The Global Optical Detector Market size accounted for USD 3,774 Million in 2021 and is projected to reach the value of USD 9,510 Million by 2030, with a significant CAGR of 11.3% from 2022 to 2030.

Optical detectors (also known as photodetectors) are electronic devices that capture optical energy and convert it into electrical energy that instruments can interpret and analyze. Our worldwide optical detector market forecast says that the growing application of these devices in numerous end-user industries is flourishing the industry demand. The growing adoption of smartphones and the rising popularity of smart electronic home appliances are some of the global optical detector market trends that are bolstering the market growth.

Optical Detector Market Growth Drivers:

• Increasing adoption of optical detectors in IoT devices
• Growing demand for ADAS in vehicles
• Surging application of optical detectors in medical applications

Optical Detector Market Restraints:

• Increasing substitutes of optical detectors
• High manufacturing cost of optical detectors

Optical Detector Market Opportunities:

• Robust demand from industry 4.0 for image and photoelectric sensors
• Deployment of fiber optics in aerospace and defense applications

Optical Detector Market Report Coverage:

Market	Optical Detector Market
Optical Detector Market Size 2021	USD 3,774 Million
Optical Detector Market Forecast 2030	USD 9,510 Million
Optical Detector Market CAGR During 2022 - 2030	11.3%
Optical Detector Market Analysis Period	2018 - 2030
Optical Detector Market Base Year	2021
Optical Detector Market Forecast Data	2022 - 2030
Segments Covered	By Type, By Sensor Type, By End-User, And By Geography
Optical Detector Market Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	ams-OSRAM AG, Excelitas Technologies Corp., Rohm Semiconductor, Hamamatsu Photonics K.K., Analog Devices Inc., STMicroelectronics, Vishay Intertechnology, Inc., Fotech, Leuze electronic GmbH + Co. KG, and Extrinsics Limited.
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Optical Detector Market Dynamics

The increasing application of these devices on the Internet of Technology (IoT) is one of the primary factors driving the optical detector market revenue. Two components are critical in the IoT system: communication networks and connected devices. Sensors and actuators are the most common examples of these devices. Another important factor driving the optical detector market value is the increasing demand of these devices in the automotive industry. Technological advancements in the automotive industry such as the advent of advanced driver assistance systems (ADAS) have helped the optical detectors market share to grow significantly. Optical detectors have numerous applications and use cases. Vehicles use optical sensors in the automotive industry to recognize signs, obstacles, and other things that drivers notice while driving or parking. In addition, these detectors are crucial in the development of driverless cars.

The increasing number of smartphone users is also bolstering the global optical detector market growth. Optical detectors and sensors are widely used in smartphones. Thus, the growing number of smartphone users across the world is directly proportional to the increased usage of optical detectors.

However, the increasing availability of optical detectors and sensors is one of the major restraints to the optical detector market growth. Furthermore, the high cost of manufacturing optical detectors may limit the market's growth. On the other hand, optical detectors have gained enormous traction in the electronics industry over the last few decades. They have evolved into ideal contact-less detectors and are increasingly being used in a wide range of industrial and consumer applications, including smartphones, automatic lamps, photoelectric sensors, and position sensors.

Optical Detector Market Segmentation

The global optical detector market is segmented based on type, sensor type, end-use, and region.

Optical Detector Market By Type

• Extrinsic
• Intrinsic

According to our optical detector industry analysis, the extrinsic segment held the largest market share in 2021 and is expected to continue to do so throughout the forecasted years 2022 to 2030. Extrinsic fiber optic sensors use a multimode optical fiber cable to transmit modulated light from a non-fiber optical sensor or an electronic sensor connected to an optical transmitter. Extrinsic sensors have the skill to reach places that would otherwise be inaccessible. One illustration is the measurement of temperature inside jet engines using a fiber to transmit radiation to a radiation pyrometer situated outside of the engine. Many extrinsic sensors can also be utilized to assess the inner temperature of electrical transformers, where the presence of tremendous electromagnetic fields makes other measurement system unfeasible.

Optical Detector Market By Sensor Type

• Photoelectric Sensor
• Image Sensor
• Ambient Light and Proximity Sensor
• Fiber Optic Sensor

Among them, the image sensor segment accumulated a considerable optical detector market share in 2021. One of the primary factors driving image sensor growth is the growing amount of cameras used in devices like smartphones and tablets. As camera features and image quality become more important in smartphones, growing demand for cameras in artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and autonomous vehicles are likely to generate significant growth opportunities for image sensor manufacturers. However, the fiber optic sensor segment is projected to witness the fastest growth rate in the coming years. Because of their small size and the fact that they do not involve electrical power for measurement, optical sensors are widely used in remote sensing.

Optical Detector Market By End-Use

• Automotive
• Consumer Electronics
• Industrial
• Medical
• Others

Based on our analysis, the consumer electronics segment will have the largest market share in 2021. The growing adoption of consumer electronics devices, particularly smartphones and smart tablets, is driving up demand for optical sensors indirectly. The emergence of smartphones with features such as eye-tracking, restore recognition, 3D imaging, and so on facilitated the adoption of optical sensors. However, the automotive and medical applications are expected to grow at a substantial rate throughout the forecast timeframe from 2022 to 2030.

Optical Detector Market Regional Overview

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa