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Ambient Light Sensing Category to Hold Largest Share in Light Sensor Market till 2030
Valued at $1,456.2 million in 2019, the global light sensor market is predicted to witness a CAGR of 9.5% during the forecast period (2020–2030). The major factors driving the growth of the industry are the expansion of the automotive sector and rising demand for consumer electronics.
Segmentation Analysis of Light Sensor Market
The ambient light sensing category, under segmentation by function, is projected to lead the light sensor market till 2030. This is attributed to the increasing adoption of light sensors in smartphones, particularly for the automatic display control feature.
During the forecast period, the digital bifurcation would experience faster growth in the light sensor market, based on output, owing to the rising procurement of such devices by companies in the consumer electronics, automotive, and healthcare sectors. In addition to this, the demand for advanced driver assistance systems (ADAS) in automobiles is increasing, which is further driving the advance of this bifurcation.
The combination bifurcation, on the basis of integration, held larger share in the light sensor market in 2019. This is because of the growing focus on the development of sensors which have the attributes of multiple sensor types. Moreover, combination sensors are compatible with internet of things (IoT) devices; thus, with the rising integration of IoT in various sectors, the demand for combination sensors would also surge.
The automotive classification, under the end use segment, is expected to display the highest CAGR in the light sensor market, over the forecast period, as a result of the rising integration of ADAS in automobiles, which needs to sense the light, for park assist and numerous other processes.
Asia-Pacific (APAC) dominated the light sensor market during the historical period (2014–2019), on account of the growing automobile industry, booming population, and escalating demand for consumer electronics. The regional automotive sector is mainly driven by the increasing preference for electric vehicles (EV), primarily in China and Japan, where the governments are offering strong support for their uptake. For instance, the Chinese government started offering a $10,000 subsidy per vehicle in 2017, after which the sale of EVs skyrocketed in the country. Light sensing is important for interior lighting control and parking assistance systems, which is why the rising EV sales are driving the market for these devices in the region.
Establishment of Smart Cities is an Important Trend in Market
A key trend in the light sensor market is the rising establishment of smart cities. The lights installed in such cities will have to be energy efficient, which is why they would be integrated with sensors, specifically for ambient light sensing. This way, when it gets dark, the lights will switch on or increase in brightness. Similarly, when ample natural light is available, the artificial lights will either decrease their brightness or automatically switch off, thereby conserving electricity. With the increasing construction of smart cities in countries including India, China, and Brazil, the demand for light sensing devices will also surge. For instance, China aims to create 100 cities by 2020 end, while, in 2018, the Malaysian and South Korean governments signed an agreement to establish a smart city in Kota Kinabalu, Malaysia.
|Market Size by Segments||Function, Output, Integration, End User|
|Market Size of Geographies||U.S., Canada, Germany, U.K., France, Italy, Spain, China, Japan, South Korea, India, Brazil, Mexico, Argentina, Turkey, Saudi Arabia, South Africa, U.A.E., Nigeria|
|Market Players||ams AG, Vishay Intertechnology Inc., STMicroelectronics N.V., Sharp Corporation, Texas Instruments Incorporated, Broadcom Inc., Everlight Electronics Co. Ltd., Maxim Integrated Products Inc., ROHM Co. Ltd., Panasonic Corporation|
Rising Uptake of Consumer Electronics is Driving Market
One of the most important factors driving the growth of the light sensor market is the increasing popularity of consumer electronic devices. Automatic screen brightness control and several other features in tablets and smartphones require the light to be sensed. In 2019, 1.4 billion smartphones were shipped around the globe, and by 2040, this number is projected to rise to 1.6 billion, primarily fueled by the increasing demand for such devices from young people, especially the millennials. Thus, with a boom in the population, the requirement for consumer electronics will increase, which would further drive the integration of light sensors.
Product Launches are Most Important Strategic Measure in Market
In the past few years, light sensor market players have introduced a number of products, in a bid to expand their portfolio and gain a wider customer base.
For instance, in January 2020, AS7350, which is an advanced spectral ambient light sensor, was introduced by ams AG. The device is designed for high-end smartphones, as it is capable of offering accurate light source identification and efficiently balancing the white point in all lighting conditions.
Similarly, in October 2019, ams AG unveiled the TCS3408 color sensor, which measures the brightness and color of ambient light. In addition to this, it can also detect photometric flicker, which helps in reducing the flawed artifacts caused by artificial lighting.
The major players in the global light sensor market are ams AG, Vishay Intertechnology Inc., STMicroelectronics N.V., Sharp Corporation, Texas Instruments Incorporated, Broadcom Inc., Everlight Electronics Co. Ltd., Maxim Integrated Products Inc., ROHM Co. Ltd., and Panasonic Corporation.
Light Sensor Market Size Breakdown by Segment
The light sensor market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Function
Based on Output
Based on Integration
Based on End User