According to the market research report “Color Detection Sensors Market Analysis: by Type (Color Sensing, RGB Sensors, Brightness Sensors, Contrast Sensor); by Industry (Consumer Electronics, Food & Beverage, Packaging, Manufacturing, Automotive) - Forecast (2016-2021)”, published by IndustryARC, the color detection sensors market is estimated to reach $3.01 billion by 2021.
Browse 65 Market Tables, 127 figures spread through 240 Pages and an in-depth TOC on “Color Detection Sensors Market”
Color Detection Sensors use the inherent ability of differentiating objects by virtue of their colors. Each color is associated with a specific wavelength and these sensors analyze the wavelength of the light reflected from the surface of the object to identify its color. The color detection sensors form an integral component for the factory automation systems; wherein their low cost as compared to machine vision systems and image sensors makes them a preferred choice. The color detection sensors are also widely used in smart phones, laptops and other display devices for display control and monitor calibration.
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According to a recent study by IndustryARC, the global market for Color Detection Sensors is estimated to reach $3.01 billion by 2021, growing at a CAGR of 4.3%. The growing rate of industrial automation and the rising demand for smart electronics will contribute to the growth of this market in the forecast period. Smart electronics is one of the major segments where color sensors are installed. Smart electronics install color detection sensors for functions like backlighting adjustment, color temperature adjustment, contrast sensing among others. These sensors along with other sensors aid in complete automation of the appliance. The smart appliances segment, which was seen as a niche market segment, is expected to witness robust growth from 2016 to 2021. Beside other factors like increasing energy prices, changing lifestyles and preferences, the major factor driving the sales of smart electronics is the shifting focus of manufacturers from the low-profit, low-growth traditional electronics segment toward high-margin and revenue-oriented smart appliance segment. Companies such as Samsung and LG are likely to reap profits of first movers’ advantage.
However, digital signage segment will have the highest growth rate of around 5.4% through 2021 owing to the increased penetration of digital advertisement across geographic regions.
The Europe region was the market leader in Color Detection Sensors market in 2015 with approximately 32% of the total market size and is estimated to grow at a CAGR of 3.9% through 2016 to 2021. The fastest growing market however will be APAC; wherein the growing number of industries and also the increasing buying power of the consumers will drive the growth.
The major players in Color Detection Sensors market include:
- SICK AG
- Banner Engineering Corporation
- SensoPart Industriesensorik
- Rockwell Automation Inc.
- Hamamatsu Photonics K.K.
- Pepperl+Fuchs GmbH
- Omron Corporation
The major manufacturers in this market have utilized product launches, product developments, acquisitions, mergers and expansions to broaden their presence in the interconnected markets and enhance core competencies through additions to product portfolio as well as improving the existing product line. Moreover, mergers and acquisitions help them to reduce competition and ease their entry into new markets.
The report of Color detection Sensors market provides detailed analysis of different types of sensors, their uses and also the end user.
The Color Detection Sensors Market incorporates the various end users in the report-
- Consumer Electronics
- Food and Beverage
- Water Treatment
- Printing and Packaging
- Paper and Pulp
- Digital Signage
- Manufacturing and Others
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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