Optoelectronic Components Market
Optoelectronic Components Market - Global Industry Assessment & Forecast
#
Pages:
160
2022
Jan - 2022
VMR-1154
Segments Covered
By
Component Sensor, LED, Laser Diode, Infrared Components
-
By
Application Measurement, Lighting, Communications, Security & Surveillance, Others
-
By
Material Gallium Nitride, Gallium Arsenide, Silicon Carbide, Others
-
By
Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
 Base Year:
|
2022 |
| Forecast
Years:
|
2023 - 2030 |
 Historical
Years:
|
2017 - 2021 |
 Revenue
2022: |
USD 44.02 Billion |
 Revenue 2030:
|
USD 64.04 Billion |
 Revenue CAGR
(2023 - 2030): |
4.80% |
Fastest Growing Region (2023 -
2030)
|
Asia Pacific |
Largest Region (2022):
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Optoelectronic Components Market: By Component, Material, Region
Market Synopsis
Global Optoelectronic Components market is valued at USD 44.02 Billion in 2022 and is projected to attain a value of USD 64.04 Billion by 2030 at a CAGR of 4.80% during the forecast period, 2022–2028. The rapid development of the electronics industry has led to strong demand for Optoelectronic Components, bringing about greater opportunities for optoelectronic device manufacturers. After many years of development, the optoelectronic device market has grown to a certain scale. Growth in the past was driven by large orders for major mobile phone handset and tablet PC suppliers, but increased competition among semiconductor companies for mobile orders will bring about lower growth prospects in the future. Mature mobile handset / tablet PC markets will also result in reduced demand for Optoelectronic Components.
Optoelectronic Components Market Size, 2022 To 2030 (USD Billion)
AI (GPT) is here !!! Ask questions about Optoelectronic Components Market
Optoelectronic Component Demand will be Driven by the Traditional LED Lighting Market
Optoelectronic component demand will be driven by the traditional LED lighting market. Development of green and eco-friendly products, expansion of end-use applications, and increasing R&D investment in optoelectronic devices are driving growth in the optoelectronic component market. Currently, China is the world's largest LED lighting consumer market; however, Japan still dominates this area in light of its high energy-saving awareness among consumers and high penetration rate of existing LEDs. On April 1, 2014, new regulations banning sales of conventional incandescent bulbs finally came into effect in Japan. The government has also set a target to reduce greenhouse gas emissions by 26% from 2013 levels by 2020. With these regulations continuing to support demand for LEDs, Japan's LED lighting market is expected to account for a greater proportion of total optoelectronic component demand.
Below tree is interactive. You can click the nodes to get more information.
Report Coverage & Deliverables
- Real-Time Data Updates:
- Competitor Benchmarking
- Market Trends Heatmap
- Custom Research Queries
- Market Sentiment Analysis
- Demographic and Geographic Insights
Get Access Now
High Raw Material Prices to Hamper Growth of Optoelectronic Components Market
Although demand for Optoelectronic Components is growing, price competition among manufacturers has become increasingly intense. Owing to such factors as high component prices and low profit margin, many optoelectronic component manufacturers have yet to break even. Demand growth cannot keep up with supply due to insufficient research and development efforts and production capacity limitations. Additionally, the cost of raw materials has increased, lowering the profitability of many companies.
Segmentation
On the basis of component, the market is segmented into sensor, LED, laser diode, Infrared Components. Based on application, measurement, lighting, communications, security & surveillance, others (geographical survey, scanning, and spectrometry). On the basis of material, the market is segmented into gallium nitride, gallium arsenide, silicon carbide, and others.
Gallium Nitride Key is Material Used for Production of Optoelectronic Components
Gallium Nitride (GaN) is a semiconductor alloy composed of gallium, nitrogen, aluminum, and hydrogen. It is the key material used to create Optoelectronic Components such as vertical transistors (FETs), light-emitting diodes (LEDs), blue laser diodes, photo detectors, ultraviolet LEDs, etc., which are growing in use across various end-use applications including mobile devices, smart home, automotive lighting systems, healthcare, etc. Gallium Nitride (GaN) wafer technology is the key material and production technology for Optoelectronic Components. High purity gallium nitride crystal material with low dislocation density and uniformity are required for high-power light-emitting diodes (LEDs) and photo detectors, whereas low resistivity epitaxial gallium nitride films are essential for fabrication of vertical transistors (FETs).
Asia Pacific to Continue Holding Dominance over Global Optoelectronic Components Market
In the next seven years, demand for Optoelectronic Components will likely increase due to growth in various end-use applications such as mobile devices and automotive lighting systems. In particular, GaNS technology is expected to show strong growth through use of its higher efficiency conversion rate compared with SiC-FETs. Moreover, semiconductor companies are expanding their production capacity both domestically and abroad. As a result, high growth is not expected except in China over the next five years.
Demand growth cannot keep up with supply due to insufficient research and development efforts and production capacity limitations. Additionally, the cost of raw materials has with increased, lowering the profitability of many companies. There is also a risk of oversupply due to rapid expansion of semiconductor production and an increase in market entrants
Competitive Landscape
Due to increasing production capacity, more Chinese players are expected to enter the optoelectronic component market; however, many small-sized players still lag behind larger competitors owing to low brand recognition, lack of research and development funding, sub-par production facilities, or slow product development cycles. Such deficiencies are expected to limit the ability of smaller players to expand their market share.
Osram (Germany), Hamamatsu (Japan), TT Electronics (UK), ON Semiconductor (US), Vishay (US), SICK AG (Germany), Cree (US), Trumpf (Germany), Samsung (South Korea), Broadcom (US), and Sony (Japan) are of the major players in the global Optoelectronic Components market.
The Optoelectronic Components is Segmented as Follows:
Parameter
Details
Segments Covered
Regions & Countries Covered
Companies Covered
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
impact analysis
Pricing and purchase options
Avail of customized purchase options to meet your exact research needs. Explore purchase options
Vantage Market
Research | 21-Jan-2022
FAQ
Frequently Asked Question
What is the global demand for Optoelectronic Components in terms of revenue?
-
The global Optoelectronic Components valued at USD 44.02 Billion in 2022 and is expected to reach USD 64.04 Billion in 2030 growing at a CAGR of 4.80%.
Which are the prominent players in the market?
-
The prominent players in the market are Osram (Germany), Hamamatsu (Japan), TT Electronics (UK), ON Semiconductor (US), Vishay (US), SICK AG (Germany), Cree (US), Trumpf (Germany), Samsung (South Korea), Broadcom (US), and Sony (Japan) .
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 4.80% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
-
The driving factors of the Optoelectronic Components include
- Optoelectronic Component Demand will be Driven by the Traditional LED Lighting Market
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Optoelectronic Components in 2022.
