Global Optoelectronics Market
Electrical And Electronics Manufacturing

What Are The 5 Takeaways From The Optoelectronics Market Overview 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Optoelectronics Global Market Report 2024 offers crucial insights into the optoelectronics market help businesses analyse and build stronger strategies.

A Surge in Growth: Optoelectronics Market Overview

  • Optoelectronics market size has soared in recent years.
  • Expected growth from $7.39 billion in 2023 to $8.76 billion in 2024.
  • Compound annual growth rate (CAGR) of 18.4% attributed to telecommunications expansion, consumer electronics, medical devices, automotive lighting, and energy efficiency.
  • Anticipated growth to $17 billion by 2028 at an 18.0% CAGR.
  • Forecast growth due to semiconductor manufacturing, military and defense, autonomous vehicles, miniaturization, and information technology revolution.
  • Major trends include display technology advancements, optical sensors, 5G network expansion, optoelectronic materials, and quantum technologies.

Rising Demand For Consumer Electronics Boosts Optoelectronics Market

  • Consumer electronics demand propels market growth.
  • Essential optoelectronic components include OLEDs and LCDs.
  • Japan’s electronic equipment production reached $6,722 million in May 2023.
  • Consumer electronics production rose to $280 million in May 2023.
  • Increasing demand for consumer electronics will drive optoelectronics market growth.

Major Players in the Optoelectronics Market

  • Key companies include General Electric Company, Avago Technologies Limited, Broadcom Inc., Cree Inc., Panasonic Corporation, Sony Corporation, and many more.
  • Diverse players contribute to market dynamics and innovation.

Read The Full Optoelectronics Market Report Here:

Evolving Optoelectronics Market Through Strategic Partnerships

  • Strategic partnerships reshape the optoelectronics market landscape.
  • Global Foundries and Raytheon partnership focused on gallium nitride on silicon development.
  • Collaboration addresses evolving customer demands and technological advancements.

Largan Precision’s Acquisition Of Ability Optoelectronics Strengthens Market Position

  • Largan Precision Co. Ltd. acquired Ability Optoelectronics Technology.
  • Acquisition enhances Largan Precision’s market share and capabilities.
  • Ability Optoelectronics Technology specializes in lenses, filters, scanners, and digital cameras.

Segmentation of the Optoelectronics Market

  1. By Component:
    • LED
    • Laser Diode
    • Image Sensors
    • Optocouplers
    • Photovoltaic Cells
    • Other Components
  2. By Device Material:
    • Gallium Nitride
    • Gallium Arsenide
    • Gallium Phosphide
    • Silicon Germanium
    • Silicon Carbide
    • Indium Phosphide
  3. By End-User:
    • Automotive
    • Aerospace And Defense
    • Consumer Electronics
    • Information Technology
    • Healthcare
    • Residential And Commercial
    • Industrial
    • Other End Users

Regional Dynamics in the Optoelectronics Market

  • Asia-Pacific led the optoelectronics market in 2023.
  • North America anticipated as the fastest-growing region in the forecast period.
  • Regional dynamics reflect shifting global demands and technological innovations.

Get A Free Sample On The Global Optoelectronics Market Report:

The Optoelectronics Global Market Report 2024  provides a comprehensive outlook of the optoelectronics market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The optoelectronics market forecast offers a thorough analysis on optoelectronics market size, optoelectronics market share, prominent players and their strategies.

The Table Of Content For The Optoelectronics Market Include:

1. Optoelectronics Market Executive Summary
2. Optoelectronics Market Segments
3. Optoelectronics Market Size And Optoelectronics Market Growth Rate
4. Key Optoelectronics Market Trends
5. Major Optoelectronics Market Drivers
25. Key Mergers And Acquisitions In The Optoelectronics Market
26. Top Optoelectronics Companies
27. Optoelectronics Market Opportunities And Strategies
28. Optoelectronics Market, Conclusions And Recommendations
29. Appendix

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