The market for ultraviolet (UV) sensors is expected to grow by USD 2.69 billion during 2020-2024, as the use of these sensors in wearables and the internet of things (IoT) accelerates, according to a new report from Technavio. The market is expected to progress at a CAGR of almost 23% during the forecast period.
A majority of demand for UV sensors came from the industrial segment in 2019. UV sensors are extensively used in industrial applications to detect heat and provide alerts and ensure the safety of the employees.
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The Technavio report provides a detailed analysis of the market by end-user (industrial, automotive, consumer electronics, medical, and others) and geography (APAC, North America, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Broadcom Inc., Davis Instruments Corp., LAPIS Semiconductor Co. Ltd., Panasonic Corp., Silicon Laboratories Inc., Skye Instruments Ltd., Solar Light Co. Inc., STMicroelectronics NV, Vernier Software & Technology LLC, and Vishay Intertechnology Inc.
Internet of Things (IoT) helps electronic devices connect to the Internet, which in turn, reduces the need for human intervention. To ensure the efficient performance of this technology and to aid in mobile sensing, devices connected to an IoT network use a number of sensors and actuators. In the coming years, IoT will find significance in several applications including wearable devices, smart homes, industrial automation, and automated cars. With the growth of the IoT industry, the demand for sensors will subsequently increase, fueling the growth of the UV sensor market, the Technavio report said.
The use of UV sensors in wearables will be one of the major trends that will gain traction in the UV sensor market during the next few years. UV sensors integrated into wearables is accelerating as consumers adopt these devices to monitor daily activities and health, and to enable connected communication. The integration of UV sensors in wearables devices will help in preventing sunburns and skin blemishes by alerting individuals when the UV levels go beyond danger limits. In addition to wearable devices, these sensors are also used in smartphones. One of the major smartphone manufacturer Samsung has already equipped its Galaxy Note 4 UV sensor. Incorporated with Samsung's S Health app, the sensor measures UV radiation and prevents users from damaging their skin, which helps in reducing the risk of skin cancer. The UV sensor market will register a CAGR of almost 23% by 2024.
According to the Technavio report, Asia Pacific or APAC was the largest UV sensor market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period.
Factors for growth in the APAC region include expansion of manufacturing facilities and the investment in process automation and smart production techniques such as productivity and product tracking.
During the forecast period, 38% of the market’s growth will originate from APAC. China and Japan are the key markets for UV sensors in APAC. Market growth in this region will be faster than the growth of the market in other regions.
