DUBLIN--(BUSINESS WIRE)--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)
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.
- 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
- Availability of Cheaper Substitute Technologies to LED
- Advancements in Technology Such as Li-Fi
- Innovation for Improvements in Functional Capabilities
- Promising Industrial IoT Applications
- High Cost of Raw Materials
- Regulatory Barriers
Value Chain Analysis
- TT Electronics
- ON Semiconductor
- SICK AG
- TT Electronics
- ON Semiconductor
- OSI System
- SK Hynix
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