New York, US, March 22, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Ambient Light Sensor Market” Research Report: By Type, Applications, End-Users – Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 15.7 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 10.70% during the assessment timeframe.
Ambient Light Sensor Market Key Players
Eminent industry players profiled in the global ambient light sensor market report include
- OSRAM Opto Semiconductor (U.S.)
- Texas Instruments (U.S.)
- Rohm Semiconductor (Germany)
- ON Semiconductor (U.S.)
- Broadcom Limited (U.S.)
- Intersil (U.S.)
- Maxim Integrated (U.S.)
- Panasonic Corporation (Japan)
- ams AG (Germany)
- Vishay Semiconductor (U.S.)
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|Revenue forecast in 2030||USD 15.7 Billion|
|Growth Rate||CAGR 10.70% from 2022 to 2030|
|Key Market Opportunities||Increase in demand in smartphones and consumer electronics|
|Key Market Drivers||Huge growth due to its capability of high sustainability Cost-effective, Using natural lighting as light sensors detect the temperature|
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Ambient Light Sensor Market Drivers
Growing Adoption in Automotive Displays to Boost Market Growth
In luxurious cars, ambient lighting is in fact a standard and essential element. In order to increase market appeal, many automakers are beginning to equip entry-level automobiles with ambient lighting systems in addition to improved aesthetics. This is motivating market suppliers to provide a variety of goods in order to meet the escalating need from the auto industry.
Increasing Use of Electrical Applications to offer Robust Opportunities
Among the applications that are boosting demand for light sensor devices are smartphones, LED/LCD televisions, & laptops. Due to its power-saving characteristic, its use has increased in electrical applications like street lights, traffic signals, outdoor, & indoor light control in addition to electronic devices like smartphones, laptops, and wearables. By adjusting the light’s intensity and brightness in accordance with ambient light levels, ambient light sensors enable power savings. Also, the ability to turn on and off the lights automatically contributes to electricity savings. Electricity savings are made feasible by the sensors’ capacity to adjust the screen brightness automatically depending on how much ambient light these devices get. Moreover, government legislation governing energy efficiency promotes industry expansion.
Restraints and Challenges
Low Current Output to act as Market Restraint
The low current output along with the requirement for the external amplification circuit may act as market restraints over the forecast period.
Ambient Light Sensor Market Segmentation
The global ambient light sensor market is bifurcated based on application, mounting style, output type, and sensor type.
By sensor type, the Ambient Light Sensor Market is segmented into light to voltage, light to frequency, light to digital, and light to current.
By output type, digital will lead the market over the forecast period.
By mounting style, the Ambient Light Sensor Market is segmented into through-hole, SMD/SMT, and others.
By application, consumer electronics will domineer the market over the forecast period.
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The epidemic that the world has been experiencing has had an effect on the development and expansion of the market. Since production facilities are operating at reduced capacities, many businesses are transferring their business activities to remote workers. Lockdowns are being imposed by nations for an extended amount of time, which has affected supply networks. The market for ambient light sensors has also been negatively impacted by the decline in funding from many sources. The ability of organizations to solicit funding has been further weakened by their struggles to create earnings. As a result, the market for ambient light sensors is essentially at a halt. As the epidemic is finished, it is anticipated that the market share of ambient light sensors will rise.
Ambient Light Sensor Market Regional Analysis
North America to Head Ambient Light Sensor Market
The majority of the market for light sensors is in North America. This occurs as a result of the nation’s rapid adoption of new technologies relative to other regions. Also, the consumer electronics and automotive industries in North America have experienced rapid growth, which has accelerated the growth of the market in this area. Due to early adoption by a number of end-use industries, including lighting, automotive, healthcare, and medical devices, among others, North America grabbed a higher share of the global sales in 2019. Additionally, the Ambient Light Sensor Manufacturers Association’s (ALSA) presence raises manufacturer knowledge of ambient light sensor technology and is anticipated to positively influence regional Ambient Light Sensor Market growth over the next years.
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APAC to Have Favorable Growth in Ambient Light Sensor Market
APAC will be the second-largest leader. Due to the presence of significant manufacturers in this area and the rising need for consumer electronics. One of the greatest geographic markets for electrical goods is the Asia-Pacific area. The region has a substantial consumer electronics market. One of the main factors driving the market’s growth is the high prevalence of smartphones. As a result of the quick growth of end-user industries including electronics, automotive, and healthcare in growing economies like China, India, Taiwan, South Korea, and other developing nations, the need for ambient light sensors is anticipated to continue in the near future. The expansion is due to ambient light sensors becoming more and more common in smartphones & other consumer electronics items. Additionally, it is projected that over the course of the forecast period, growing demand for smart lighting systems in nations like China and India will propel regional market expansion. One of the major drivers of the growth of the light sensors market in the region is a rise in the adoption of handheld devices with built-in light sensors. Automobile manufacturers are adding additional sensors to low-cost automobiles as a result of rising consumer safety concerns in developing economies like India and the ASEAN nations. The need for light sensors is anticipated to increase as a result in the near future. Additionally, the increasing focus on implementing cutting-edge technologies like the IoT, facial recognition, & government regulations in emerging economies is encouraging the deployment of more light sensors, which is in turn accelerating the growth of the sector in the area.
March 2023- A few months ago, Garmin introduced the Venu Sq 2 chain as the Venu Sq series’ replacement. A bigger 1.41-inch AMOLED display, a new GPS sensor, a brand-new fourth Generation Optical Heart Rate Sensor, enhanced health and fitness functions, and a longer battery life are all included in the new edition. There is an ambient light sensor, a thermometer, and an accelerometer as well.
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