Key Market Insights
Rising Adoption of Light Technology across Various Sectors predicted to uplift the demand of Optoelectronics Devices Globally
The global optoelectronics market was stood at US$ 4.57 Bn in the year 2018 and expected to reach US$ 11.84 Bn by the year 2027, expanding at a CAGR of 11.2% during the forecast from 2019 to 2027.
Significant disruptions in electronic devices over the recent past along with the rising trend of renewable energy sources has triggered the growth of optoelectronics market. Optoelectronics are the electronics devices that uses optical interaction to generate an electronic response in presence of some optically active semiconductors. Its significant advantages over the traditional semiconductor devices has surged its adoption in various sectors such as automotive, medical, research, and many others. Some of its attractive features are low power consumption, high bandwidth for communication, and high sensitivity for temperature.
In addition, stringent regulations for electricity consumption along with increasing contamination of harmful gases in the atmosphere during electricity generation have triggered the application of light energy. European government including other regional governments has thrived their development pace of the photonic industry. For instance, the European government has designed its strategic roadmap for the adoption of light technology in various end-use sectors until 2027. They have projected the light technology market growth at 8.4% in the region up to the year 2027.
Product Type Analysis
Laser Diode expected to witness a Flourishing Growth during the Forecast Period
In 2018, LED held the largest revenue share in the global optoelectronics market. Its significant application in ICs, computers, microelectronics, display electronics, and in many other sectors is the prime factor contributing to its significant growth. However, laser diodes expected to witness frenetic growth during the forecast period owing to the increasing deployment of lasers in the industrial sector. In addition, laser diodes are the widely used optoelectronic component used for laser generation across various verticals. Furthermore, increasing investment in LiDAR technology anticipated to uplift the laser diode market growth in the coming years. For instance, in August 2019, Valeo, a France based car parts manufacturing company announced to invest US$ 555.37 in LiDAR sensors.
End-use Industry Analysis
Automotive Industry foresees Lucrative Growth over the Analysis Period
Despite sluggish growth in automotive sale new technology integration and innovations in the automotive industry has gained remarkable momentum over the past few years. The introduction of autonomous cars and driver assistance systems has made the industry vulnerable to the increased application of sensors. Furthermore, the rising concern for safety and security has surged the deployment of optoelectronic devices in the automotive sector. In addition, players are also expanding their reach in the automotive optoelectronics market seeing the exponential demand from customers. In December 2019, Tesla Inc. opened a new research & development facility in Taiwan. The new research center mainly focuses on the development of mini LED displays for automotive, automotive lighting, and large size displays.
Regional Analysis
North America acquired Prominent Revenue Share in the Global Optoelectronics Market in 2018
Increasing investment in smart infrastructure and automation technology has projected North America as the global leader in the optoelectronics market in 2018. North America leads the global smart building investment with around 36% share across the world. The region also witnesses an escalating growth in smart energy, smart city, and other smart solutions. Several smart city projects are running in North American cities including Detroit, Austin, San Diego, Portland, and many more.
The Asia Pacific anticipated registering the fastest growth in optoelectronics market during the forecast period. The exponential growth of the region is mainly due to the large consumer electronics and the automotive market. In addition, the growth of optoelectronic devices is also foreseen in other sectors such as running smart city projects, new technologies such as Internet of Things (IoT), big data, augmented & virtual reality, and smart industrial appliances.
Key Players & Competitive Landscape:
Alluring Opportunity for Innovation has surged the Competition among the Optoelectronics Market Players
The global optoelectronics market is a mature market but still ushers innovations and paradigm shifts in the coming years. Several unexplored areas in optoelectronics provide an alluring opportunity for research & development. Therefore, the market players are grapple in a close fight to strengthen their footprint in the global optoelectronics market.
List of Companies Covered:
Key Industry Development:
On September 04, 2018, San’an Optoelectronics, a china-based optoelectronics manufacturing company announced to start its first production line of a micro-LED wafer in the year 2019. The company has developed 20-micron micro-LED and planning to develop 10 microns LED flip-chips and 4-micron LEDs. These micro LEDs were designed to be used in automotive taillights, wearables, and large-area displays.
On April 25, 2017, Cree Inc. signed a joint venture agreement with San’an Optoelectronics Co., Ltd. to deliver high-performance LED in an attractive arrangement for the expanding markets in North America, Europe, Japan, China, Latin America, and the rest of the world.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment calculated for the forecast period from 2019 to 2027.
Key questions answered in this report
This product will be delivered within 2 business days.
Rising Adoption of Light Technology across Various Sectors predicted to uplift the demand of Optoelectronics Devices Globally
The global optoelectronics market was stood at US$ 4.57 Bn in the year 2018 and expected to reach US$ 11.84 Bn by the year 2027, expanding at a CAGR of 11.2% during the forecast from 2019 to 2027.
Significant disruptions in electronic devices over the recent past along with the rising trend of renewable energy sources has triggered the growth of optoelectronics market. Optoelectronics are the electronics devices that uses optical interaction to generate an electronic response in presence of some optically active semiconductors. Its significant advantages over the traditional semiconductor devices has surged its adoption in various sectors such as automotive, medical, research, and many others. Some of its attractive features are low power consumption, high bandwidth for communication, and high sensitivity for temperature.
In addition, stringent regulations for electricity consumption along with increasing contamination of harmful gases in the atmosphere during electricity generation have triggered the application of light energy. European government including other regional governments has thrived their development pace of the photonic industry. For instance, the European government has designed its strategic roadmap for the adoption of light technology in various end-use sectors until 2027. They have projected the light technology market growth at 8.4% in the region up to the year 2027.
Product Type Analysis
Laser Diode expected to witness a Flourishing Growth during the Forecast Period
In 2018, LED held the largest revenue share in the global optoelectronics market. Its significant application in ICs, computers, microelectronics, display electronics, and in many other sectors is the prime factor contributing to its significant growth. However, laser diodes expected to witness frenetic growth during the forecast period owing to the increasing deployment of lasers in the industrial sector. In addition, laser diodes are the widely used optoelectronic component used for laser generation across various verticals. Furthermore, increasing investment in LiDAR technology anticipated to uplift the laser diode market growth in the coming years. For instance, in August 2019, Valeo, a France based car parts manufacturing company announced to invest US$ 555.37 in LiDAR sensors.
End-use Industry Analysis
Automotive Industry foresees Lucrative Growth over the Analysis Period
Despite sluggish growth in automotive sale new technology integration and innovations in the automotive industry has gained remarkable momentum over the past few years. The introduction of autonomous cars and driver assistance systems has made the industry vulnerable to the increased application of sensors. Furthermore, the rising concern for safety and security has surged the deployment of optoelectronic devices in the automotive sector. In addition, players are also expanding their reach in the automotive optoelectronics market seeing the exponential demand from customers. In December 2019, Tesla Inc. opened a new research & development facility in Taiwan. The new research center mainly focuses on the development of mini LED displays for automotive, automotive lighting, and large size displays.
Regional Analysis
North America acquired Prominent Revenue Share in the Global Optoelectronics Market in 2018
Increasing investment in smart infrastructure and automation technology has projected North America as the global leader in the optoelectronics market in 2018. North America leads the global smart building investment with around 36% share across the world. The region also witnesses an escalating growth in smart energy, smart city, and other smart solutions. Several smart city projects are running in North American cities including Detroit, Austin, San Diego, Portland, and many more.
The Asia Pacific anticipated registering the fastest growth in optoelectronics market during the forecast period. The exponential growth of the region is mainly due to the large consumer electronics and the automotive market. In addition, the growth of optoelectronic devices is also foreseen in other sectors such as running smart city projects, new technologies such as Internet of Things (IoT), big data, augmented & virtual reality, and smart industrial appliances.
Key Players & Competitive Landscape:
Alluring Opportunity for Innovation has surged the Competition among the Optoelectronics Market Players
The global optoelectronics market is a mature market but still ushers innovations and paradigm shifts in the coming years. Several unexplored areas in optoelectronics provide an alluring opportunity for research & development. Therefore, the market players are grapple in a close fight to strengthen their footprint in the global optoelectronics market.
List of Companies Covered:
- Toshiba Corp.
- Sony Corp.
- Samsung Electronics
- Osram Licht AG
- ROHM Co., Ltd.
- Sharp Corp.
- BetaLED
- Avago Technologies
- Panasonic
- Philips
Key Industry Development:
On September 04, 2018, San’an Optoelectronics, a china-based optoelectronics manufacturing company announced to start its first production line of a micro-LED wafer in the year 2019. The company has developed 20-micron micro-LED and planning to develop 10 microns LED flip-chips and 4-micron LEDs. These micro LEDs were designed to be used in automotive taillights, wearables, and large-area displays.
On April 25, 2017, Cree Inc. signed a joint venture agreement with San’an Optoelectronics Co., Ltd. to deliver high-performance LED in an attractive arrangement for the expanding markets in North America, Europe, Japan, China, Latin America, and the rest of the world.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment calculated for the forecast period from 2019 to 2027.
Key questions answered in this report
- What was the global market size of optoelectronics in 2017 & 2018?
- What are the estimated forecast and market projections up to 2027?
- Which is the largest regional market for optoelectronics?
- Which optoelectronics product is largely preferred on a global scale?
- Which is the most lucrative end-use industry of optoelectronics?
- Which are the predominant trends shaping the global optoelectronics market?
- Which is the most promising, attractive, and less-explored region in the global optoelectronics market?
- Who are the leading players in the global optoelectronics market?
- What are the premiere strategies adopted by the leading players in the global optoelectronics market?
This product will be delivered within 2 business days.
Table of Contents
1. Preface
2. Executive Summary
3. Market Dynamics
4. Global Optoelectronics Market, by Product Type, 2017-2027 (US$ Bn)
5. Global Optoelectronics Market, by End-use Industry, 2017-2027 (US$ Bn)
6. North America Optoelectronics Market Analysis, 2017-2027 (US$ Bn)
7. Europe Optoelectronics Market Analysis, 2017-2027 (US$ Bn)
8. Asia Pacific Optoelectronics Market Analysis, 2017-2027 (US$ Bn)
9. Rest of the World Optoelectronics Market Analysis, 2017-2027 (US$ Bn)
10. Company Profiles
List of Figures
List of Tables
Companies Mentioned
- Sharp Corporation
- Sony Corporation
- Panasonic
- Toshiba
- Philips
- BetaLEd
- Avago Technologies
