The global optoelectronic component market is highly competitive due to the presence of large number of regional and international players. In the coming years, the completion in the market is likely to increase due to growing number of new players. However, new players need to come up with innovative ideas and a strong distribution chain to hold larger share in the global market. Leading players in the market are focusing in expanding their business through mergers and acquisitions. Texas Instruments, Inc., Cree, Inc., Sharp Corporation, OSRAM, and Avago Technologies are some of the leading players operating in the global market.
In a recent report published by Transparency Market
Research, the global optoelectronic components market is anticipated to rise at
CAGR 9.7% during the forecast period between 2015 and 2023. During the forecast
period, the market valuation is projected to touch US$137 bn by the end of
2023. In 2014, market valuation was US$60bn.
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Based on component, the LED driver and IC component held
37.6% share in terms of revenue in 2014. This segment is likely to attain
a valuation of US$50 bn by the end of 2023 progressing from US$22 bn earned in
2014. Geographically, Asia Pacific led the global optoelectronic components
market in terms of revenue, followed by North America. Growing popularity in
Asia Pacific of optoelectronic components, as they are cost- effective and
reliable are the key factor for its growth.
Reducing Power Consumption to Accelerate Optoelectronic
Component Market
The demand for optoelectronic component is high in customer
electronics. It helps in producing image sensors, LED drivers and ICs, laser
diodes, and similar other devices are projected to provide a fillip to the
global optoelectronic component market. In addition, usage of optoelectronic
component helps in reducing power consumption, thus further augmenting its
demand. Moreover, optoelectronic component helps in detecting and controlling
light and it converts electrical signals into infrared or visible energy or
vice versa. It is also used in photovoltaic power supplies, monitor and control
circuits, electric eyes, and optical fiber communications systems. These
factors are likely to drive the global optoelectronic component market in the
near future.
Easy Availability of Low-Cost Substitute Technologies to
Deter Market Growth
On the other hand, easy availability of the low-cost
substitute technologies and expensive devices are expected to hamper the growth
of the global optoelectronic component market. However, the technological
advancements in the LED communication and increasing investment in research and
development are expected to boost the demand for optoelectronic component.
Moreover, increasing use of low power consumption of optoelectronic components,
growing use of infrared components in cameras and automobiles are some of the
other factors pushing the growth of the market.
The information presented in this review is based on a TMR
report, titled “Optoelectronic Components Market (Components – LED Driver and
IC (General LED and HV LED), OLED, Image Sensor (CMOS Image Sensor and CCD
Image Sensor), Infrared Component (Infrared Emitting Diode, Infrared Detector,
and Irda Transceiver), Optocouplers (Isolation Amplifier, IGBT Gate Driver,
High Speed Optocoupler, 4 Pin Optocoupler, and 6 Pin Optocoupler), and Laser
Diode (Near Infrared, Red Laser Diode, Blue Laser Diode, and Green Laser
Diode)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2015 – 2023.”
The Global Optoelectronic Components Market has been
segmented as presented below:
Global Optoelectronic Components Market by Components
- LED
Driver and IC
- General
LED
- HV
LED
- OLED
- Image
Sensor
- CMOS
Image Sensor
- CCD
Image Sensor
- Others
- Infrared
Component
- Infrared
Emitting Diode
- Irda
Transceiver
- Infrared
Detector
- Optocouplers
- 4
Pin Optocoupler
- 6
Pin Optocoupler
- High
Speed Optocoupler
- IGBT
Gate Driver
- Isolation
Amplifier
- Others
- Laser
Diode
- Near
Infrared
- Red
Laser Diode
- Blue
Laser Diode
- Green
Laser Diode
- Others
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