Optoelectronics is the study of electronic devices which are capable of sourcing, detecting, or controlling light. Optoelectronics is based on the quantum mechanical effects of light on electronic materials which mainly include semiconductors. Optoelectronic components include LEDs, image sensors, laser diodes, and others. Most of these are equipped with a window on the component which allows the light to pass through. This report segments the said market based on components, applications, and geography. The report also includes the analysis and forecasts related to the optoelectronics component market.
Based on components, the optoelectronic components market has been classified into LEDs, image sensors, optocouplers, IR components, laser diodes, and others. The said market has been segmented on the basis of applications into residential & commercial, automotive, consumer electronics, medical, industrial, aerospace & defense.
The optoelectronic components market is expected to reach USD 55.53 billion by 2020, at a CAGR of 9.41% from 2015 to 2020. The market for laser diodes is expected to grow at the highest CAGR of 12.98% from 2015 to 2020; this growth can be attributed to their increasing usage in telecommunication, consumer electronics, and industrial verticals.
The said market has been segmented based on the geography into North America, Europe, APAC, and RoW. APAC is currently the largest market for optoelectronic components and is expected to exhibit a high growth rate in the next five years.
Some of the prominent companies in this market include Cree, Inc. (U.S.), Osram Licht AG (Germany), Vishay Intertechnology, Inc. (U.S.), ON Semiconductor (U.S.), OmniVision Technologies, Inc. (U.S.), Sony Corporation (Japan), Sharp Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), and Koninklijke Philips N.V. (Netherlands).
