According to the latest market research study by Technavio, the global optoelectronics market is expected to grow at a CAGR of close to 17% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global optoelectronics market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on product
Source: Technavio
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The top three revenue contributing product segments are discussed below
LED: The LED market will experience continued demand due to higher adoption of smart lighting systems, growing concern over depletion of non-renewable sources of power, and increased demand for power-efficient lighting systems across various industries. Moreover, major upcoming events such as the FIFA World Cup 2018 will increase the demand for LED floodlights and LED luminaires. It is expected that the vendors will enter the UV LED and IR LED markets, as the demand for traditional LED lights will decline during the forecast period.
“The demand for LED lights are emerging mostly from the residential segment and street lights in the general lighting segment. One of the fundamental reasons for the dominance of the LED lights segment in the optoelectronics market is the favorable incentives granted by the government,” says Chetan Mohan, a senior analyst at Technavio for research on embedded systems.
Image sensor: Image sensors are used to detect and convey information that constitutes an image. Image sensors are used in electronic imaging devices, which can be both digital and analog type such as digital cameras, medical imaging, thermal imaging, and others. The growing advances in the image sensors are due to their increasing application in several imaging devices such as camera modules for consumer electronic devices and digital cameras.
Laser diode: There are various types of laser diodes for different applications, which can be chosen based on their features such as wavelengths. Laser diodes are cheaper compared with many other lasers, as they are manufactured in vast quantities and at a low cost.
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The top vendors operating in the global optoelectronics market are:
- Cree
- GE Lighting
- LG Innotek
- Lumileds Lighting
- NICHIA
- OSRAM
- Samsung
- Seoul Semiconductor
- Sony
- OmniVision
- Canon
- ON Semiconductor
- Coherent
- IPG Photonics
- ROFIN-SINAR Technologies
- TRUMPF
- AC Photonics
- AFW Technologies
- Agiltron
- Aistana
- Corning (AFOP)
- DK Photonics Technology
- FOCI Fiber Optic Communications
- General Photonics
- Opto-Link
- Thorlabs
- SENKO Advanced Components
The other prominent vendors in the market include Dialight, Eaton, Emerson Electric, Everlight Electronics, Lite-On, MLS Electronics, Toshiba Lighting and Technology, Toyoda Gosei, Galaxy Core, Toshiba, STMicroelectronics, Nikon, Pixelplus, Pixart Imaging, Egismos Technology, Finisar, Hamamatsu, Photonics, JDS Uniphase, Jenoptik, Newport, OSI Laser Diode, ProPhotonix, Sharp, Accelink Technologies, AOC Technologies, Ascentta, Edmund Optics, Electro-Optics Technology, Integrated Photonics, Kyocera, and Microwave Photonics Systems.
A more detailed analysis is available in the Technavio report titled, ‘Global Optoelectronics Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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