Global Optoelectronic Components Market to Reach $65.1 Billion by 2030
The global market for Optoelectronic Components estimated at US$46.1 Billion in the year 2023, is expected to reach US$65.1 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2023-2030. Optoelectronic Sensors, one of the segments analyzed in the report, is expected to record a 5.8% CAGR and reach US$26.6 Billion by the end of the analysis period. Growth in the Optoelectronic LEDs segment is estimated at 5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $12.3 Billion, While China is Forecast to Grow at 8.3% CAGR
The Optoelectronic Components market in the U.S. is estimated at US$12.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.4 Billion by the year 2030 trailing a CAGR of 8.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.8 Billion by the year 2030.
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