The Global Optoelectronic Components Market size is projected to grow from an estimated USD 111.2 billion in 2020 to USD XXX.X billion by 2028, at a CAGR of 6.6% during the forecast period 2021-2028. The growth can be attributed to the rising demand for LED and image sensor products across various end-user applications such as residential & commercial, automotive, consumer electronics, telecommunication, industrial, and healthcare sectors among others due to their efficiency and cost-effectiveness over conventional light sources such as incandescent lamps or fluorescent lamps, etc., coupled with technological advancements leading towards the development of more efficient optical devices which are capable of delivering better performance than existing technologies available in this market.
Optoelectronic components are the electronic components that use light-emitting diodes (LED) or lasers to optically communicate information. These electronic devices use optical properties to detect, receive and emit light. Optoelectronics is the study of photonics or optics within electrical engineering using quantum mechanics. This type of technology enables faster data transfers with less heat dissipation over traditional metal wires due to their ability to transfer high bandwidth signals in parallel while keeping signal integrity intact without interference across multiple channels.
On the basis of Type, the global optoelectronic components market is segmented into LED, Image Sensor, Infrared Component, Optocouplers, and Laser Diode.
The most common optoelectronic device is an LED, which emits visible light when a current passes through it. LEDs can be used as indicator lamps in many devices and appliances such as clocks, radios, stereos, and computers. They have also been used for lighting since they consume less energy than incandescent bulbs. In addition to emitting visible light photons from semiconductor materials across various parts of the electromagnetic spectrum including infrared radiation).
Image sensors are devices that convert a visual image into an electrical signal. A digital camera uses a large number of tiny sensors to determine the color and brightness of each pixel in order to create its picture. The most common type is called a charge-coupled device (CCD), which captures light on special pixels containing capacitors, with each pixel storing electric charge proportional to the intensity of light falling upon it. These are used in all digital cameras and webcams, automotive safety systems such as adaptive cruise control and automatic parking assistance, etc. Image sensors include CMOS image sensor & CCD (charge-coupled device) image sensor.
The infrared component is an optoelectronic device that emits and detects light within the infrared range of wavelengths. They can be used to measure temperature, distance, or velocity as well as proximity and position. This type of optoelectronic component can provide several benefits to end-users. For one, it is smaller and faster than conventional infrared sensors which allow for a wider range of product applications such as security cameras, home appliances, traffic management systems, and more. In addition, the performance of this device has been improved significantly in recent years due to advances in microelectronics technology that have allowed manufacturers to develop very small components with greater power efficiency.
Optocouplers is an electronic component designed to provide electrical isolation between two circuits using optical coupling through fiber optics or clear plastic; no direct connection exists anywhere within the component other than electromagnetic induction occurring inside a chip; it is usually used to protect circuits from overload or high voltage spikes. The optocoupler is used in a wide range of applications including line isolation, logic control, and signal conditioning.
The laser diode type of optoelectronic components refers to the Laser Diodes which are semiconductor devices that emit light. There are two types of lasers, i.e., VCSEL (Vertical-Cavity Surface-Emitting Lasers) and edge emitter (also called edge-emitting laser). These products use LEDs as an input source for modulated signals like a radiofrequency or direct current signal. The output beams don’t require any lens because they propagate due to the total internal reflection in high index materials such as gallium arsenide or silicon carbide.
On the basis of Application, the global optoelectronic components market is segmented into Residential & Commercial, Automotive, Consumer Electronics, Telecommunication, Industrial Healthcare Aerospace & Defense, and Others.
On the basis of Region, the global optoelectronic components market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Optoelectronic components are widely used in the North American region as compared to other parts of the world. The North American region is projected to be one of the largest markets in 2017 and would maintain its dominance throughout the forecast period. The optoelectronic components market in Latin America is projected to grow at a CAGR of 16.87% during the forecast period, driven by factors such as increasing demand for miniaturization and high-performance systems, a growing number of smart cities across countries, rising applications in the automotive sector utilizing light detection & ranging (LiDAR) technology, and increasing penetration of smartphones in Latin America. The market for optoelectronic components in Europe is growing at a significant rate and it will continue to do so. The Asia Pacific is expected to be the most lucrative market for optoelectronic components over the next five years. The market has been divided into three segments, namely type of component, application, and regions which are further sub-divided in terms of value and volume.
Growth in the global LED market is expected to drive growth in the optoelectronic components market. The growth of the consumer electronics industry, The demand for more efficient and eco-friendly lighting, and the growing demand for automotive lighting are key factors driving the global optoelectronic components market. The growth factors are attributed to the growing demand for higher-speed communication, improving the economy, and supportive government policies. Furthermore, an increase in global broadband penetration is also expected to contribute to market growth.
Up Market Research published a new report titled “Optoelectronic Components Sales Market research report which is segmented by Types (LED, Image Sensor, Infrared Component, Optocouplers, Laser Diode), By Applications (Residential & Commercial, Automotive, Consumer electronics, Telecommunication, Industrial, Healthcare, Aerospace & defense, Others), By Players/Companies Nichia, Osram, Samsung, Lumileds, Cree, Seoul Semiconductor, Everlight, LG Innoteck, Epister, Liteon, Avago, Vishay, ON Semiconductor, Renesas Electronics, MLS Lighting, IPG, Coherent, Jenoptik”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Optoelectronic Components Sales Market Research Report |
By Type | LED, Image Sensor, Infrared Component, Optocouplers, Laser Diode |
By Application | Residential & Commercial, Automotive, Consumer electronics, Telecommunication, Industrial, Healthcare, Aerospace & defense, Others |
By Companies | Nichia, Osram, Samsung, Lumileds, Cree, Seoul Semiconductor, Everlight, LG Innoteck, Epister, Liteon, Avago, Vishay, ON Semiconductor, Renesas Electronics, MLS Lighting, IPG, Coherent, Jenoptik |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 240 |
Number of Tables & Figures | 168 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type LED, Image Sensor, Infrared Component, Optocouplers, Laser Diode and By Application Residential & Commercial, Automotive, Consumer electronics, Telecommunication, Industrial, Healthcare, Aerospace & defense, Others.
Some of the companies that are profiled in this report are:
Optoelectronic Components Sales Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Optoelectronic Components Sales Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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