An Overview of the Global Optoelectronic Components Market
Consumer electronics is one of the biggest industries in the world today, and also a major end user of optoelectronic components. The growing use of image sensors, laser diodes, and most importantly LED drivers and ICs is expected to boost the revenues and manufacturing rates of optoelectronic components.
LED drivers and ICs form the largest optoelectronic components segment and held 37.6% of all revenue in the global market in 2014. By the end of 2023, the second largest components segment is expected to by image sensors.
Asia Pacific has consistently held the highest demand and revenue generation for optoelectronic components. This region accrued 40% of the global revenue in 2014 and is expected to show an even higher growth rate than before over the coming years.
Owing to these factors and more, the global optoelectronic components revenue generation is expected to rise at a CAGR of 9.7% from 2015 to 2023. By the end of this forecast period, the revenue generated will be close to US$137 bn, while it was valued around US$60 bn in 2014.
Asia Pacific Dominates Optoelectronic Components Revenues, the U.S. Holds Most Patent Filings
Asia Pacific generated the leading share of revenue from optoelectronic components in 2014, followed by North America with 30.8% of the revenue. Both regions have benefitted massively from the rapid adoption of optoelectronic components in multiple application areas. Most optoelectronic components are regarded at reliable and cost-effective, making them popular in Asia Pacific. Europe held the third largest revenue share from optoelectronic components in 2014 due to their growing usage in the automotive sector. Apart from consumer electronics, the Asia Pacific demand for optoelectronic components is also coming from the defense, healthcare, and aerospace sectors.
The largest number of optoelectronic components patent filings were done in 2012, while the largest publications of patents were done in 2015. Of these, the U.S. held the majority of patents, both filed and published, for optoelectronic components.
Cost-effective LED Drivers and ICs in High Demand
LED drivers can drastically improve the function of an LED system by transforming the incoming electricity to a more suitable form for the LED. Advancements in LED driver technology have allowed them to be highly efficient and cost-effective. This, in conjunction to the reduction in LED costs, has boosted the manufacturing volume of optoelectronic components significantly over the past few years.
LED drivers and ICs have and will continue to be the largest optoelectronic components segment till 2023.
The key reason for the popularity of LED drivers and ICs is the ability of manufacturers to make them cheap and yet highly reliable. It made them highly sought-after in the Asia Pacific region along with most of the emerging industrial settings across the world. These modern industrial setups are expected to show a rapidly increasing demand for LED drivers and ICs along with image sensors, the components segment with the second largest revenue generated in 2014. Top vendors of optoelectronic components in the world include OSRAM, Texas Instruments, Inc., Sharp Corporation, Cree, Inc., and Avago Technologies.
Optoelectronic components have the capability to source, identify, detect, and control light. The interaction of these components with light makes them ideal to be used in a wide range of applications. These components are primarily used in automatic control systems, aerospace and defense, telecommunications, and healthcare among others.
Growing application across different industry verticals primarily owing to its low power consumption, reliability, scalability, and performance is fueling the demand of optoelectronic components globally. Furthermore, increasing application of high end optoelectronic components in security and defense, automotive and industrial sector is one of the prime contributing factors in directing the growth of the market. Growing usage of LED Driver and IC, OLED, image sensor, infrared components in telecommunication, medical devices and security systems is expected to fuel the growth of optoelectronic components market over the forecast period. Comparatively high price of raw materials, requirement of huge capital investments for developing energy efficient LED displays and niche nature of application of some of the optoelectronic components are major restraining factors for the market. These factors are expected to hinder growth of optoelectronic components market during the forecast period.
Convenience in terms of application of infrared components in consumer electronics and automotive industry is one of the important factors fueling the growth in adaptation of optoelectronic components across different countries. Growing popularity of infrared LEDs in consumer security cameras is one of the major driving factors contributing to the positive growth of this market globally. Each of these cameras contains a number of rings of infrared LEDs, which offer night vision capabilities. Infrared LEDs are used in handheld devices for identity verification and authentication of monetary transactions. Furthermore, proliferation of applications in telecommunication and industrial set ups spurs demand for optoelectronic components at the global level.
By components, the market can be segmented into LED Driver and IC (General LED, HV LED), OLED, Image Sensor (CMOS Image Sensor, CCD Image Sensor, Others), Infrared Component (Infrared Emitting Diode, Irda Transceiver, Infrared Detector), Optocouplers (High Speed Optocoupler, 4 Pin Optocoupler, IGBT Gate Driver, 6 Pin Optocoupler, Isolation Amplifier, Others), Laser Diode (Near Infrared, Red Laser Diode, Blue Laser Diode, Green Laser Diode) and others. Geographically, the optoelectronic components market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). The scope of the report offers an insight into optoelectronic components market in these regions based on revenue (USD billion).
The report also includes competitive profiling of leading players in the industry and their market position to aid in strategic decision making. The market attractiveness analysis and patent analysis included in the report provide insight into market dynamics, future research scope, industry competition and strategies adopted by market leaders.
The report also breaks down and reviews the various factors impacting the market growth, which can be appropriately described as market drivers, restraints, and opportunities. These factors help to determine the various existing trends and their impact on the market growth. Overall, taking into consideration the various factors affecting the optoelectronic components market, the report includes a holistic analysis of the global optoelectronic components market, and provides an estimate of growth for the period 2015 to 2023.
Some of the major companies operating in the optoelectronic components market are Nichia Corporation (Japan), Avago Technologies (U.S.),Vishay Intertechnology, Inc.(U.S.), Cree, Inc. (U.S.), EPISTAR Corporation (Taiwan), OSRAM (Germany), Royal Philips Electronics (Netherlands), Renesas Electronics Corporation (Japan), Toshiba Corporation (Japan), ROHM Semiconductor (Japan), Finisar Corporation (U.S.), Sharp Corporation (Japan), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), Infineon Technologies AG(Germany), Diodes, Incorporated (U.S.), Sony Corporation (Japan), Maxim Integrated Products Inc. (U.S.), Fairchild Semiconductor (U.S.), Samsung Electronics Co., Ltd (South Korea), Panasonic Corporation (Japan), Maxwell Technologies, Inc (U.S.) and Texas Instruments, Inc. (U.S.).
The global optoelectronic components market has been segmented as follows:
Global Optoelectronic Components Market by Components
- LED Driver and IC
- General LED
- HV LED
- Image Sensor
- CMOS Image Sensor
- CCD Image Sensor
- Infrared Component
- Infrared Emitting Diode
- Irda Transceiver
- Infrared Detector
- 4 Pin Optocoupler
- 6 Pin Optocoupler
- High Speed Optocoupler
- IGBT Gate Driver
- Isolation Amplifier
- Laser Diode
- Near Infrared
- Red Laser Diode
- Blue Laser Diode
- Green Laser Diode
Global Optoelectronic Components Market by Geography
- North America
- Rest of the North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle East and Africa