ambient light sensors used in these devices.
Technological: Advancements in miniaturization technologies are allowing light sensors to be integrated into smaller devices. Also, development of advanced Optical Proximity Sensors (OPS) with enhanced accuracy and shorter response times is boosting the market.
Key Takeaways
The Global Light Sensors Market Growth was valued at US$ 3.52 Bn in 2023 and is expected to reach US$ 6.87 Bn by 2030, expanding at a CAGR of 10% during the forecast period. The growing adoption of consumer electronics such as smartphones, laptops, tablets, wearable devices, and gaming consoles is driving the demand for light sensors significantly.
North America dominated the light sensors market in 2023 with a share of over 35%, owing to high penetration of consumer electronics in countries like the US. Asia Pacific is expected to witness the fastest growth during the forecast period, expanding at a CAGR of 11.5%. This can be attributed to rising electronics manufacturing activity and increasing disposable incomes in developing countries of the region.
Key players operating in the light sensors market are Ams AG, Apple Inc., Broadcom Inc., Everlight Electronics Co. Ltd., Maxim Integrated Products Inc., ROHM Co. Ltd., Samsung Electronics Co. Ltd., Sharp Corporation (Foxconn Group), Sitronix Technology Corp., STMicroelectronics SA, Texas Instruments Incorporated, and Vishay Intertechnology Inc. These players are focusing on developing advanced optical sensors with improved features to enhance their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
