The growing popularity of wearable healthcare devices in developed economies is expected to boost revenue for the optical sensor market. According to reports, about 21% of U.S. adults wear a smartwatch or wearable fitness tracker daily; as a result, industry leaders are launching technically advanced products with optical sensor technology to meet the increasing demand for wearable healthcare devices. The optical sensor industry’s rising demand is fueled by the IoT system’s expansion. The increasing adoption of consumer electronics devices is driving up demand for optical sensors indirectly. The advent of smartphones with features such as 3D imaging, restore recognition, eye tracking, and so on paved the way for the adoption of optical sensors. The advantages of optical sensors, such as their lightweight, compact size, passive nature, and dynamic sensing range, help to keep the market’s growth rate in check.