Light Sensor Market

Light Sensor Market Projected to Reach US$ 2,435.9 Mn by 2027
According to a new market research report pertaining to the light sensor market,
published by Transparency Market Research the global light sensor market is expected
to reach value of US$ 2,435.9 Mn by 2027, expanding at a CAGR of 8.2% from 2019
to 2027. According to the report, the market would continue to be influenced by a
range of macroeconomic and market-specific factors. In terms of demand, Asia Pacific
would continue to lead the global market, with the market in the region expanding
at a CAGR of 9.4% from 2019 to 2027. China, India, Japan, and South Korea are
anticipated to be major contributors to the light sensor market in Asia Pacific during
the forecast period.
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Rising adoption of smart home technology driving the global light sensor market
Light sensors convert light input into the corresponding electric output. Light sensors
are used in different types of end-use applications such as automatic brightness
control in electronic devices, automatic street lighting, signal control system, and
smart home devices. Use of light sensors helps in minimizing the power consumption
of devices. The light sensors market is recently gaining traction, due to increasing
demand for consumer electronics products such as mobile phones, tablets, smart
watches, and televisions worldwide. Moreover, smart home devices are increasingly
adopting light sensors. This is likely to fuel the global light sensor market in the next
few years. Across the globe, light sensor manufacturers are increasing their
investments in the light sensor market in order to meet the increasing demand from
various industry verticals such as consumer electronics, smart homes, automotive,
health care, agriculture, and transportation.
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Global Light Sensor Market: Scope of Report
The global light sensor market has been broadly segmented in terms of type,
application, end-use industry, and geography. Based on type, the global light sensor
market has been segmented into photo conductive cells, photo voltaic cells, and
photo junction diodes. In terms of revenue, the photo conductive cells segment
accounted for a major market share of more than 40% in 2018. The segment is
anticipated to expand at a CAGR of 9.0% during the forecast period. In order to
fulfill the global demand, various manufacturers of light sensors are focusing on
research and development activities on a regular basis in order to find advanced
applications of light sensors. Light sensors are used in different types of power- and
energy-saving applications as well as energy conservation solutions. Increasing
population and rising demand for smart electronics devices are expected to propel the
demand for light sensors during the forecast period. Light sensors are cost effective
and easy to operate. They have low maintenance costs.
Based on application, the light sensor market has been segregated into placement
detection, brightness control, security, planning & agriculture, and others. In terms of
revenue, the brightness control segment held the maximum market share in 2017. In
addition to this, in terms of both value and volume, the brightness control segment
is expected to expand at the maximum CAGR during the forecast period. Based on
end-use industry, the light sensor market has been classified into consumer
electronics, automotive, aerospace & defense, energy & power, healthcare,
transportation, and others. In terms of revenue, the consumer electronics segment
accounted for a major market share of more than 30.0% in 2018 and it is anticipated
to expand at a CAGR of 8.9% during the forecast period.

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