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Global Optical Sensors Market to Reach $24.8 Billion by 2022: Gaining Significant Amount of Capital in R&DDUBLIN, September 18, 2017 /PRNewswire/ -- The "Global Optical Sensors Market - By Sensor Type , Application, Geography, Trends, Forecast - 2017 - 2022" report has been added to Research and Markets' offering. The global optical sensors market was valued at USD 16.21 billion in 2016 and is expected to reach a value of USD 24.86 billion by the end of 2022, growing at a projected CAGR of 7.39% during the forecast period of 2017-2022. Optical sensors has gained significant amount of capital in R&D considering the advantages they provide as compared to traditional sensors. Considering the advantages of optical fibres, sensor arrays can help in cost reduction and increases flexibility. The market will grow at a steady pace during th forecast period. Advancement in mobile technology with new features and models is expected to change the market dynamics for optical sensors, and will further change the scenario for silicon technology. Companies are shifting their focus towards silicon technology to address the demand for power saving technology. The Asia-pacific holds the major share for sensor penetration due to increase in the growth of the sectors such as manufacturing, retail and automation. It is estimated that emerging economies is expected to be the major market for optical sensors in the near future. Companies Mentioned:
Key Topics Covered: Media Contact: Research and Markets
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