Optoelectronics Market Outlook
Aesthetic appearance is one of the most important features when lighting is concerned. Lighting in automobiles, consumer electronics, and other end-user products is an essential part of its display technology. According to a recent report published by IndustryARC, the global optoelectronics market size was $3.56 billion as of 2018. Considering the current scenario and future prospects, the global optoelectronics market is evaluated to grow at a compound annual growth rate (CAGR) of 16.59% during the forecast period of 2019 to 2025.
The report is titled “Optoelectronics Market: By Components (Phototransistors, Optocouplers and Others), By Devices (Photodiodes, LEDs and Others), By End User Industry (Medical, Telecommunication and Others) and By Geography – Forecast (2019 - 2025).” The report provides an in-depth analysis of optoelectronics market divisions such as drivers, applications, restraints, challenges, competition, and geographical distribution.
Global Optoelectronics Market: Leading Segments
The North American region is growing faster than any other region wherever optoelectronics marketplace has some demand. In 2018, North America held 35.19% of the total demand market. According to the IndustryARC analyst, the optoelectronic market is still in nascent age and the comprehensive growth has shown in the market can be justified by the huge capital investment in the research and development to explore new possibilities.
the automotive sector is the most lucrative segment in the optoelectronics market. The automotive application is projected for a healthy CAGR of 14.29% through the forecast period of 2019 to 2025.
Increased application of light emitting diodes (LED) and photo voltaic (PV)
cells at various exteriors and interior of the vehicle is the prominent reason
for the growth of the segment.
Optoelectronics Industry Analysis
Consumer Electronics: Optoelectronics refers to electronic discipline, which focuses on light-detecting and light-emitting devices. Optoelectronics is an amalgamation of elements such as injection laser diodes, quantum cascade lasers, photoconductive camera tubes, photo-emissive camera tube, and the integrated optical circuit (IOC). Display screens used in numerous consumer electronics are a part of optoelectronics market products. A wide variety of consumer electronics such as mobile, tablets, smartphones, display monitors, are benefiting the global optoelectronics market. According to GSMA[KK1] , the apex of mobile devices surpassed the mark of 9 billion units till the year 2018. The consumer electronics sector is one of the paramount reasons for the growth in the global optoelectronics market.
Automobile: Optoelectronic lighting equipment is extensively used in the automobile industry. Application of LEDs in vehicles optimizes the aesthetics, performance, and visibility for the vehicles. The sales of luxury vehicles also an important factor that induces profits in the optoelectronics markets. Changing lifestyles and increasing disposable income among the developing economies is changing the landscape of the global optoelectronics market. According to the World Economic Forum[KK2] , the global number of cars are expected to reach 2 billion, and the number of trucks will surpass the mark of 900 million by 2040. The rapidly increasing automobile production and demands from both the developed and developing economies is fuelling the global optoelectronics market growth.
Global Optoelectronics Market Trends
optoelectronics products are now being wielded in the textile and apparels
industry. A whole new segment of the latest technically inbound apparel
industry is booming in the market. Lighted shoes, T-shirts, and jackets have
started to take over sober garments available in the market. The increasing
population is resonating the growth in the global textile market, and the same
is subjected to benefit the trending techniques in the optoelectronics market.
Light emitting diode (LED) is the typically used technology in the optoelectronics market. However, advancement in the photonics industry introduced the organic light emitting diode (OLED) and active-matrix organic light emitting display (AMOLED). These displays are changing the way the population perceived display screens. These are high-efficient, high-performance and sustainable display techniques initiated. With the growing demands for advanced smartphones, smart-watches and televisions, the optoelectronics market demands will subsequently grow.
Some of the key companies identified in the report that are currently holding majority shares in the automotive coatings market are Texas Instruments Inc., Broadcom Inc., Vishay Intertechnology, Inc, Hella KGaA Hueck & Co, OSRAM Licht AG, Grupo Antolin, Koito Manufacturing Co., Ltd., Koninklijke, Philips N.V., Stanley Electric Co., Ltd., Magneti Marelli, and S.p.A.
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What can you expect from the report?
The global optoelectronics market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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