Global Opto Semiconductors Market is valued approximately at USD 48.74 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.8% over the forecast period 2023-2030. Opto-semiconductors are electronic components that convert light energy into electrical signals and vice versa. They are mainly used in the fields of communication and consumer electronics. The p-n junctions are a critical component of these devices. Furthermore, Opto semiconductor devices such as LEDs, solar cells, and semiconductor lasers are categorized as optoelectronic devices. The Opto Semiconductors market is expanding because of factors such as growing demand for electronic vehicle applications and rising adoption of LED devices. However, the surge in adoption of smart infrastructure solution-based LED and image sensors solution have led to the growth of the automotive and consumer electronics segments; thereby, enhancing the opto semiconductors market growth. Its importance has progressively increased during the last few decades.
According to the Statista, the size of the worldwide electric vehicle industry is anticipated to more than quadruple between 2021 and 2027, reaching an estimated global market size of 1.4 trillion US dollars by that year. Between 2022 and 2027, this equates into a remarkable compound annual growth rate (CAGR) of more than 19.19 percent. According to the Statista, the global market for LED lighting was estimated to be worth roughly 76 billion dollars in 2020. In the upcoming years, a compound annual growth rate (CAGR) of over 13 percent is predicted for the market. The market is anticipated to grow to a size of over 160 billion dollars in 2026.In addition, the growing demand for smart consumer electronics and next-generation technologies is expected to propel the Opto semiconductors market opportunity during the forecast period. However, the heating and energy loss and high cost of semiconductors in these stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Opto Semiconductors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific region is the dominating region for opto semiconductors owing to the evolving automobile, medical and industrial manufacturing companies. According to the Statista in 2021, in the Asia-Pacific area, the semiconductor sector made about 342.97 billion dollars in sales. Then it was predicted that by 2023, when the semiconductor sector in the Asia-Pacific area was anticipated to generate revenues of roughly 411.97 billion US dollars, this would increase. Asia pacific is fastest growing region also because of factors such as, increasing demand for electronics and growing adoption of automation.
Major market player included in this report are:
Toshiba Electronic Devices & Storage Corporation (Japan)
Rohm Co., Ltd. (Japan)
Vishay Intertechnology, Inc. (United States)
Renesas Electronics Corporation. (Japan)
On Semiconductor (United States)
Broadcom (United States)
Mitsubishi Electric Corporation (Japan)
Lite-On Technology, Inc. (Taiwan)
Tyzack Turner Electronics (United Kingdom)
Osram Opto Semiconductors Gmbh (Germany)
Recent Developments in the Market:
Ø In March 2021 – At Sanden Huayu’s headquarters in Shanghai, China, ROHM and Sanden Huayu automobile Air-Conditioning Co., Ltd., China’s largest producer of automobile air conditioners, conducted an opening ceremony to announce a joint technical laboratory.
Ø In December 2022, Toshiba Electronic Devices & Storage Corporation announced plans to build a new back-end production facility for power semiconductors at its Himeji Operations – Semiconductor site in Hyogo Prefecture, Japan. Development will begin in June 2024, with manufacturing kicking off in spring 2025.
Global Opto Semiconductors Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Residential & Commercial
Middle East & Africa
Rest of Middle East & Africa