NEWARK, Del, Aug. 15, 2022 (GLOBE NEWSWIRE) -- The global UV sensors market is estimated to reach a valuation of US$ 150.0 Mn by the end of 2022. The market is projected to reach US$ 480.0 Mn in 2032 and grow at a stellar CAGR of 12.3% during the forecast period of 2022 to 2032. Advantages like dependability and high precision promote the usage of UV sensors in multiple industry verticals like packaging, pharmaceuticals, and others.
The packaging industry utilizes UV sensors to identify the presence of plastic tamper-proof seals, labels, medicines, and other packing materials. This will presumably present the market with many attractive opportunities.
Increasing usage of UV sensors in the biopharmaceutical and pharmaceutical industries to evaluate UV radiation exposure in laboratories and various environmental conditions is promoting the global market growth.
The sales of UV sensors are further propelled due to their increasing demand from the chemical, consumer electronics, medical, automotive, health care, food and beverage, and other industries. Additionally, the growing use of photoelectric sensors and machine vision systems because of benefits like high accuracy and reliability is likely to boost the UV sensor market growth.
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Moreover, the advancing packaging sector leverages UV sensors to detect labels, pills, plastic tamper-proof seals, and other materials which is stimulating the sales of UV sensors. Increasing applications of UV sensors in automotive, furniture making, and textile sectors among others also drive the growth of the UV sensors market. However, the existence of counterfeit UV sensors due to a fragmented international market might hamper market growth.
“Growing application of UV sensors in various industry verticals for different purposes will augment the market growth of UV sensors over the forecast period,” says an FMI analyst.
Key Takeaways:
- UV sensor market to grow at a high CAGR of 12%.
- Rising investment in the smart phone market to boost future prospects.
- Existence of counterfeit UV sensors impedes market growth.
- North America is predicted to lead market growth by accounting for 30% of market share.
- Europe is the second largest market with 21.1% market share.
- Based on type, UV phototube sensor will dominate the market.
Competitive Landscape
STMicroelectronics, Apogee Instruments, Inc., Broadcom, Davis Instruments, Panasonic, LAPIS Semiconductor Co., Ltd., Solar Light Company, Inc., Silicon Laboratories, Vernier Software & Technology, LLC, and Shade among others are some of the major players in the UV sensors market that are profiled in the full version of the report.
Leading players have consolidated the market to bolster their overall company revenue. These businesses in the market are supported by the growing investment in the smartphone market. The market players employ strategic tactics like mergers, acquisitions, and partnerships to improve their market penetration. They are also focused on product development and launches to acquire a major share of the market.
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More Insights into the UV Sensors Market Report
In its latest report, FMI offers an unbiased analysis of the global UV sensors market, providing historical data from 2016 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on type (UV phototubes, light sensors, UV spectrum sensors), end-user (pharmaceutical, automotive, medical & health care, consumer electronics, chemical, food & beverage, others), and region.
According to the latest FMI reports, based on regional growth, North America’s UV sensors market is anticipated to exhibit market domination by accounting for 30% of the global market share. This growth is attributed to constant investments in industrial automation as well as the advancing pharmaceutical sector of the region.
The UV sensors market in Europe is the second largest market, following quickly after North America. The target market in Europe is expected to hold 21.1% of the total market share over the forecast period. Various manufacturing companies in Europe are contributing to the market expansion. Additionally, increasing adoption of UV sensors in the extensive food and beverage sector of the region fuels the market growth. The U.K. UV sensor market is growing at a faster rate compared to the other European countries. The growth is prompted by the immense food & beverage sector of the U.K.
As per the latest study by FMI, based on segmentation, the UV phototube sensor segment is dominating the market over the assessment period. This is due to the growing usage of UV phototube sensors for laser measurement, optical lithography, chemical analysis, and medical analysis.
Recent Development in the UV Sensors Market are
- Recently, space astronomy along with solar research innovated UV photodetectors. This sensor comes up with high technology, better performance and lifetime stability.
- Broadcom Inc. - The company offers ultraviolet (UV) sensor namely, APDS-9200, AFBR-S20W2UV, AFBR-S20M2UV, AFBR-S20M2WU, and others.
- In August 2019, Huawei Technologies revealed plans to invest an estimated $800 million in the construction of a smartphone manufacturing facility in Sao Paulo, Brazil.
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Key Segments
By Type:
- UV phototubes
- Light sensors
- UV spectrum sensors
By End User:
- Pharmaceutical
- Automotive
- Medical & Health Care
- Consumer Electronics
- Chemical
- Food & Beverages
- Others
By Regions:
- North America
- Europe
- Asia-Pacific
- Latin America
- MEA
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
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