Market Insights
Market Research Future's report on the global optoelectronics market has revealed a CAG of 12% during the forecast period of 2017 to 2023. Optoelectronics are advanced technology which use optical to electrical transducers and are used extensively for a variety of rapidly growing end-user industries. The global optoelectronics market is expected to cross the USD 75 Bn mark by the end of 2023. Technological advancements of the various components of optoelectronics are key among the drivers which influence market growth.
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LED is an optoelectronic component which has been witnessing extensive use and have been undergoing considerable advancements. Moreover, increasing use of infrared components in consumer electronics, automotive and several others are expected to drive growth for the market. The rapid urbanization occurring across the globe, with a focus in emerging economies, have resulted in rise of disposable income which has in turn increased the demand for a wide variety of consumer electronics. Moreover rapid advancements in display technology offer the market ample opportunities for growth.
However, the global optoelectronics market is hindered by the comparative expense of adopting optoelectronics over conventional versions of the same.
Market Segmentation
Market Research Future has segmented the global optoelectronics market on the basis of component, light source, industry, and region, By component, the market is segmented into LED, infrared components, optocouplers, image sensors, photovoltaic cells, and laser diodes. LEDs are used extensively in consumer electronics. Photovoltaic cells carry huge promise as globally, there is a demand for renewable energy sources which do not rely on fossil fuels.
By light source, the market is segmented to include X-rays, infrared, ultraviolet, and visible light. By industry, the market is categorized into aerospace & defense, consumer electronics, telecommunication, automotive, healthcare, and others.
Geographical analysis of the market divides the global optoelectronics market into North America, Europe, Asia Pacific and the Rest of the World.
Key Players
Prominent players in the global optoelectronics market that have been profiled in MRFR's competitive analysis include Sony Corporation, Koninklijke Philips N.V., Osram Licht AG, OmniVision Technologies, Inc., Vishay Intertechnology, Inc., General Electric Company, ON Semiconductor, Cree, Inc., Samsung Electronics Co., Ltd., and Sharp Corporation. Other innovaters in the market are Rohm Co. Ltd., Toshiba Corporation, Texas Instruments, Taiwan Semiconductors, Dialight Corp, NXP Semiconductors, Finisar Corporation, Fairchild Semiconductor International, Inc., Panasonic Corporation, OSI Optoelectronics, Merck KGaA, Avago Technologies, Ltd., and Analog Devices
Regional Analysis
The Asia Pacific market accounts for the majority share of the global optoelectronics market and is expected to retain its position throughout the assessment period. There is a concentration of leading market players in the region which are actively innovating and investing in advancement of existing technology thus driving the market while creating avenues for growth. Moreover, the APAC region has established itself as a manufacturing hub for electronics. Semiconductors and other components are produced in majority in the APAC. Countries such as Japan, South Korea, and Taiwan lead market growth. Moreover, APAC has a tremendous population which is rapidly urbanizing and has increased purchasing power thus leading to an increasing demand for consumer electronics. Additionally, the growth of the regions automotive, and healthcare sector combined with a growing demand for technologically advanced healthcare technology and automotive technology are expected to cement the APACs position in the global optoelectronics market.
The North America is another significant region which is driving growth of the global optoelectronics market due to the reduced power consumption of optoelectronics and their durability which has encouraged various companies to deploy optoelectronics for use in various sectors.
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Latest Industry News
ProPhotonic has extended its laser diode range with new releases of cost effective red & IR laser diodes.
LightPath Technologies Inc. has revealed a large quantity of thermal imaging assemblies worth USD 455,000 is ready to ship on a monthly basis for a massive order from an OEM in the U.S.
TABLE OF CONTENTS
1 Executive Summary
2 The Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued…
LIST OF TABLES
Table 1 Global Optoelectronics Market: By Region, 2017-2023
Table 2 North America Optoelectronics Market: By Country, 2017-2023
Table 3 Europe Optoelectronics Market: By Country, 2017-2023
Table 4 Asia Pacific Optoelectronics Market: By Country, 2017-2023
Table 5 The Middle East & Africa Optoelectronics Market: By Country, 2017-2023
Continued…
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LIST OF FIGURES
FIGURE 1 Global Optoelectronics Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Optoelectronics Market
FIGURE 4 Value Chain Of Global Optoelectronics Market
FIGURE 5 Share Of Global Optoelectronics Market In 2017, By Country (In %)
Continued…
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