Optoelectronics Market Worth $77.9 Billion by 2027, Growing at a CAGR of 9.6% From 2020 - Exclusive Report by Meticulous Research®

Optoelectronics Market by Device (LEDs, Sensors), Device Material (Gallium Nitride, Indium Phosphide), Application (Measurement, Communication, Lighting), End User (Consumer Electronics, Healthcare), and Geography-Forecast to 2027


Redding,  California, May 25, 2021 (GLOBE NEWSWIRE) -- According to a new market research report Optoelectronics Market by Device (LEDs, Sensors), Device Material (Gallium Nitride, Indium Phosphide), Application (Measurement, Communication, Lighting), End User (Consumer Electronics, Healthcare), and Geography - Forecast to 2027”, published by Meticulous Research®, the optoelectronics market is expected to grow at a CAGR of 9.6% from 2020 to 2027 to reach $ 77.9 billion by 2027 from $ 41.2 billion in 2020.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5153  

The growth in the overall optoelectronics market is mainly attributed to factors such as growing demand for smart consumer electronic devices, increasing demand for optical solutions in the healthcare & automotive industry, and increasing need for long-life & low power consuming components. The market is seeking growth opportunities from rising IIoT applications, advancements in Li-Fi technology, and innovations in optoelectronic devices.

Advancements in Li-Fi technology which allows data transmission via light sources to overcome the challenges faced by the 5G and Wi-Fi technologies, is expected to create huge growth prospects for the optoelectronic components in the coming years. The advanced smartphones and wearable with intuitive displays and camera technology is driving the demand for optoelectronic components. Moreover, the high-tech cameras also demand image sensors with the capability to capture precise high-quality images, further spurring the market growth.

The use of optical sensors for biosensing applications in the healthcare industry allows monitoring of heart rate and functions of other vital organs in the human body. Thus, the use of non-intrusive, inexpensive sensors across advanced healthcare applications offers a paradigm change in terms of consumer wellness. Moreover, the growing demand for automotive lighting for interior as well as exterior applications and demand for head-up display units is expected to propel the demand for optoelectronic components such as LEDs and display panels.

The sudden outbreak of the COVID-19 pandemic had a strong impact on businesses worldwide. The demand for optoelectronics witnessed a dip due to the shutdown of consumer electronics, automobile, industrial, and other manufacturing facilities across the globe. However, the market is expected to gain traction in 2021 with the opening up of manufacturing facilities at their full operating capacity to meet the growing demand for optoelectronic components across various industry verticals.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5153  

Based on device, the optoelectronics market is segmented into LED, sensors, infrared components, optocoupler, photovoltaic cells, displays, and other devices. The LED segment is further bifurcated into general LED, UV LED, and OLED; whereas, the sensors segment is divided into phototransistors, photodiode, photo relay, image sensors, optical sensors, and UV sensors. The sensors segment commanded the largest share of the overall optoelectronics market in 2020, mainly attributed to the growing adoption of IoT and automation in the optoelectronics industry.

Based on device material, the optoelectronics market is segmented into gallium nitride, gallium arsenide, gallium phosphide, silicon germanium, silicon carbide, and indium phosphide. The gallium nitride segment commanded the largest share of the overall optoelectronics market in 2020. The ability to withstand high temperatures and voltages makes gallium nitride ideal for imaging and sensing applications. GaN is used in LEDs, power devices, RF components, lasers, and photonics applications. Thus, the need for enhanced efficiency, minimized power consumption, and lower system costs contributes to the GaN segment’s largest share among other device materials in the optoelectronics market.

Based on application, the optoelectronics market is segmented into lighting, security & surveillance, communication, measurement, displays, and other applications. The measurement segment commanded the largest share of the overall optoelectronics market in 2020. Rising machine vision applications and the growing need for automated monitoring, control, and analysis of various operational processes are contributing to the growth of measurement applications in the optoelectronics market.

Quick Buy – Optoelectronics Market Research Report: https://www.meticulousresearch.com/Checkout/99799559

Based on industry vertical, the optoelectronics market is segmented into automotive, consumer electronics, aerospace & defense, IT & telecommunication, healthcare, food & beverage, energy & utility, residential, industrial, commercial, and other industry verticals. The consumer electronics segment commanded the largest share of the overall optoelectronics market in 2020. Advancement in electronic devices and increasing adoption of smart connected devices is driving the growth of consumer electronics devices in the optoelectronics market.

Based on geography, the global optoelectronics market is segmented into North America (U.S., Canada), Europe (U.K., Germany, France, Spain, Italy, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Indonesia, Australia, and Rest of Asia-Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of the Middle East & Africa), and Latin America (Brazil, Mexico, Argentina, Rest of Latin America). Asia-Pacific region accounted for the largest share of the global optoelectronics market in 2020, followed by Europe and North America. The largest share of this region is mainly attributed to the strong presence of large consumer electronics companies such as Samsung and Sony Corporation and rapidly growing industrial automation. Asia-Pacific is also projected to grow at the highest CAGR during the forecast period.

The key players operating in the global optoelectronics market are Rohm Co., Ltd (Japan), Renesas Electronics Corporation (Japan), Vishay Intertechnology, Inc. (U.S.), Hamamatsu Photonics K.K. (Japan), Osram Licht AG (Germany), ON Semiconductor Corporation (U.S.), Cree, Inc. (U.S.), TT Electronics plc (U.K.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Panasonic Corporation (Japan), General Electric Company (U.S.), Sharp Corporation (Japan), Broadcom (U.S.), and Texas Instruments (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/optoelectronics-market-5153  

Report Scope

Optoelectronics Market, by Device

  • LEDs
    • General LEDs
    • UV LEDs
    • OLEDs
  • Sensors
    • Phototransistors
    • Photodiodes
    • Photo Relays
    • Image Sensors
      • CMOS Image Sensors
      • CCD Image Sensors
      • Hybrid Image Sensors
    • Optical Sensors
    • UV Sensors
  • Infrared Components
    • Detectors
    • Transceivers
    • Emitters
  • Optocouplers
  • Photovoltaic Cells/Solar Cells
  • Displays
  • Others

Optoelectronics Market, by Device Material

  • Gallium Nitride
  • Gallium Arsenide
  • Gallium Phosphide
  • Silicon Germanium
  • Silicon Carbide
  • Indium Phosphide

Optoelectronics Market, by Application

  • Lighting
  • Security & Surveillance
  • Communication
  • Measurement
  • Displays
  • Others

Optoelectronics Market, by End User

  • Automotive
  • Consumer Electronics
  • Aerospace & Defense
  • IT & Telecommunication
  • Healthcare
  • Food & Beverage
  • Energy & Utilities
  • Residential
  • Industrial
  • Commercial
  • Others

Optoelectronics Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Australia
    • Rest of Asia-Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5153  

Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Reports:

Semiconductor and Circuit Manufacturing Market by Component (Memory, MPUs, MCUs, DSPs), Semiconductor (Intrinsic, Extrinsic), Material (Silicon, Germanium), Application (Consumer, Automotive, Industrial, Military and Civil Aerospace)—Global Forecast to 2027

https://www.meticulousresearch.com/product/semiconductor-and-circuit-manufacturing-market-5092

Interactive Displays Market by Product (Interactive Flat Panel Displays, Interactive Whiteboards, Interactive Kiosks, Interactive Video Walls), Panel Size, Technology, End User (Retail, Healthcare, Corporate and Government, Education, Hospitality), and Geography—Global Forecast to 2027

https://www.meticulousresearch.com/product/interactive-display-market-5125

Digital Signage Market Product Type (Videowall, Kiosk, Menu boards and Billboards) Component (Hardware (LCD, LED and OLED)), Services), Application, Industry Vertical (Retail, Hospitality, Entertainment, Transportation, Healthcare) - Global Forecast to 2027

https://www.meticulousresearch.com/product/digital-signage-market-5090

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding, 
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com 
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/328/optoelectronics-market-2027

 

Coordonnées