Global Optoelectronics Market - 2019-2026
Global Optoelectronics Market Overview
Optoelectronics is an emerging technology for electronic devices that detect, source and control light. These devices can convert electrical energy into photon signals for various purposes such as telecommunications, medical equipment, and general science.
The global optoelectronics market was worth USD XX billion in 2018 and is forecast to reach USD XX billion by 2026, growing at a CAGR of XX% during the forecast period 2019-2026.
Global Optoelectronics Market– Market Dynamics
Factors such as laser transmitters for high-speed optical networks, demand for digital cameras, increase in smartphones sales, low power consumption, the growing use of optoelectronic systems in the automotive sector are driving factors for the market growth.
Also, the surge for organic LEDs (OLEDs), innovations such as plasmonic nanostructures, and microscopic light bulbs will provide lucrative opportunities for the optoelectronics market. For instance, in March 2018, Samsung Electronics launched its flagship line of 2018 QLED TVs and AV products at the 2018 First Look New York event at the American Stock Exchange building in Manhattan.
However, the high cost of energy efficient displays, complex operational usage, and cheaper substitute technologies will hamper market growth.
Global Optoelectronics Market– Segmentation Analysis
On the basis of component type, the global optoelectronics market is segmented into Light Emitting Diodes (LED), Optocouplers, Infrared Components, and Others. Light Emitting Diodes (LED) dominates the market due to increasing demand for power-efficient illuminating systems across the residential, commercial, and industrial sector.
Although optoelectronic sensors offer significant advantages over other types of sensors, they are expensive to manufacture. To improve fabrication techniques and device reliability and to reduce costs. The development of sensors networks plays an essential role in military and aerospace. For instance, in August 2018, OSI Optoelectronics launched high-response N-on-P YAG series of photodetectors that are optimized at 1060 nm for critical military and aerospace sensing applications.
Global Optoelectronics Market– Geographical Analysis
Geographically, the global optoelectronics market is segmented into North America, South America, Europe, Asia Pacific, and Middle East and Africa. North America dominates the market owing to thriving consumer electronics and the fact that the majority population is acquainted with sophisticated electronic appliances.
The companies are focused on the business expansion to maintain a competitive edge over other market players. For Instance, in October 2018, Rutronik Inc. has expanded its franchise agreement in North America with Osram Opto Semiconductors to serve and grow its customer base in this region.
Global Optoelectronics Market– Competitive Analysis
The global optoelectronics market is competitive with the presence of various small and large players in the market. Multinational companies are dominating the global optoelectronics market in recent years. OSI Systems, Inc., Cree, Inc., NeoPhotonics Corporation, Panasonic Corporation, and Philips are the prominent players in the global optoelectronics market. OSI Systems, Inc. is one of the major company in optoelectronics and is enhancing the market through funding and acquisition. For instance, in October 2018, OSI Systems, Inc. has received an order for approximately USD 10 million to provide electronic sub-assemblies for use in devices of a leading medical technology original equipment manufacturer.
For instance, in April 2018, OSI Optoelectronics has acquired Luna Innovation’s Optoelectronic Business.
Why purchase the report
• Visualize the composition of the Global Optoelectronics Market products across each indication, in terms of component type, and application highlighting the critical commercial assets and players.
• Identify commercial opportunities in plant phenotyping products market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the plant phenotyping products levels 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the essential plant phenotyping products of all major market players.
• Raw Material Suppliers/ Buyers
• Product Suppliers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies