$41.4+ Billion Optoelectronic Components Market by Component, Application, Material, Vertical, and Region - Global Forecast to 2025 - ResearchAndMarkets.com

DUBLIN--()--The "Optoelectronic Components Market by Component (Sensor, LED, Laser Diode, and Infrared Components), Application (Measurement, Lighting, Communications, and Security & Surveillance), Material, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global optoelectronic components market size is projected to grow from USD 41.4 billion in 2020 to USD 52.7 billion by 2025, recording a CAGR of 5.0%.

Emerging opportunities of optoelectronic components, R&D leading to product innovation, and promising industrial IoT applications provide major growth opportunities to market players.

The optoelectronic components market is mainly driven by the increased use of infrared components in consumer electronics & automobiles, long life & low power consumption, demand for improved imaging & optical sensing solutions in the healthcare vertical, and suitable physical properties of optoelectronic sensors to operate in harsh environments. The availability of cheaper substitute technologies to LED is expected to restrain the market growth.

Major Players Profiled:

  • Hamamatsu (Japan)
  • Osram (Germany)
  • TT Electronics (UK)
  • Vishay (US)
  • ON Semiconductor (US)
  • Cree (US)
  • Trumpf (Germany)
  • SICK AG (Germany)
  • Samsung (South Korea)
  • Sony (Japan)
  • Broadcom (US)

Consumer electronics to hold the largest share in the optoelectronic components market by 2025

The consumer electronics segment in the optoelectronic components industry is projected to hold the largest share during the forecast period. The adoption of optoelectronic components in the consumer electronics sectors has increased due to the technical advancements and the increasing use of consumer goods such as high-end sophisticated cameras, photocopy machines, smartphones, blue-ray storage devices, flat & flexible television displays, and more.

Sensor component to hold the largest share in the optoelectronic components industry by 2025

The sensor component segment is projected to hold the majority of the optoelectronic components market share during the forecast period, owing to the usage of several types of sensors such as optical sensors, image sensors, phototransistors, photodiode, and photo relays for varied applications across several industries. The sensor component segment has been further sub-segmented into phototransistors, photodiodes, photo relays, image sensors, optical sensors, and ultraviolet sensors.

Measurement application to hold the largest share in the optoelectronic components market by 2025

The measurement application segment is projected to hold the largest share in the optoelectronic components industry during the forecast period. Measurement systems use optoelectronic sensors to convert light signals to electric currents and are used for several applications such as machine vision, monitoring of processes & operations, control of processes & operations, and experimental engineering analysis, among others.

APAC to be the largest optoelectronic components market by 2025

APAC is projected to hold the largest share in the market during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the optoelectronic components industry in APAC. The market in APAC is likely to be driven by the evolving automobile, medical, and industrial manufacturing companies and also the rising demand for optoelectronic components from the overseas markets of North America and Europe.

Market Dynamics

Drivers

  • Increased use of Infrared Components in Consumer Electronics and Automobiles
  • Long Life and Low Power Consumption
  • Demand for Improved Imaging and Optical Sensing Solutions in Healthcare Vertical
  • Ability to Operate in Extreme Environment

Restraints

  • Availability of Cheaper Substitute Technologies to LED

Opportunities

  • Advancements in Technology Such as Li-Fi
  • Innovation for Improvements in Functional Capabilities
  • Promising Industrial IoT Applications

Challenges

  • High Cost of Raw Materials
  • Regulatory Barriers
  • Value Chain Analysis

Company Profiles

  • Hamamatsu
  • Osram
  • TT Electronics
  • Vishay
  • ON Semiconductor
  • Cree
  • Trumpf
  • SICK AG
  • Samsung
  • Sony
  • Broadcom
  • Hamamatsu
  • Osram
  • TT Electronics
  • Vishay
  • ON Semiconductor
  • Omnivision
  • Micropac
  • Rohm
  • OSI System
  • Sharp
  • Newport
  • Himax
  • Renesas
  • Lite-On
  • SK Hynix

For more information about this report visit https://www.researchandmarkets.com/r/5b1b4s

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900