Optoelectronics Market Forecasts to 2028 – Global Analysis By Component (Connector & Hardware, Storage Media, Transceiver Modules, Fiber & Cable, Display Modules, Source & Detectors), Type (Couplers, CMOS Image Sensors, Displays, CCD Image Sensors, Laser

Optoelectronics Market Forecasts to 2028 – Global Analysis By Component (Connector & Hardware, Storage Media, Transceiver Modules, Fiber & Cable, Display Modules, Source & Detectors), Type (Couplers, CMOS Image Sensors, Displays, CCD Image Sensors, Laser Diode, Lamps), Vehicle Type (Buses, Passenger car, Light Commercial Vehicles, Trucks), Electric Vehicle, Application, End User and Geography

According to Stratistics MRC, the Global Optoelectronics Market is accounted for $7.39 billion in 2022 and is expected to reach $18.13 billion by 2028 growing at a CAGR of 16.13% during the forecast period. The advancement of telecommunication networks depends heavily on optoelectronics, and the devices are used to drive down the price of high-speed network termination hardware. Injection laser diodes, quantum cascade lasers, photoconductive camera tubes, photoemissive camera tubes, and integrated optical circuits (IOC) are examples of devices that use the notion of optoelectronics, a branch of photonics, which is the study of the integration of electrical and optical components.

According to the Federation of Automobile Dealers Associations (FADA), a national body representing automobile dealers of India, in December 2021, retail luxury car sales increased by 19.7% due to the growth of high inventory and dealerships with the OEMs.

Market Dynamics:

Driver:

Increased optoelectronics applications

Optoelectronics produces great beam-quality light with a minimum amount of power and energy consumption, and it is widely used in automotive, telecommunications, and industrial applications. Numerous industrial applications use optoelectronics, such as proximity sensing, colour quality control, scanners, and robots. Optoelectronic components have become popular among industrial enterprises because they offer better performance at low cost and long-term operation. The main factors influencing potential for players in the optoelectronics business are the ease of availability and the quickly rising demand for these products.

Restraint:

Easily available and affordable substitutes for the technology

Optoelectronic components are offered with a variety of alternatives. However, LEDs are both expensive and challenging to produce. Additionally, LED lighting frequently uses yellow phosphorous. The blue LED chip may be used to illuminate novel materials made from nanoparticles of cadmium selenide and zinc selenide. In contrast to phosphors, they degrade in terms of quality and performance with time and at greater working temperatures. By altering the particle's size, it is possible to accurately control the colour of the light that it emits. In light of this, the ease with which inexpensive alternatives are available, market expansion may be constrained.

Opportunity:

Increasing use of high-brightness LEDs

The growing adoption of high-brightness LEDs in LCD televisions, tablets, and smartphone backlighting systems is what will ultimately shape the optoelectronics business. Additionally, this optoelectronics industry is expected to expand significantly over the course of the next five years due to the growing usage of LEDs in lighting systems. The worldwide optoelectronic market will adapt more quickly as a result of rising demand in the automotive industry, particularly the growing adoption of electric cars, autonomous trucks, and automobiles.

Threat:

High cost of optoelectronics-based products

Optoelectronics-based goods are more expensive than normal items, which is frequently one of the obstacles preventing market expansion. Since LCD screens are less expensive than LED screens, customers can select for alternate technologies in place of optoelectronic items. When compared to ordinary items, changing replacement components is more expensive. Cost thus acts as a limiting factor on the growth of the optoelectronics industry. The optoelectronic market depends heavily on LCD displays; therefore the decline in sales will have a significant impact.

Covid-19 Impact

Both companies and the general public's health were significantly impacted by the COVID-19 pandemic's unexpected onset. Governments all across the world enacted lockdowns to limit the virus's spread, which shut down on-site commercial activities and manufacturing operations as well as supply networks and production schedules. Due to this situation, there was a shortage of certain components needed for residential and medical applications. Due to the closure of production plants for consumer electronics, automobiles, industrial, and other products throughout the world, demand for optoelectronics decreased.

The Laser Diodes segment is expected to be the largest during the forecast period

The Laser Diodes segment is estimated to have a lucrative growth. With capabilities spanning from fibre DVD/Blu-ray recorders to printing and networking technologies, optical communications, and barcode readers, laser diodes are one of the most often used optoelectronic components in laser production. Additionally, widespread use of electronic devices has led to the development of standard display technology, with customers demanding displays with higher resolution and efficiency. This increased demand for electronic devices is boosting the optoelectronics sector. For a variety of industrial applications, such as cutting, welding, and manufacturing, high power lasers are in high demand. Numerous sectors, including the automotive sector, use laser diodes. In the automotive industry, laser diodes are used to create car headlights that increase driver visibility and increase road safety.

The Consumer Electronics segment is expected to have the highest CAGR during the forecast period

The Consumer Electronics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increasing use of optoelectronic components in their production as well as improvements made to electronic gadgets like smartphones, high-end cameras, smart television displays, LED projectors, organic LEDs, and flexible 3-D displays.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period. A large portion of the market's high income is expected to come from the Asia Pacific region's customers' steadily rising power spending. In terms of industrial robots and factory automation, Japan is the global leader. Industrial automation is being used by several businesses across many industries to change how they operate. Optoelectronics is in high demand in the area since it is a crucial part of robotics and industrial automation.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to widespread use of optoelectronics in the medical area, the market for these products is expanding significantly in nations like the US and Canada. Vendors in North America are creating and exploring the integration of optoelectronics in this industry since the optoelectronics market is in a growing phase.

Key players in the market

Some of the key players profiled in the Optoelectronics Market include Huawei , OFilm, Philips, Panasonic Corp, Wistron, Fujitsu, Toshiba Corp., OmniVision Technologies Inc., Koninklijke Phillips N.V., Samsung Electronics, Sony Corporation, Vishay Technology Inc. , General Electric and Cree Inc.

Key Developments:

In September 2022, OFilm, a Chinese optoelectronics production, and assembly firm, stated that its wholly-owned subsidiary has accomplished the very first technological docking of a highly pure lidar in collaboration with various local car manufacturing companies. With its uniform design, this pure solid-state lidar subverts the system design of classic robotic or semi-mechanical semi-solid-state lidars. Because of the chip mode of its reception and transmitting modules, this lidar resembles a high-end camera.

In May 2022, Huawei and Nationstar Optoelectronics launched a collaborative innovation center to undertake in-depth innovation and manufacture and industrialize important core technologies in response to market and industry development demands. Nationstar Optoelectronics contributed expertise in LED display, backlight, and other disciplines. Huawei, on the other side, offered knowledge in semiconductors, AI, 5G, and other areas. The partnership's major focus was on the development of small and micro-LED display technology.

In July 2021, Wistron announced the acquisition of 100% of the stock of Kaohsiung OptoElectronics Inc. (KOE), an entirely owned subsidiary division of JDI Taiwan Inc.

Components Covered:
• Connector & Hardware
• Storage Media
• Transceiver Modules
• Fiber & Cable
• Display Modules
• Source & Detectors
• Other Components

Types Covered:
• Couplers
• CMOS Image Sensors
• Displays
• CCD Image Sensors
• Laser Diode
• Lamps
• Other Types

Vehicle Types Covered:
• Buses
• Passenger car
• Light Commercial Vehicles
• Trucks
• Other Vehicle Types

Electric Vehicles Covered:
• Hybrid Electric Vehicles (HEV)
• Fuel-Cell Electric Vehicle (FCEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

Applications Covered:
• Lighting
• Backlight Control
• Position Sensors
• Convenience and Climate
• Other Applications

End Users Covered:
• Automotive
• Communication
• Consumer Electronics
• Manufacturing
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements