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Optoelectronics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Component (Light-Emitting Diode (LED), Laser Diode, Sensors, Optocouplers, Photovoltaic Cells, Others), By Material (Gallium Nitride, Gallium Arsenide, Gallium Phosphide, Silicon Germanium, Silicon Carbide, Indium Phosphide), By End-User (Automotive, Aerospace & Defense, Consumer Electronics, Information Technology, Healthcare, Others), By Region, Competition

September 2023 | 180 pages | ID: O6EF089580ADEN
TechSci Research

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The global optoelectronics market is expected to expand in the upcoming years as a result of rising demand for optical solutions in the healthcare and automotive industries, rising demand for smart consumer electronics devices, and rising demand for long-lasting and low-power consuming components. However, high initial manufacturing and fabrication costs are expected to stifle market growth. Because of the proliferation of IIoT platforms, advancements in Li-Fi technology, and innovations in optoelectronic devices, the market is expected to see enormous growth opportunities.

Optoelectronics is the technology for light-emitting as well as light-detecting devices. The technology is widely considered a sub-discipline of photonics, basically applying the physical science of light. Optoelectronics is quickly becoming a fast-emerging technology field that involves using electronic devices to source, detect, and control light. These devices can be a part of numerous applications, including automatic access control systems, military services, medical equipment, and telecommunications. The optoelectronics field is widely broad ranged along with the variations in the devices that includes image pick-up devices, elements and LEDs, optical storage, information displays, remote sensing systems, and optical communication systems. The most common optoelectronic devices that directly converts the photons and electrons are LEDs, solar cells and photodiodes & laser-diodes.

Increased Demand for Miniaturized Electronic Devices is Fueling the Market Growth

The global optoelectronics market is escalating at a very high rate due to the growing demand for miniaturized semiconductor components such as ICs (Integrated Circuits). The consumer electronics industry is focusing on manufacturing miniaturized personal electronics using nanotechnology-based semiconductor chips, which have high efficiency and are less power-consuming. The semiconductor components manufactured from the photolithography equipment include ICs, semiconductor chips, sensors, and LED displays. Therefore, the growing demand for miniaturized electronic devices, is in turn anticipated to grow the adoption of high efficiency optoelectronics products for the forecast period.

Expansion of Semiconductor Industry is Driving the Market Growth

The emergence of advanced consumer products in the consumer electronics industry is expected to drive the global optoelectronics market during the forecast period. The transition of electronic goods from fully automated systems toward the emergence of a smart home that interconnects all the household devices to create a single controlling unit is expected to result in the high adoption of electronics products based on the light applications which, in turn, is expected to drive the growth of the global optoelectronics market.

Growing Strategic Partnerships are Driving the Market Growth

Strategic partnerships are happening in the market, shaping the optoelectronics market for the technologically developed population. Many companies operating in optoelectronics are undergoing partnerships to meet customer demands. For instance, in 2019, LITE-ON technology corporation, an optoelectronics components manufacturing company, signed a strategic partnership agreement with II-VI Incorporated, one of the lead manufacturers of optical materials and semiconductors in America. This partnership is expected to manufacture at high volume and commercialize packaged semiconductor lasers for capturing the mass market of light detection and ranging (LiDAR). Similarly, in 2021, Global Foundries, a semiconductor manufacturing company, improved and continued its strategic partnership with Raytheon, a commercial electronics manufacturing company, to develop a new gallium nitride on silicon.

Increasing Demand for Luxury and Ultra-Luxury Vehicles is Propelling the Market Growth

The increasing demand for luxury and ultra-luxury vehicles is expected to drive the growth of the optoelectronics market. Luxury vehicles refer to vehicles that provide comfort, luxury, and quality. The motivation to improve the safety and lighting of the vehicles and the continuous focus on the R&D activities is expected to lead to the growth of optoelectronics in luxury vehicles. Optoelectronics is used in new cars to automate the vehicle functions such as brake lights and headlights. As a result, increasing sales of luxury and ultra-luxury vehicles increase the demand for the optoelectronics market. According to FADA (Federation of Automobile Dealers Associations), a national body representing automobile dealers in India, in Dec 2021, retail luxury car sales increased by 19.7% due to high inventory and dealership growth with the OEMs. Therefore, the increasing sales of luxury and ultra-luxury vehicles drive the optoelectronics market.

Market Segmentation

Based on component, the market is fragmented into light-emitting diode (LED), laser diode, sensors, optocouplers, photovoltaic cells, and others. Based on material, the market is further split into gallium nitride, gallium arsenide, gallium phosphide, silicon germanium, silicon carbide and indium phosphide. Based on the end-user, the market is segmented into automotive, aerospace & defense, consumer electronics, information technology, healthcare and others. On the basis of region, the market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

General Electric Company, Panasonic Corporation, Samsung Electronics, Omnivision Technologies Inc., Sony Corporation, Hamamatsu Photonics K.K., Osram Licht AG, ON Semiconductor, Texas Instruments, Micropac Industries, are among the major market players driving the growth of the global optoelectronics market.

Report Scope:

In this report, the global optoelectronics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
  • Optoelectronics Market, By Component:
    • Light-Emitting Diode (LED)
    • Laser Diode
    • Sensors
    • Optocouplers
    • Photovoltaic Cells
    • Others
  • Optoelectronics Market, By Material:
    • Gallium Nitride
    • Gallium Arsenide
    • Gallium Phosphide
    • Silicon Germanium
    • Silicon Carbide
    • Indium Phosphide
  • Optoelectronics Market, By End User:
    • Automotive
    • Aerospace & Defense
    • Consumer Electronics
    • Information Technology
    • Healthcare
    • Others
  • Optoelectronics Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Italy
    • Middle East & Africa
      • Israel
      • Turkey
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global optoelectronics market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
1. SERVICE OVERVIEW


2. RESEARCH METHODOLOGY


3. IMPACT OF COVID-19 ON GLOBAL OPTOELECTRONICS MARKET


4. EXECUTIVE SUMMARY


5. VOICE OF CUSTOMERS


6. GLOBAL OPTOELECTRONICS MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Component (Light-Emitting Diode (LED), Laser Diode, Sensors, Optocouplers, Photovoltaic Cells, Others)
  6.2.2. By Material (Gallium Nitride, Gallium Arsenide, Gallium Phosphide, Silicon Germanium, Silicon Carbide, Indium Phosphide)
  6.2.3. By End-User (Automotive, Aerospace & Defense, Consumer Electronics, Information Technology, Healthcare, Others)
  6.2.4. By Region
6.3. By Company (2022)
6.4. Market Map

7. NORTH AMERICA OPTOELECTRONICS MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Component
  7.2.2. By Material
  7.2.3. By End-User
  7.2.4. By Country
7.3. North America: Country Analysis
  7.3.1. United States Optoelectronics Market Outlook
    7.3.1.1. Market Size & Forecast
      7.3.1.1.1. By Value
    7.3.1.2. Market Share & Forecast
      7.3.1.2.1. By Component
      7.3.1.2.2. By Material
      7.3.1.2.3. By End-User
  7.3.2. Canada Optoelectronics Market Outlook
    7.3.2.1. Market Size & Forecast
      7.3.2.1.1. By Value
    7.3.2.2. Market Share & Forecast
      7.3.2.2.1. By Component
      7.3.2.2.2. By Material
      7.3.2.2.3. By End-User
  7.3.3. Mexico Optoelectronics Market Outlook
    7.3.3.1. Market Size & Forecast
      7.3.3.1.1. By Value
    7.3.3.2. Market Share & Forecast
      7.3.3.2.1. By Component
      7.3.3.2.2. By Material
      7.3.3.2.3. By End-User

8. ASIA-PACIFIC OPTOELECTRONICS MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Component
  8.2.2. By Material
  8.2.3. By End-User
  8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
  8.3.1. China Optoelectronics Market Outlook
    8.3.1.1. Market Size & Forecast
      8.3.1.1.1. By Value
    8.3.1.2. Market Share & Forecast
      8.3.1.2.1. By Component
      8.3.1.2.2. By Material
      8.3.1.2.3. By End-User
  8.3.2. Japan Optoelectronics Market Outlook
    8.3.2.1. Market Size & Forecast
      8.3.2.1.1. By Value
    8.3.2.2. Market Share & Forecast
      8.3.2.2.1. By Component
      8.3.2.2.2. By Material
      8.3.2.2.3. By End-User
  8.3.3. South Korea Optoelectronics Market Outlook
    8.3.3.1. Market Size & Forecast
      8.3.3.1.1. By Value
    8.3.3.2. Market Share & Forecast
      8.3.3.2.1. By Component
      8.3.3.2.2. By Material
      8.3.3.2.3. By End-User
  8.3.4. India Optoelectronics Market Outlook
    8.3.4.1. Market Size & Forecast
      8.3.4.1.1. By Value
    8.3.4.2. Market Share & Forecast
      8.3.4.2.1. By Component
      8.3.4.2.2. By Material
      8.3.4.2.3. By End-User
  8.3.5. Australia Optoelectronics Market Outlook
    8.3.5.1. Market Size & Forecast
      8.3.5.1.1. By Value
    8.3.5.2. Market Share & Forecast
      8.3.5.2.1. By Component
      8.3.5.2.2. By Material
      8.3.5.2.3. By End-User

9. EUROPE OPTOELECTRONICS MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Component
  9.2.2. By Material
  9.2.3. By End-User
  9.2.4. By Country
9.3. Europe: Country Analysis
  9.3.1. Germany Optoelectronics Market Outlook
    9.3.1.1. Market Size & Forecast
      9.3.1.1.1. By Value
    9.3.1.2. Market Share & Forecast
      9.3.1.2.1. By Component
      9.3.1.2.2. By Material
      9.3.1.2.3. By End-User
  9.3.2. United Kingdom Optoelectronics Market Outlook
    9.3.2.1. Market Size & Forecast
      9.3.2.1.1. By Value
    9.3.2.2. Market Share & Forecast
      9.3.2.2.1. By Component
      9.3.2.2.2. By Material
      9.3.2.2.3. By End-User
  9.3.3. France Optoelectronics Market Outlook
    9.3.3.1. Market Size & Forecast
      9.3.3.1.1. By Value
    9.3.3.2. Market Share & Forecast
      9.3.3.2.1. By Component
      9.3.3.2.2. By Material
      9.3.3.2.3. By End-User
  9.3.4. Italy Optoelectronics Market Outlook
    9.3.4.1. Market Size & Forecast
      9.3.4.1.1. By Value
    9.3.4.2. Market Share & Forecast
      9.3.4.2.1. By Component
      9.3.4.2.2. By Material
      9.3.4.2.3. By End-User
  9.3.5. Spain Optoelectronics Market Outlook
    9.3.5.1. Market Size & Forecast
      9.3.5.1.1. By Value
    9.3.5.2. Market Share & Forecast
      9.3.5.2.1. By Component
      9.3.5.2.2. By Material
      9.3.5.2.3. By End-User

10. SOUTH AMERICA OPTOELECTRONICS MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Component
  10.2.2. By Material
  10.2.3. By End-User
  10.2.4. By Country
10.3. South America: Country Analysis
  10.3.1. Brazil Optoelectronics Market Outlook
    10.3.1.1. Market Size & Forecast
      10.3.1.1.1. By Value
    10.3.1.2. Market Share & Forecast
      10.3.1.2.1. By Component
      10.3.1.2.2. By Material
      10.3.1.2.3. By End-User
  10.3.2. Argentina Optoelectronics Market Outlook
    10.3.2.1. Market Size & Forecast
      10.3.2.1.1. By Value
    10.3.2.2. Market Share & Forecast
      10.3.2.2.1. By Component
      10.3.2.2.2. By Material
      10.3.2.2.3. By End-User
  10.3.3. Colombia Optoelectronics Market Outlook
    10.3.3.1. Market Size & Forecast
      10.3.3.1.1. By Value
    10.3.3.2. Market Share & Forecast
      10.3.3.2.1. By Component
      10.3.3.2.2. By Material
      10.3.3.2.3. By End-User

11. MIDDLE EAST & AFRICA OPTOELECTRONICS MARKET OUTLOOK

11.1. Market Size & Forecast
  11.1.1. By Value
11.2. Market Share & Forecast
  11.2.1. By Component
  11.2.2. By Material
  11.2.3. By End-User
  11.2.4. By Country
11.3. Middle East & Africa: Country Analysis
  11.3.1. Israel Optoelectronics Market Outlook
    11.3.1.1. Market Size & Forecast
      11.3.1.1.1. By Value
    11.3.1.2. Market Share & Forecast
      11.3.1.2.1. By Component
      11.3.1.2.2. By Material
      11.3.1.2.3. By End-User
  11.3.2. Turkey Optoelectronics Market Outlook
    11.3.2.1. Market Size & Forecast
      11.3.2.1.1. By Value
    11.3.2.2. Market Share & Forecast
      11.3.2.2.1. By Component
      11.3.2.2.2. By Material
      11.3.2.2.3. By End-User
  11.3.3. UAE Optoelectronics Market Outlook
    11.3.3.1. Market Size & Forecast
      11.3.3.1.1. By Value
    11.3.3.2. Market Share & Forecast
      11.3.3.2.1. By Component
      11.3.3.2.2. By Material
      11.3.3.2.3. By End-User
  11.3.4. Saudi Arabia Optoelectronics Market Outlook
    11.3.4.1. Market Size & Forecast
      11.3.4.1.1. By Value
    11.3.4.2. Market Share & Forecast
      11.3.4.2.1. By Component
      11.3.4.2.2. By Material
      11.3.4.2.3. By End-User

12. MARKET DYNAMICS

12.1. Drivers
  12.1.1. Increased demand for miniaturized electronic device
  12.1.2. Expansion of semiconductor industry
  12.1.3. Growing strategic partnerships
12.2. Challenges
  12.2.1. High manufacturing costs
  12.2.2. Lack of skilled manpower

13. MARKET TRENDS & DEVELOPMENTS

13.1. Increasing demand for luxury and ultra-luxury vehicles
13.2. Growing government initiatives
13.3. Rising demand for optical solutions in healthcare industry
13.4. Expanding consumer electronics sector
13.5. Trend of rising sensor technology in electronics products

14. MERGERS& ACQUISITIONS/RECENT DEVELOPMENTS/NEW ENTRANTS


15. COMPANY PROFILES

15.1. General Electric Company
  15.1.1. Business Overview
  15.1.2. Key Revenue & Financials
  15.1.3. Recent Developments
  15.1.4. Key Personnel
  15.1.5. Key Product/Service Offered
15.2. Panasonic Corporation
  15.2.1. Business Overview
  15.2.2. Key Revenue & Financials
  15.2.3. Recent Developments
  15.2.4. Key Personnel
  15.2.5. Key Product/Service Offered
15.3. Samsung Electronics
  15.3.1. Business Overview
  15.3.2. Key Revenue & Financials
  15.3.3. Recent Developments
  15.3.4. Key Personnel
  15.3.5. Key Product/Service Offered
15.4. Omnivision Technologies Inc.
  15.4.1. Business Overview
  15.4.2. Key Revenue & Financials
  15.4.3. Recent Developments
  15.4.4. Key Personnel
  15.4.5. Key Product/Service Offered
15.5. Sony Corporation
  15.5.1. Business Overview
  15.5.2. Key Revenue & Financials
  15.5.3. Recent Developments
  15.5.4. Key Personnel
  15.5.5. Key Product/Service Offered
15.6. Hamamatsu Photonics K.K.
  15.6.1. Business Overview
  15.6.2. Key Revenue & Financials
  15.6.3. Recent Developments
  15.6.4. Key Personnel
  15.6.5. Key Product/Service Offered
15.7. Osram Licht AG
  15.7.1. Business Overview
  15.7.2. Key Revenue & Financials
  15.7.3. Recent Developments
  15.7.4. Key Personnel
  15.7.5. Key Product/Service Offered
15.8. ON Semiconductor
  15.8.1. Business Overview
  15.8.2. Key Revenue & Financials
  15.8.3. Recent Developments
  15.8.4. Key Personnel
  15.8.5. Key Product/Service Offered
15.9. Texas Instruments
  15.9.1. Business Overview
  15.9.2. Key Revenue & Financials
  15.9.3. Recent Developments
  15.9.4. Key Personnel
  15.9.5. Key Product/Service Offered
15.10. Micropac Industries
  15.10.1. Business Overview
  15.10.2. Key Revenue & Financials
  15.10.3. Recent Developments
  15.10.4. Key Personnel
  15.10.5. Key Product/Service Offered

16. STRATEGIC RECOMMENDATIONS


17. ABOUT US & DISCLAIMER

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