(MENAFN- P&S Intelligence) The global light sensor market is predicted to grow at a significant CAGR in the coming years. The growing usage of consumer electronics, reduction of sensors, and rising demand for using renewable energy sources are the main factors influencing the need for light sensors. The development of smart homes, outdoor lighting, and the automotive industry are further factors that are expected to accelerate market expansion.
Modern manufacturing techniques, high-speed, low-cost electronic circuits, and novel signal processing techniques have all contributed to recent developments in sensor technology. Because of these recent advancements in the industry, technological products now have a higher level of dependability, quality, and economic efficiency.
Due to the rising demand for consumer devices, the ambient light sensing category is predicted to grow significantly. To satisfy a range of design requirements, light sensors have emerged as a crucial component of consumer electronics.
Furthermore, because smart gadgets are using it more frequently, ambient light sensing know-how is becoming more well-known. This is crucial because light detectors enable LCD and LED displays to be adjusted for brightness based on ambient light levels. Additionally, they conserve energy and provide customers with a sufficient level of screen brightness.
The emergence of smart cities is a major trend in the light sensor market. The lighting fixtures used in these cities would need to be energy-efficient, which is why sensors designed for ambient light detection would be integrated into them. In this manner, the lights will turn on or become brighter when it gets dark.
Similar to how natural light is abundant, artificial lights can either dim or turn off automatically when there is enough of it, saving electricity. The demand for light detecting devices will increase along with the growth of smart cities in nations like China, India, and Brazil.
The rising popularity of consumer electronics devices is one of the major reasons propelling the expansion of the light sensor market. The light must be sensed for tablets and smartphones to have automatic screen brightness management and several other capabilities.
Global smartphone sales reached 1.4 billion in 2019 and are expected to reach 1.6 billion by 2040, primarily due to an increase in millennials' and other younger generations' demand for such devices. Therefore, as the population grows, there will be a growing need for consumer electronics, which will further encourage the incorporation of light sensors.
Moreover, due to the region's expanding automotive market, expanding population, and rising consumer electronics demand, the APAC market dominated the global light sensor market. The demand for EVs is growing, especially in Japan and China, where the governments are providing considerable support for their uptake, and this is what is essentially driving the regional automotive sector.
There are several key players scattered along the value chain in a fragmented light sensor market. These players are Maxim Integrated Products Inc., Sharp Corporation, ams AG, STMicroelectronics N.V., ROHM Co. Ltd., Broadcom Inc., Texas Instruments Incorporated, Everlight Electronics Co. Ltd., and Panasonic Corporation.
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