New York, March 08, 2023 (GLOBE NEWSWIRE) -- According to the Reports Insights' research report, the global optoelectronics market had a value of USD 46.8 Billion in 2022 and is projected to exceed USD 95.3 Billion by 2030, exhibiting a significant Compound Annual Growth Rate (CAGR) of 9.3%. The study suggests that the rising demand for optoelectronic devices across various sectors, such as telecommunications, healthcare, and automotive, is likely to fuel the growth of the market in the coming years.
Optoelectronics Market Size, Share & Trends Analysis, By Type (Display Modules, Fiber & Cable, Transceiver Modules, Source & Detectors, Receivers, Others), Device Material (Silicon Germanium, Silicon Carbide, Gallium Nitride, Gallium Arsenide, Gallium Phosphide, Indium Phosphide), Light Source (Visible Light, Ultraviolet, X-Rays, Infrared), Component (Photo Voltaic (PV) Cells, Optocouplers, Laser Diode (LD), Image sensors, Light Emitting Diodes (LED), Infrared Components (IR)), End Use (Automotive, Consumer Electronics, Industrial, Aerospace & Defense, Medical, Others), By Region and Segment, Forecast Period 2023 – 2030.
Reports Insights Consulting Pvt. Ltd offers an in-depth analysis of factors that influence the market demand within the research report on Optoelectronics market. The study dives deep across various segments such as type, device material, light source, component, and end-use that will drive the growth of the market during the forecast period. Several primary and secondary research methods are used to create unique datasets and research materials for business reports. Thus, manufacturers gain an opportunity to get access to the latest trends and information that help broaden the scope of the market.
Get Sample Report@ https://www.reportsinsights.com/sample/673822
The high reliance on modern electronic and electro-optical systems on advanced packaging, as well as the integration of semiconductor and optical device technology within numerous applications to achieve high performance is estimated to drive the market growth during the forecast period.
Optoelectronics Market Growth Drivers:
- Rising expenditures on smart infrastructures by major developed as well as developing countries boosts the demand for optoelectronics in terms of sensing, smart lighting, and communication technologies.
- Growing demand for signal processing and photonic communications, especially in the aerospace & defense sector, also fuels the market of optoelectronics. The integration of optical surveillance technology, free-space laser technology and laser weapons technology offers a significant advantage to defense forces in their efforts to get protection against laser weapons and missile attacks.
- Emerging technological advancements due to the Industry 4.0 era of smart factories mainly accelerate the massive usage of fiber optics. The improved affordability and durability of fiber optic cables, connectors, and transceivers boost the extension of such optics technology beyond its conventional applications in telecom and datacom to the manufacturing environment.
Restraints
- High initial investments in the production of optoelectronics due to the large usage of expensive materials and advanced manufacturing processes hampers the growth of optoelectronics market statistics.
- Optoelectronics devices are subject to regulatory and environmental constraints, particularly in areas such as energy consumption and hazardous materials, which limits the market growth.
Competitive Landscape
As per the research, Intel Corporation, Sony Corporation, Omron Electronics, ams-OSRAM International GmbH, ON Semiconductor, and Sharp Corporation are key manufacturers that dominate the latest market circumstances. Such established market players have mainly focused on innovation and technological advancements to tackle the high competition in optoelectronics industry. Further, the scope of developing and commercializing new optoelectronics technologies will allow companies to successfully capture significant market share and drive sustainable growth in the industry.
The upcoming advanced lighting technology is anticipated to offer the adaptive capacity to support an individual's emotional state or natural body clock within their surrounding living space through more precise color representation of objects.
Growing expenditures by established market players to introduce product innovations, especially in terms of high reliability, will result in boosting the sales of optoelectronics in the upcoming years. For instance, Samsung carried out a series of reliability tests in different situations to demonstrate the impressive performance of their newly launched outdoor solution called LH502D. The tests were designed to assess the product's durability under extreme outdoor conditions such as high temperatures, corrosive gases, and salty humidity, which are common in outdoor environments. The aim was to highlight how the LH502D outperforms existing outdoor lighting solutions.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 95.3 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 9.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Sony Corporation, Samsung Electronics, Sharp Corporation, General Electric Company (US), Intel Corporation, Omron Electronics, HiSilicon Optoelectronics Co., Ltd., Cree Inc., Texas Instruments, ON Semiconductor, Vishay Intertechnology, Inc., ams-OSRAM International GmbH., ROHM CO., LTD., Broadcom Inc. (Avago Technologies), Analog Devices, Inc., Hamamatsu Photonics K.K., Tata Advanced Systems Limited |
| By Type | Display Modules, Fiber & Cable, Transceiver Modules, Source & Detectors, Receivers, and Others |
| By Device Material | Silicon Germanium, Silicon Carbide, Gallium Nitride, Gallium Arsenide, Gallium Phosphide, Indium Phosphide |
| By Light Source | Visible Light, Ultraviolet, X-Rays, Infrared |
| By Component | Photo Voltaic (PV) Cells, Optocouplers, Image sensors, Light Emitting Diodes (LED), Laser Diode (LD), Infrared Components (IR) |
| By End Use | Automotive, Consumer Electronics, Industrial, Aerospace & Defense, Medical, and Others |
| Report Coverage | Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Total Revenue Forecast, Business Strategies, and more. |
| By Geography | North America [United States, Canada, Mexico] Asia-Pacific [China, Japan, India, Southeast Asia, Korea, Western Asia] South America [Brazil, Argentina, Columbia, Chile, Peru] Europe [Germany, UK, Turkey, Spain, France, Italy, Russia, Netherlands, Switzerland] Middle East & Africa [GCC, North Africa, South Africa] |
Immediate Delivery Available, Buy Now @ https://www.reportsinsights.com/buynow/673822
The scope of increasing expenditures in R&D to support the mass production of next-generation optoelectronics is anticipated to strengthen the market statistics during the forecast period. For instance, In June 2022, Intel Research achieved a significant milestone in its integrated optoelectronics research which aimed at boosting the interconnect bandwidth of computing chips within and across data centers. The latest breakthrough involves multi-wavelength integrated optics and features an eight-wavelength distributed feedback (DFB) laser array which is completely integrated into a silicon wafer. The laser array demonstrates exceptional output power uniformity of +/- 0.25 decibels (dB), with wavelength interval uniformity that surpasses the industry standard at ±6.5%. This cutting-edge technology marks an industry-leading advance in integrated optics.
In the context of market dominance in the Asia Pacific region, the established presence of dominant markets in consumer electronics and automobiles mainly boosts the demand for optoelectronics. Further, optoelectronic devices are also predicted to experience growth in various fields, such as smart city projects and emerging technologies like virtual and augmented reality, big data, the Internet of Things (IoT), and intelligent industrial appliances.
Key Market Takeaways
- The global optoelectronics market size is expected to surpass USD 95.3 billion by 2030 with an astonishing CAGR of 9.3% during the forecast period (2023-2030).
- Based on type, the fiber & cables segment accounted for the largest share contribution to the market growth in 2022.
- By device material, the gallium nitride segment contributed the largest shares to the market growth in 2022 due to increased usage in transistors that fall within the low-medium voltage range and work in high-temperature environments.
- In the context of light source, the ultraviolet segment is anticipated to boost the sales of optoelectronics due to high demand in laser material processing methods such as pulsed laser deposition, and laser ablation.
- Based on components, the laser diode (LD) segment accounted for the largest share contribution to the market growth in 2022.
- Based on end use, the consumer electronics segment witnessed significant growth in 2022 with the largest shares contribution to the market growth. The segmental growth is driven by the high demand for consumer electronics such as LED projectors, smartphones, organic LEDs, high-end cameras, and smart television displays.
- Asia Pacific region accounted for the largest shares contribution to skyrocket the market growth in 2022. The market growth in this region is mainly attributed to rising disposable income, rapid urbanization, and shifting spending patterns among the population due to significant demand for high and medium-power LEDs in residential as well as commercial settings.
- With the increased demand for high-speed communication networks, especially to meet the demand for smart infrastructure and industrial automation, the North American region is expected to offer favorable opportunities for the growth of the optoelectronics market.
Recent Developments:
In October 2022, ams OSRAM introduced the first commercial off-the-shelf semiconductor laser emitter named Metal Can® PLT5 522FA_P-M12. The latest offering produces the precise wavelength output of 514nm that finds high requirement in numerous applications for diagnostics and life science research.
In November 2022, ams OSRAM expanded the OSLON® P1616 portfolio of high-power, small-sized infrared LEDs by introducing new emitters that generate an illumination field tailored for the square or rectangular field of view (FoV) of IR cameras.
In January 2023, FISBA, which specializes in producing optical and illumination systems, made an agreement to purchase Gray Optics, a company that develops high-precision optical systems. This acquisition is aimed at strengthening and broadening FISBA's engineering and development capabilities in North America.
List of Major Optoelectronics Market Players
• Sony Corporation
• Samsung Electronics
• Sharp Corporation
• General Electric Company (US)
• Intel Corporation
• Omron Electronics
• Cree Inc.
• HiSilicon Optoelectronics Co., Ltd.
• Texas Instruments
• ON Semiconductor
• Vishay Intertechnology, Inc.
• ams-OSRAM International GmbH.
• ROHM CO., LTD.
• Broadcom Inc. (Avago Technologies)
• Analog Devices, Inc.
• Hamamatsu Photonics K.K.
• Tata Advanced Systems Limited
Global Optoelectronics Market Segmentation:
- By Type
- Display Modules
- Fiber & Cable
- Transceiver Modules
- Source & Detectors
- Receivers
- Others
- By Device Material
- Silicon Germanium
- Silicon Carbide
- Gallium Nitride
- Gallium Arsenide
- Gallium Phosphide
- Indium Phosphide
- By Light Source
- Visible Light
- Ultraviolet
- X-Rays
- Infrared
- By Component
- Photo Voltaic (PV) Cells
- Optocouplers
- Image sensors
- Light Emitting Diodes (LED)
- Laser Diode (LD)
- Infrared Components (IR)
- By End Use
- Automotive
- Consumer Electronics
- Industrial
- Aerospace & Defense
- Medical
- Others
Key Questions Covered in the Optoelectronics Market Report
Which segment is attributed to the largest share contribution to the optoelectronics market?
What are the key driving factors that drive or influence the market growth of optoelectronics from 2023 to 2030?
What is the projected market size of the optoelectronics market by 2030?
Which region is expected to boost the market statistics of optoelectronics in terms of the largest share contribution?
Who are the leading market players that comprise the latest market environment?
Our Others Research Reports here:-
Memory Devices Market Size, Share & Trends Analysis, By Type (SRAM, ROM & EPROM, NOR Flash, NAND Flash, DRAM, and Others), Application (Smartphone/Tablet, PC/Laptop, Data Center, Consumer Products, Automotive, and Others), By Region, Forecast Period 2022 - 2030
Horticulture Lighting Market Size, Share & Trends Analysis, By Lighting Type (Top-Lighting and Inter-Lighting), Technology (LED Lights, Fluorescent Lights, HID Lights, and Others), Spectrum (Full, Red, Blue Spectrum, and Others), Offering (Hardware, Software, and Services), Application (Vertical, Indoor, and Greenhouse Farming), By Region, Forecast Period 2022 - 2030
Discrete semiconductor Market Size, Share & Trends Analysis, By Type (Diodes , Transistors , Thyristor, Modules), Application (Automotive, Consumer Electronics, Communication & Networking, Industrial, Security and Others), Region, Forecast Period 2022 - 2030
Consumer Electronics Sensors Market Size, Share & Trends Analysis, By Product Type (Image Sensors, Motion Sensors, Position Sensors, Pressure Sensors, Temperature Sensors and Touch Sensors), By Application (Communication, Entertainment, IT, Home Appliances, and Others), By Region and Segment, Forecast Period 2022 - 2030
Nickel-Metal Hydride Battery Market Size, Share & Trends Analysis, By Type (Small-Sized, Large-Sized), By Application (Automotive (HEV) and Consumer Electronic Goods (Cameras, Camcorders)), By Region and Segment, Forecast Period 2022 - 2030
According to the Reports Insights' research report, the global optoelectronics market had a value of USD 46.8 Billion in 2022 and is projected to exceed USD 95.3 Billion by 2030, exhibiting a significant Compound Annual Growth Rate (CAGR) of 9.3%. The study suggests that the rising demand for optoelectronic devices across various sectors, such as telecommunications, healthcare, and automotive, is likely to fuel the growth of the market in the coming years.
