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Optoelectronics Market: Forecast to 2027
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Market Highlights
The demand for lower power consumption and deployment of optoelectronics in consumer electronics are driving the global Optoelectronics Market. The emerging technologies in the area of LCD and other consumer electronics are driving overall demand for optoelectronics market.
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The global optoelectronics market is segmented into the component, light source, industry, and region.
Key players
Some of the key players in the global optoelectronics market are Cree, Inc. (U.S.), Osram Licht AG (Germany), Vishay Intertechnology, Inc. (U.S.), ON Semiconductor (U.S.), OmniVision Technologies, Inc. (U.S.), Sony Corporation (Japan), Sharp Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Koninklijke Philips N.V. (the Netherlands), General Electric Company (U.S.).
Some of the key innovators in the global optoelectronics market are Toshiba Corporation (Japan), Rohm Co., Ltd. (Japan), Panasonic Corporation (Japan), Finisar Corporation (U.S.), Avago Technologies, Ltd. (U.S.), Dialight Corp.(U.K), Merck KGaA (Germany), OSI Optoelectronics (U.S.), Texas Instruments (U.S.), NXP Semiconductors (the Netherlands), Analog Devices (U.S.), Taiwan Semiconductors (Taiwan), Fairchild Semiconductor International, Inc. (U.S.) and many others.
There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers.
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Regional Analysis
By geography, the market is studied in North America, Europe, Asia Pacific and rest of the world. Among these regions, the market is majorly dominated by Asia Pacific at present due to a higher concentration of key players in countries like China, Japan, and South Korea. Due to this, major contribution is made by Japan, particularly in the development of energy efficient optoelectronic components.
On the other hand, Europe is expected to show a decent market growth concerning the optoelectronics market. The demand for optocouplers across various industries like healthcare and automotive are pushing the demand for global optoelectronics. However, the North America region is expected to show a significant growth throughout the forecast period. Rising demand for energy efficient LEDs and rising usage of LCDs are driving the market in this region. The demand for consumer electronics across the developed countries like U.S. is driving the market in this region.
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