Albany, NY, March 14, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Optical Position Sensors in Semiconductor Modules and Chips Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2023,” global optical position sensors in semiconductor modules and chips market was valued at USD 1,005.4 million in 2012, growing at a CAGR of 6.6% from 2012 to 2023 to account for USD 2,254.1 million in 2023.
Optical position sensors are primarily used to detect the position of the desired target. These sensors are efficient as they can detect the position without physically touching the object. The optical position sensors are being actively used in semiconductor modules and chips such as consumer electronics, automobiles, aircrafts and the medical devices.
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The major factor driving the growth in the market is the increasing demand of smart functionalities to be incorporated in consumer electronics products such as smart phones, televisions and smart watches among others. Moreover, the emerging concept of wearable medical devices for remote monitoring of patients is also aiding to the growth of the market. In addition, the change in government regulations in Europe and North America is creating the need for added safety in automobiles. The optical position sensors are being used to create collision alert systems for the passenger’s safety.
The optical position sensors are also being used in the concept of virtual reality tools such as virtual training. Research and experiments are being conducted over creating a virtual platform which will be used to train humans in future. The complete virtual reality system is expected to perform simple tasks such as spinal reflexes or simple manipulation programs.
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The market has been segmented into three categories: by types, applications and geography. By types, the multi-axial optical position sensors held the largest market share accounting to more that 45% in 2014. The dominance of this segment is attributed to the growing demand for commercial aircrafts in aerospace and defense industry.
Geographically, Asia Pacific held the highest market share. The growth of optical position sensors in semiconductor modules and chips in Asia Pacific region is attributed to the rising demand for smart electronics in developing economies like China and India.
Further, the key players have been profiled on the basis of their business segments, financial overview, recent developments and the competitive strategies used by them with respect to the optical position sensors in semiconductor modules and chips market.
Full Research Report on Optical Position Sensors Market
In addition, the report also profiles the key players in the market on the basis of company overview, financial overview, business segments, key developments and the business strategies adopted by them with respect to the optical position sensors market. . The major player profiles in the market include Sharp Corporation (Japan), First Sensor AG. (Germany), Micro-Epsilon (Germany), Hamamatsu Photonics K.K. (Japan), Opto Diode Corporation (U.S.), Sensata Technologies (U.S.), Panasonic Corporation (Japan), Melexis N.V. (Belgium), Siemens AG (Germany), Balluff GmbH (Germany).
The market estimates on the basis of technology, application for each region has been covered in this study. The market segmentations are as follows:
Optical Position Sensors in Semiconductor Modules and Chips Market: By Types
- One dimensional optical position sensors
- Two dimensional optical position sensors
- Multi-axial optical position sensors
Optical Position Sensors in Semiconductor Modules and Chips Market: By Application
- Aerospace & Defense
- Consumer Electronics
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Rest of the World
- South America
- Middle East
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research