Opto Semiconductors Global Market Report 2024

The opto semiconductors market has grown rapidly in recent years. It will grow from $53.27 billion in 2023 to $59.99 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. In the historic period, growth can be attributed to several pivotal developments. Advancements in infrared technology, early innovations in LED technology, the origins of semiconductor lasers, the inception of optical communication, and notable improvements in photodetector technologies collectively contributed to this growth trajectory.

The opto semiconductors market is expected to see rapid growth in the next few years. It will grow to $94.81 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The anticipated growth in the forecast period is expected to stem from several key drivers. These include increased focus on environmental sensing and monitoring, expanded applications in aerospace and defense, the integration of smart lighting and displays, augmented and virtual reality adoption, and the ongoing expansion of renewable energy initiatives.

The optoelectronic semiconductor market is poised for growth due to the surging demand for fiber-optic communication. This method utilizes light instead of electricity to transmit data across locations. Light modulators within fiber optic communication systems are facilitated by optoelectronic semiconductors, enabling data transmission over long distances without intermediate processing. Notably, in the first half of 2021, a China-based fiber optic equipment company reported a revenue increase from $34.716 billion in 2020 to $40.118 billion, indicating the escalating demand driving the optoelectronic semiconductor market.

The upward trajectory of internet traffic is anticipated to fuel growth in the opto semiconductor market. Internet traffic denotes data packet movement among internet-connected devices. This surge, propelled by increased online users and the need for high-speed data transmission, amplifies the deployment of fiber-optic communication networks. Optoelectronic semiconductors such as LEDs and photodetectors are pivotal in these systems. Notably, mobile devices account for over 55% of website traffic, with 92.3% of internet users accessing it via mobile devices, totaling around 4.32 billion users, driving demand for opto semiconductors.

Technological advancements are a prevailing trend shaping the optoelectronic semiconductor market. Key industry players are adopting novel technologies to maintain their market position. For instance, in April 2023, Ams Osram unveiled the TOPLED D5140, SFH 2202, a superior photodiode catering to wearable health trackers and medical diagnostic devices. This advancement showcases enhanced sensitivity to green visible light and superior performance in the infrared spectrum, notably improving heart rate assessment accuracy.

Market leaders in the opto semiconductor arena focus on innovation, exemplified by products such as the LM10 chip, aimed at boosting profitability. The LM10 chip, a monolithic linear integrated circuit, consolidates operational and reference amplifiers onto a single chip. For instance, Lumotive Inc. launched the LM10 chip in August 2023, offering advanced scanning capabilities and dynamic region adjustment for 3D sensing applications in robotics, smart infrastructure, and automotive sectors. Its compact size and reliability enable digital beam steering, overcoming limitations of conventional lidar sensors.

In March 2021, Luminar Technologies, a US-based pioneer in vision-based lidar and machine perception technologies, completed the acquisition of Freedom Photonics for an undisclosed sum. This strategic merger bolsters Luminar's position in advancing vehicle safety and autonomy. Freedom Photonics, also US-based, specializes in crafting distinctive and inventive photonic components, modules, and subsystems.

Major companies operating in the opto semiconductors market report are Jenoptik AG, Epistar Corp., Vishay Intertechnology Inc., Osram Opto Semiconductors GmbH, Renesas Electronics Corporation, Nichia Corporation, Toshiba Electronic Devices & Storage Corporation, Mitsubishi Electric Corporation, Rohm Co. Ltd., Broadcom Inc., LITE-ON Technology Corporation, TT Electronics PLC, Littelfuse Inc., Ushio America Inc., Sharp Corporation, Lumileds Holding B.V., General Electric Company, Panasonic Corporation, Omnivision Technologies Inc., Sony Corporation, Koninklijke Philips N.V., Texas Instruments Inc., Stanley Electric Co., Everlight Electronics Co.Ltd., Cree Inc., Finisar Corporation, Lumentum Holdings Inc., Applied Optoelectronics Inc., II-VI Incorporated, NeoPhotonics Corporation, Accelink Technologies Co.Ltd., Kingbright Electronic Co. Ltd., Inphi Corporation, Oclaro Inc., Emcore Corporation.

Asia-Pacific was the largest region in the opto semiconductors market in 2023. The regions covered in the opto semiconductors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the opto semiconductors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of opto-semiconductors encompass optocouplers, LEDs, image sensors, infrared components, and laser diodes. Optocouplers facilitate the transmission of electrical signals between isolated circuits using light. Crafted from materials such as silicon, gallium arsenide, gallium phosphide, and indium gallium arsenide, these components find diverse applications across residential, commercial, automotive, consumer electronics, telecommunications, healthcare, and energy sectors.

The opto semiconductors market research report provides opto semiconductors market statistics, including opto semiconductors industry global market size, regional shares, competitors with a opto semiconductors market share, detailed opto semiconductors market segments, market trends and opportunities, and any further data you may need to thrive in the opto semiconductors industry. This opto semiconductors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The opto semiconductor market consists of sales of photodiodes, laser diodes, and solar cells. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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