Optical Sensor Market Is Likely To Garner Revenue Of Us$ 53.2 Bn At A Steady Cagr Of 8.3% By The Year 2031-end: Transparency Market Research, Inc.

The global optical sensor market is projected to flourish at a CAGR of 8.3% from 2022 to 2031, with a valuation of US$ 53.2 billion anticipated for the market in 2031. The market is driven by the increasing application of optical sensors across industries such as consumer electronics, aerospace & defense, automotive, healthcare, oil & gas, food & beverage, and media & entertainment due to its prominent features such as contactless installation, high spatial resolution, and relatively easier detection. The automotive industry relies on optical sensors for applications like advanced driver-assistance systems (ADAS), lane departure warning, collision avoidance, and autonomous driving technology.