“Optoelectronic Components Market by Component (LED, Laser Diode, Image Sensor), Application (Residential and Commercial, Consumer Electronics, Industrial, Healthcare), and Geography (North America, Europe, APAC, and RoW) – Global Forecast to 2020”, published by MarketsandMarkets (www.marketsandmarkets.com), the total market is expected to reach USD 55.53 Billion by 2020.
Optoelectronic components are electronic devices that are capable of producing light or reacting to it. Optoelectronic components include LEDs, image sensors, optocouplers, IR components, and laser diodes among others. These are widely used in sectors such as automotive, residential & commercial, consumer electronics, telecommunication, industrial, healthcare, and 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. LEDs held the largest market in 2014 and are expected to lead this market till 2020, whereas laser diodes are expected to exhibit the highest growth rate of 12.98% during the forecast period.
The optoelectronic components market has been segmented based on applications into residential & commercial, consumer electronics, industrial, automotive, healthcare, telecommunication, and aerospace & defense. The market has also been segmented based on components into LEDs, image sensors, laser diodes, optocouplers, IR components, and others. For instance, LEDs due to their long operational life, efficiency and high durability are used in a wide variety of lighting applications.
On the other hand, image sensors are being used extensively in surveillance cameras, machine vision cameras, and automotive cameras among many others. Also, laser diodes have a large application in telecommunication, measurement instruments, and numerous consumer electronics products.
The APAC is the largest market for optoelectronic components and is expected to grow at a CAGR of 9.98% from 2015 to 2020. The said market in China is expected to grow at the highest CAGR of 11.14%; its growth is expected to be driven by growing applications in residential & commercial, and consumer electronics sectors.
In this report, the optoelectronics component market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Market, by Component: LED, Image Sensor, Optocoupler, IR Component and Laser Diode
- Market, by Application: Residential & Commercial, automotive, consumer electronics, telecommunication, industrial, healthcare, and aerospace & defense
- Market, by Geography: North America (sub-segmented into the U.S., Canada, and Mexico), Europe (sub-segmented into the U.K., Germany, France, and others), Asia-Pacific (sub-segmented into China, Japan, South Korea, India, and others), and Rest of the World
- Competitive Landscape: Market ranking analysis
- Company Profiles: Detailed analysis of the major companies present in the optoelectronics component market
- Available Customization: Detailed analysis and profiling of additional market players (up to five).
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