UV Sensor Market Poised to Grow by $ 2.69 bn Owing to the Increasing Investments in Global Smartphone Market | Technavio

The global UV sensor market size is poised to grow by USD 2.69 billion during 2020-2024, progressing at a CAGR of almost 23% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The global UV sensor market is driven by the increasing investments in global smartphone market. Major smartphone vendors such as Apple, Xiaomi, Vivo, Oppo, and Realme are investing in manufacturing facilities globally. The vendors are competing with each other to increase their market shares in developing countries, such as India, South Africa, and Brazil, where disposable income is increasing and consumers are upgrading their smartphones. For instance, n January 2020, Samsung announced that it would invest $500 million in setting up a smartphone display manufacturing plant on the outskirts of New Delhi, India. Thus, the increasing investments in the smartphone market by various vendors are likely to support the growth of the market in focus during the forecast period.

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Report Highlights:

• The major UV sensor market growth came from the industrial segment in 2019, and is expected to witness the fastest growth during the next five years.
• APAC was the largest UV sensor market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the growing number of manufacturing facilities and the increasing investment in process automation and smart production techniques.
• The global UV sensor market is fragmented. 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. are some of the major market participants. To help clients improve their market position, this UV sensor market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the UV sensor market 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Use of UV Sensors in Wearables will be a Key Market Trend

The growing use of UV sensors in wearables will be one of the major UV sensors market trends that will gain traction during the next few years. Consumers are increasingly adopting wearable devices as a functional addition to their lives. These devices monitor the daily activities and health of the individual and also enable connected communication. The integration of UV sensors in wearables devices helps in preventing sunburns and skin blemishes by sending alerts to the user when the UV levels go beyond danger limits. In addition to wearable devices, these sensors are also used in smartphones.

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UV sensor Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist UV sensor market growth during the next five years
• Estimation of the UV sensor market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the UV sensor market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of UV sensor market vendors

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Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Industrial - Market size and forecast 2019-2024
• Automotive - Market size and forecast 2019-2024
• Consumer electronics - Market size and forecast 2019-2024
• Medical - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by End-user

Customer landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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
• Vishay Intertechnology Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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