Global Optoelectronics Market - Segmented by Component Type (Photo Voltaic (PV) Cells, Optocouplers, Image sensors), Application (Aerospace and Defense, Automotive, Consumer Electronics), and Region - Growth, Trends, and Forecast (2022 - 2030)
The optoelectronics market is expected to grow at a CAGR of 10.25% over the forecast period (2018-2023). The scope of the report includes insights on the solutions offered by major players, including providers of hardware, professional services, and integration solutions. The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also emphasizes various end-user-based applications, such as information technology, healthcare, residential & commercial, industrial, etc. The component-based segmentation is for light emitting diodes (LED), laser diode (LD), photo voltaic (PV) cells, and others.
Photo Voltaic Cell Demand is Increasing Due to Global Stress for Renewable Energy
Owing to the increasing focus on environmental protection and green energy sources, most of the investments in the optoelectronics industry have been driven towards photovoltaic cells. Governments around the world have been offering incentives to both companies and users, encouraging the consumption of solar power, thus supporting the growth of the technology in the market. In the Asia-Pacific region, countries such as China and India are aggressively opting for projects supporting the installment of solar power. This is indirectly driving the optoelectronics market. The International Energy Agency (IEA) suggests that rapid deployment of solar photovoltaics (PV), led by China and India, is helping solar power become the largest source of low-carbon capacity by 2040, by which time the share of all renewables in total power generation is expected to reach 40%.
Asia-Pacific is Emerging as the Market with Potential for High Growth
The increasing spending from the consumers in Asia-Pacific is helping the optoelectronics-based products demand. The developments in display technology and increased demand for consumer electronics such as smartphones, display devices, digital imaging devices, and photovoltaic cells have helped Asia-Pacific take lead in the growth for optoelectronics demand.
As per the estimates of IEA, during 2010-2016, average annual net capacity addition of solar power was 39 GW, which is expected to reach an annual net average of 74 GW for the period of 2017-2040. India installed 5.5 GW solar power in 2016-2017, whereas China installed approximately 34 GW during the same period. Both the countries have ambitious targets for the projected period. The demand for consumer goods with optoelectronics in their core has also been on the rise, and China is leading surveillance-based demand.
Key Developments in the Market
• March 2018 - Samsung enhances chip-scale LED package lineup with industry’s highest luminous efficacies.
• March 2018 - Samsung Electronics launched its flagship line of 2018 QLED TVs and AV products at the 2018 First Look New York event at the American Stock Exchange building in Manhattan.
The major players include - TOSHIBA CORP, OMNIVISON TECHNOLOGIES INC., OSRAM LICHT AG, GENERAL ELECTRIC COMPANY, ON SEMICONDUCTORS CORP, CREE INC., SONY CORPORATION, FINISAR CORP, SAMSUNG ELECTRONICS LTD, PANASONIC CORPORATION, AVAGO TECHNOLOGIES LTD, FINISAR CORPORATION, ROHM LTD, SHARP CORP, PHILIPS, and MITSUBISHI ELECTRIC LTD, amongst others.
Reasons to Purchase the Report
• Current and future global optoelectronics market analysis
• Performance of various segments in the market
• Analyzing different perspectives of the market with the help of Porter’s five forces analysis
• Segments and sub-segments expected to dominate the market
• Regions expected to witness expedited growth during the forecast period
• Latest developments, market shares, and strategies employed by the major market players
• 3 month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Photo Voltaic Cell Demand is Increasing Due to Global Stress for Renewable Energy
Owing to the increasing focus on environmental protection and green energy sources, most of the investments in the optoelectronics industry have been driven towards photovoltaic cells. Governments around the world have been offering incentives to both companies and users, encouraging the consumption of solar power, thus supporting the growth of the technology in the market. In the Asia-Pacific region, countries such as China and India are aggressively opting for projects supporting the installment of solar power. This is indirectly driving the optoelectronics market. The International Energy Agency (IEA) suggests that rapid deployment of solar photovoltaics (PV), led by China and India, is helping solar power become the largest source of low-carbon capacity by 2040, by which time the share of all renewables in total power generation is expected to reach 40%.
Asia-Pacific is Emerging as the Market with Potential for High Growth
The increasing spending from the consumers in Asia-Pacific is helping the optoelectronics-based products demand. The developments in display technology and increased demand for consumer electronics such as smartphones, display devices, digital imaging devices, and photovoltaic cells have helped Asia-Pacific take lead in the growth for optoelectronics demand.
As per the estimates of IEA, during 2010-2016, average annual net capacity addition of solar power was 39 GW, which is expected to reach an annual net average of 74 GW for the period of 2017-2040. India installed 5.5 GW solar power in 2016-2017, whereas China installed approximately 34 GW during the same period. Both the countries have ambitious targets for the projected period. The demand for consumer goods with optoelectronics in their core has also been on the rise, and China is leading surveillance-based demand.
Key Developments in the Market
• March 2018 - Samsung enhances chip-scale LED package lineup with industry’s highest luminous efficacies.
• March 2018 - Samsung Electronics launched its flagship line of 2018 QLED TVs and AV products at the 2018 First Look New York event at the American Stock Exchange building in Manhattan.
The major players include - TOSHIBA CORP, OMNIVISON TECHNOLOGIES INC., OSRAM LICHT AG, GENERAL ELECTRIC COMPANY, ON SEMICONDUCTORS CORP, CREE INC., SONY CORPORATION, FINISAR CORP, SAMSUNG ELECTRONICS LTD, PANASONIC CORPORATION, AVAGO TECHNOLOGIES LTD, FINISAR CORPORATION, ROHM LTD, SHARP CORP, PHILIPS, and MITSUBISHI ELECTRIC LTD, amongst others.
Reasons to Purchase the Report
• Current and future global optoelectronics market analysis
• Performance of various segments in the market
• Analyzing different perspectives of the market with the help of Porter’s five forces analysis
• Segments and sub-segments expected to dominate the market
• Regions expected to witness expedited growth during the forecast period
• Latest developments, market shares, and strategies employed by the major market players
• 3 month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Please Select a Format
