According to Stratistics MRC, the Global Optical Sensing Market is accounted for $1.20 billion in 2016 and is expected to reach $3.46 billion by 2023 growing at a CAGR of 16.3% during the forecast period. Expanding interest in R&D activities is the key factor fueling the market growth. However, increasing ventures to grow more reliable sensing devices and accessibility of less expensive non-optical sensors with lesser detecting capacities are hampering the market.

By industry, aerospace and defense segment is commanded the largest market share. This is because industry promptly embraces better sensors in its operations and is likewise helped by the expanded speculations through government budgetary assignments and different financial specialists. By geography, Asia-Pacific is estimated to grow at the maximum rate owing to the developing urbanization in the region and expanded spending to deploy enhanced sensing technologies to monitor the infrastructure in sectors such as utilities and oil & gas.

Some of the key players in Optical Sensing market include Stmicroelectronics N.V., AMS Ag, Rohm Semiconductor, Texas Instruments Inc., Alphasense, Oxsensis Ltd., Fairchild Semiconductor, Teledyne Dalsa Inc., Hamamatsu Photonics K.K., Vishay Intertechnology, Inc., RJC Enterprises, LLC, ABB and Analog Devices, Inc.

Applications Covered:
• Biochemical
• Temperature Sensing
• Biometric and Ambience
• Pressure and Strain Sensing
• Geological Survey
• Other Applications
o Flow sensing
o Partial discharge detection
o Radiation sensing

Methods Covered:
• Intrinsic
o Fiber Braggs Grating (FBG) Based
• Scattering Based
o Rayleigh Scattering
o Brillouin Scattering
o Raman Scattering
• Extrinsic
o Pyrometers
o Encoders
o Spectroscopy
o Laser Doppler Velocimetry
o Fabry–Perot Interferometers
o Optical Coherence Tomography

Industries Covered:
• Construction
• Utilities
• Medical
• Aerospace and Defense
• Consumer Electronics
• Oil and Gas
• Others Industries
o Transportation
o Marine
o Chemicals

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements