The Optical Position Sensor Global Market Report 2023, provides comprehensive information on the optical position sensor market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Optical Position Sensor Global Market Report 2023, the market size is expected to grow from $1.98 billion in 2022 to $2.21 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global optical position sensor market size is expected to reach $3.26 billion in 2027 at a CAGR of 10.2%.
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Technological advancements are a key trend gaining popularity in the optical position sensor market. Major market players are concentrating their efforts on creating new sensor technologies to sustain their position in the market. For instance, in June 2021, NEC Corporation, a Japan-based provider of information technology solutions in telecommunications and related software and services, launched NEC Intelligent Optical Fiber Sensing Solution. It is a solution that allows communications service providers (CSP) and optical fiber owners to utilize optical fiber as a sensor. It utilizes NEC’s optical fiber sensing technology involves the use of AI to analyze vibrations detected by optical fibers. This facilitates the identification of anomalies like fiber damage and assists in averting future damages.
The optical position sensor market is segmented:
1) By Type: One-Dimensional Optical Position Sensors, Two-Dimensional Optical Position Sensors, Multi Axial Optical Position Sensor
2) By Application: Machine Tools, Robotic Systems, Hydraulic Cylinders, Range Finders, Autofocus Cameras, Medical Equipment, Other Applications
3) By End-Use Industry: Aerospace And Defense, Automotive And Transportation, Consumer Electronics, Healthcare, Industrial, Energy And Utility, Other End-Use Industries
Asia-Pacific was the largest region in the optical position sensor market in 2022.
The table of contents in TBRC’s optical position sensor market report includes:
1. Executive Summary
2. Optical Position Sensor Market Characteristics
3. Optical Position Sensor Market Trends And Strategies
4. Optical Position Sensor Market – Macro Economic Scenario
5. Optical Position Sensor Market Segmentation
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26. Africa Optical Position Sensor Market
27. Optical Position Sensor Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Optical Position Sensor Market
29. Optical Position Sensor Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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