“Global Optical Position Sensors in Semiconductor Modules and Chips Market (By Types - One Dimensional, Two Dimensional and Multi-axial. By Application - Aerospace & Defense, Automotive, Consumer Electronics, Healthcare, Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2025”, in terms of revenue, the Optical position sensors in semiconductor modules and chips market was valued at US$ 1.27 Billion in 2016, and is expected to reach US$ 2.63 Billion by 2025, expected to grow at a CAGR of 8.4% from 2017 to 2025.
Optical position sensor is the modern technology of the sensor system. The optical position sensors are often used to detect the position of the required target. These types of sensors are highly efficient and can detect the position without any physical contact with the object. The optical position sensors are widely used in semiconductor modules and chips such as in automobiles, consumer electronics, medical devices and aircrafts. The major factor enhancing the growth of optical position sensors is due to the increasing adoption in automotive systems. In automotive industry, the optical position sensors are used to sense the position of pedals, steering wheels, various valves, seat position and actuators. The optical position sensors are advanced technically and assist indetermining the position of optical reflection and wiper arm potentiometers. Moreover, the optical position sensor is also being used to sense the driver in case of an accident and according to that release the airbags of the vehicle. Further down, the rise in demand for smart functionalities in smart gadgets are driving the growth of the market for optical position sensors. These factors are assumed to augment the market growth for optical position sensor during the forecast period of 2016-2025.