SAN FRANCISCO, June 27, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Optical Sensors – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What’s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
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- Access to our digital archives and MarketGlass Research Platform
- Complimentary updates for one year
Edition: 8; Released: January 2022
Executive Pool: 461
Companies: 43 – Players covered include ABB Ltd.; Alphasense Ltd.; ams AG; Analog Devices, Inc.; Fairchild Semiconductor International Inc.; Fotech Solutions Ltd.; Hamamatsu Photonics KK; OptaSense; Oxsensis Ltd.; Rjc Enterprises, LLC.; Rohm Semiconductors; Silixa Ltd.; STMicroelectronics; Teledyne DALSA, Inc.; Texas Instruments, Inc.; Vishay Intertechnology, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Industry (Aerospace & Defense, Utilities, Oil & Gas, Medical, Construction, Consumer Electronics, Other Industries)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Optical Sensors Market to Reach $3.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Optical Sensors estimated at US$1.4 Billion, is projected to reach a revised size of US$3.2 Billion by 2026, growing at a CAGR of 14.4% over the analysis period. Aerospace & Defense, one of the segments analyzed in the report, is projected to record a 17% CAGR and reach US$1.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Utilities segment is readjusted to a revised 14.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $432 Million in 2021, While China is Forecast to Reach $710.1 Million by 2026
The Optical Sensors market in the U.S. is estimated at US$432 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$710.1 Million by the year 2026 trailing a CAGR of 19.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10% and 12.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.4% CAGR.
Oil & Gas Segment to Reach US$366.9 Million by the year 2026
In the global Oil & Gas segment, USA, Canada, Japan, China and Europe will drive the 14.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$116.8 Million will reach a projected size of US$297.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Global Industry Analysts, Inc.
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SOURCE Global Industry Analysts, Inc.