With 11.8% CAGR, Opto Semiconductors Market Size worth USD 97.52 Billion in 2028
As per the report by Fortune Business Insights, the global Opto Semiconductors Market size is projected to reach USD 97.52 billion in 2028, at a CAGR of 11.8% during the forecast period, 2021-2028
Pune, India, Dec. 07, 2022 (GLOBE NEWSWIRE) — The global Opto Semiconductors Market Size is expected to reach USD 97.52 billion in 2028, exhibiting a CAGR of 11.8% during the forecast period. The emergence of 5G technology and demand for high-performance electric cars will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Opto Semiconductors Market, 2021-2028.” The market size stood at USD 40.48 billion in 2020.
Key Development:
March 2021: Lite-On Technology will increase production capacity for infrared (IR) LED photocouplers by 10-15%, while Everlight Electronics will amplify annual packaging capacity by 300 million chips.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 11.8% |
| 2028 Value Projection | USD 97.52 Billion |
| Base Year | 2020 |
| Opto Semiconductors Market Size in 2020 | USD 40.48 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | Type; Application; |
| Opto Semiconductors Market Growth Drivers | Adoption of Outsourcing Opto Electronics Manufacturing Services (EMS) to Boost Demand |
| Thermal & Physical Testing Precincts Opto-Semiconductors Integration to Restraint the Growth |
COVID-19 Impact:
Reduced Production of Automobiles to Impede Market amid COVID-19
The COVID 19 pandemic sent shockwaves across the world, disrupting economies. Emerging Asian countries’ growth rates slowed in 2020, as manufacturing activities in the production plants remained stagnant. The market was expected to return to normalcy by the end of 2020. However, the industry is still facing severe challenges in maintaining the supply of opto semiconductors in various sectors. Furthermore, market participants are confronting difficulty predicting future demand as the automotive and manufacturing industries have become more unpredictable, thus slowing the growth of the market. Nevertheless, the adoption of new strategies can enhance the development of this industry in the forthcoming years.
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Driving Factor:
Subcontract of Opto Electronics Manufacturing Services (EMS) to Aid Expansion
Several industrial sectors choose to outsource electronics manufacturing services (EMS) because it provides initial, high-quality goods at low prices, allowing manufacturers to obtain a competitive edge, which, in turn, will increase the opto semiconductors market growth. As outsourcing companies obtain and retain certifications, they also provide high-end users with reliable sensors, LEDs, opto couplers, and other components. This represents commitments to a concentrated community of industries in the automotive, consumer electronics, and many other markets, resulting in an increase in global demand. As a result, outsourcing opto semiconductors/electronics such as LEDs, optical sensors, opto-couplers, photonic cells, and others is expected to propel the optical semiconductor market share during the forecast period.
Regional Insights:
Research and Development Programs to Promote Market in North America
Since optoelectronic devices were invented in the United States, North America is expected to hold the largest opto semiconductors market share. Following the lockdown, the United States had the most active semiconductor research and development programs in 2019, with significant investments. As a result, the region will give the optoelectronics industry a big boost. Because of the increase in the US (North America market), South America is expected to enlarge significantly. The market in Europe is expected to expand at a steady CAGR during the forecast period. As the demand for smartphones and consumer electronics rises, so will the demand for optical semiconductors in the continent. Furthermore, in the coming years, that demand from the automotive industry would boost demand even more.
Competitive Landscape:
Prominent Companies Concentrate on Strong SalesForce to Consolidate Position
Eminent players in the global optoelectronics industry aim for quality products by focusing on a solid manufacturing and technology base, investment in a broader portfolio of power electronics products, a strong sales force, and product diversity and longevity.
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What is included in the report?
The market report provides unique insights into the market, organized data with in-depth analysis, market dynamics and aspects demonstrating development and growth, meticulous information about key market players, and gathered statistics about dominant regions. COVID-19 impact is also discussed in detail in the report.
Market Segments:
Based on type, the market is segmented into LED, image sensors, infrared components, optocouplers and laser diodes. In the coming years, image sensors are expected to develop at a rapid pace. Since the last two decades, there has been an increase in demand for these sensors, which is expected to continue. The continued technological advances, such as self-driving vehicles and image recognition for security purposes in smart end-user devices, are responsible for the development.
Based on application analysis, this market is divided into Residential & Commercial, and Industrial. With consumer electronics and automotive demand around the world, the automotive, consumer electronics, telecommunications, healthcare, energy & power, and others (military, infrastructure, etc.) industries are expected to expand at a significant CAGR. Furthermore, connected innovations have sparked a surge in demand across the automotive industry.
List of Key Players Mentioned in the Report:
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan)
- ROHM CO., LTD. (Japan)
- Vishay Intertechnology, Inc. (United States)
- Renesas Electronics Corporation. (Japan)
- ON Semiconductor (United States)
- Broadcom (United States)
- Mitsubishi Electric Corporation (Japan)
- LITE-ON Technology, Inc. (Taiwan)
- TT Electronics (United Kingdom)
- OSRAM Opto Semiconductors GmbH (Germany)
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Opto Semiconductor Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Opto Semiconductors Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- LED
- Image Sensors
- Infrared Component
- Optocouplers
- Laser Diode
- By Application (Value)
- Residential and Commercial
- Industrial
- Automotive
- Consumer Electronics
- Telecommunication
- Healthcare
- Energy & Power
- Others (Military, Utilities etc)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Type (Value)
- North America Opto Semiconductors Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- LED
- Image Sensors
- Infrared Component
- Optocouplers
- Laser Diode
- By Application (Value)
- Residential and Commercial
- Industrial
- Automotive
- Consumer Electronics
- Telecommunication
- Healthcare
- Energy & Power
- Others (Military, Utilities etc)
- By Country (Value)
- U.S.
- Canada
- By Type (Value)
- Europe Opto Semiconductors Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- LED
- Image Sensors
- Infrared Component
- Optocouplers
- Laser Diode
- By Application (Value)
- Residential and Commercial
- Industrial
- Automotive
- Consumer Electronics
- Telecommunication
- Healthcare
- Energy & Power
- Others (Military, Utilities etc)
- By Type (Value)
- Global Opto Semiconductors Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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