Optoelectronic Components Market Scope
Optoelectronic devices and components are those electronic devices that operate on both light and electrical currents. The growth of the optoelectronic components industry is mainly driven by the increased use of infrared components in consumer electronics & automobiles, the long life & low power consumption, demand for improved imaging & optical sensing solutions in the healthcare vertical, and the suitable physical properties of optoelectronic sensors to operate in harsh environments.
According to AMA, the Global Optoelectronic Components market is expected to see growth rate of 5.1% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Optoelectronic Components market throughout the predicted period.
Hamamatsu (Japan), Osram (Germany), TT Electronics (United Kingdom), Vishay (United States), ON Semiconductor (United States), Cree (United States), Trumpf (Germany), SICK AG (Germany), Samsung (South Korea), Sony (Japan) and Broadcom (United States) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Optoelectronic Components market by Type (Sensor, LED, Laser Diode and Infrared Components), by Application (Measurement, Lighting, Communications, Security & Surveillance and Others) and Region with country level break-up.
On the basis of geography, the market of Optoelectronic Components has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Long Life and Low Power Consumption and Growing Demand for Improved Imaging and Optical Sensing Solutions in Healthcare Vertical
Market Growth Drivers:
Raised use of Infrared Components in Consumer Electronics and Automobiles and High demand due to Ability to Operate in Extreme Environment
Challenges:
High Cost of Raw Materials
Restraints:
Availability of Cheaper Substitute Technologies to LED
Opportunities:
Advancements in Technology Such as Li-Fi, Innovation for Improvements in Functional Capabilities and Promising Industrial IoT Applications
Market Leaders and their Expansionary Development Strategies
In April 2019, Vishay (US) strengthened its product portfolio by adding two series of optocouplers, DIP-6 and SMD-6. Both optocouplers offer a high off-state voltage of 800 V.
In February 2019, Osram (Germany) acquired Ring Automotive, which is a British manufacturer and distributor of vehicle lighting and auto-electrical parts. The acquisition will enable OSRAM to strengthen its expertise in automotive lighting and tap into additional sales potential by using the distribution channels of Ring Automotive.
Key Target Audience
Dealers and distributors, Raw material suppliers and distributors, Traders, exporters, and importers and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.