Optoelectronics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Component (Light-Emitting Diode (LED), Laser Diode, Sensors, Optocouplers, Photovoltaic Cells, Others), By Material (Gallium Nitride, Gallium Arsenide, Gallium Phosphide, Silicon Germanium, Silicon Carbide, Indium Phosphide), By End-User (Automotive, Aerospace & Defense, Consumer Electr
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationOptoelectronics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Component (Light-Emitting Diode (LED), Laser Diode, Sensors, Optocouplers, Photovoltaic Cells, Others), By Material (Gallium Nitride, Gallium Arsenide, Gallium Phosphide, Silicon Germanium, Silicon Carbide, Indium Phosphide), By End-User (Automotive, Aerospace & Defense, Consumer Electr
The global optoelectronics market is expected to expand in the upcoming years as a result of rising demand for optical solutions in the healthcare and automotive industries, rising demand for smart consumer electronics devices, and rising demand for long-lasting and low-power consuming components. However, high initial manufacturing and fabrication costs are expected to stifle market growth. Because of the proliferation of IIoT platforms, advancements in Li-Fi technology, and innovations in optoelectronic devices, the market is expected to see enormous growth opportunities.
Optoelectronics is the technology for light-emitting as well as light-detecting devices. The technology is widely considered a sub-discipline of photonics, basically applying the physical science of light. Optoelectronics is quickly becoming a fast-emerging technology field that involves using electronic devices to source, detect, and control light. These devices can be a part of numerous applications, including automatic access control systems, military services, medical equipment, and telecommunications
Increased Demand for Miniaturized Electronic Devices is Fueling the Market Growth
The global optoelectronics market is escalating at a very high rate due to the growing demand for miniaturized semiconductor components such as ICs (Integrated Circuits). The consumer electronics industry is focusing on manufacturing miniaturized personal electronics using nanotechnology-based semiconductor chips, which have high efficiency and are less power-consuming. The semiconductor components manufactured from the photolithography equipment include ICs, semiconductor chips, sensors, and LED displays. Therefore, the growing demand for miniaturized electronic devices, is in turn anticipated to grow the adoption of high efficiency optoelectronics products for the forecast period.
Expansion of Semiconductor Industry is Driving the Market Growth
The emergence of advanced consumer products in the consumer electronics industry is expected to drive the global optoelectronics market during the forecast period. The transition of electronic goods from fully automated systems toward the emergence of a smart home that interconnects all the household devices to create a single controlling unit is expected to result in the high adoption of electronics products based on the light applications which, in turn, is expected to drive the growth of the global optoelectronics market.
Growing Strategic Partnerships are Driving the Market Growth
Strategic partnerships are happening in the market, shaping the optoelectronics market for the technologically developed population. Many companies operating in optoelectronics are undergoing partnerships to meet customer demands. For instance, in 2019, LITE-ON technology corporation, an optoelectronics components manufacturing company, signed a strategic partnership agreement with II-VI Incorporated, one of the lead manufacturers of optical materials and semiconductors in America. This partnership is expected to manufacture at high volume and commercialize packaged semiconductor lasers for capturing the mass market of light detection and ranging (LiDAR). Similarly, in 2021, Global Foundries, a semiconductor manufacturing company, improved and continued its strategic partnership with Raytheon, a commercial electronics manufacturing company, to develop a new gallium nitride on silicon.
Increasing Demand for Luxury and Ultra-Luxury Vehicles is Propelling the Market Growth
The increasing demand for luxury and ultra-luxury vehicles is expected to drive the growth of the optoelectronics market. Luxury vehicles refer to vehicles that provide comfort, luxury, and quality. The motivation to improve the safety and lighting of the vehicles and the continuous focus on the R&D activities is expected to lead to the growth of optoelectronics in luxury vehicles. Optoelectronics is used in new cars to automate the vehicle functions such as brake lights and headlights. As a result, increasing sales of luxury and ultra-luxury vehicles increase the demand for the optoelectronics market. According to FADA (Federation of Automobile Dealers Associations), a national body representing automobile dealers in India, in Dec 2021, retail luxury car sales increased by 19.7% due to high inventory and dealership growth with the OEMs. Therefore, the increasing sales of luxury and ultra-luxury vehicles drive the optoelectronics market.
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Market Segmentation
Company Profiles
General Electric Company, Panasonic Corporation, Samsung Electronics, Omnivision Technologies Inc., Sony Corporation, Hamamatsu Photonics K.K., Osram Licht AG, ON Semiconductor, Texas Instruments, Micropac Industries,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Component Material End-User Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
| Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia |
| Key Companies Profiled | General Electric Company, Panasonic Corporation, Samsung Electronics, Omnivision Technologies Inc., Sony Corporation, Hamamatsu Photonics K.K., Osram Licht AG, ON Semiconductor, Texas Instruments, Micropac Industries |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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