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

Market Size and Recent Growth

• Market Size in 2023: $53.27 billion
• Expected Growth in 2024: $59.99 billion
• CAGR: 12.6% from 2023 to 2024
• Historic Growth Drivers:
  • Infrared technology development
  • Early LED innovations
  • Semiconductor laser origins
  • Optical communication beginnings
  • Photodetector improvements

Future Market Projections

• Market Size in 2028: Expected to reach $94.81 billion
• CAGR: 12.1% from 2024 to 2028
• Forecast Period Growth Drivers:
  • Environmental sensing and monitoring
  • Aerospace and defense applications
  • Smart lighting and displays
  • Augmented and virtual reality adoption
  • Renewable energy expansion

Major Trends in the Forecast Period

• Rise in optical sensing solutions
• Advances in display technologies
• Hyperspectral imaging development
• Biomedical optics and imaging
• Smart cities and IoT expansion

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Surging Demand for Fiber-Optic Communication Drives Market Growth

• Fiber-Optic Communication: Key driver for opto semiconductors market growth
• Definition: Uses light instead of electricity to transmit data over long distances
• Advantages: Speedier data communication, fewer intermediate processing stages
• Example: BT-PON reported a significant revenue increase in fiber optic cable manufacturing

Major Companies in the Market

• Jenoptik AG
• Epistar Corp.
• Vishay Intertechnology Inc.
• Osram Opto Semiconductors GmbH
• Renesas Electronics Corporation
• Nichia Corporation
• Toshiba Electronic Devices & Storage Corporation
• Mitsubishi Electric Corporation
• Rohm Co. Ltd.
• Broadcom Inc.
• LITE-ON Technology Corporation
• TT Electronics PLC
• Littelfuse Inc.
• Ushio America Inc.
• Sharp Corporation
• Lumileds Holding B.V.
• General Electric Company
• Panasonic Corporation
• Omnivision Technologies Inc.
• Sony Corporation

Technological Advancements Propel Market Growth

• Key Trend: Technological innovation in opto semiconductors
• Example: Ams Osram launches TOPLED D5140 and SFH 2202 for health trackers and diagnostics
  • Enhanced sensitivity to green visible light
  • Improved performance in infrared spectrum
  • Minimized optical measuring errors and increased stability in heart rate readings

Strategic Acquisitions

• Luminar Technologies Acquires Freedom Photonics:
  • Strengthened vehicle safety and autonomy portfolio
  • Freedom Photonics specializes in photonic components, modules, and subsystems

Market Segmentation

• By Type:
  • Optocouplers
  • LED
  • Image Sensor
  • Infrared Component
  • Laser Diode
• By Material:
  • Silicon
  • Gallium Arsenide
  • Gallium Phosphide
  • Indium Gallium Arsenide
• By Application:
  • Residential
  • Commercial
  • Automotive
  • Consumer Electronics
  • Telecommunication
  • Healthcare
  • Energy and Power

Regional Insights

• Largest Region in 2023: Asia-Pacific

The opto semiconductors market is poised for rapid growth driven by technological advancements, expanding applications in fiber-optic communication, and strategic acquisitions enhancing market capabilities. With increasing adoption across various sectors including telecommunications, automotive, and healthcare, opto semiconductors are pivotal in advancing digital and connectivity solutions globally.

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The Opto Semiconductors Global Market Report 2024  provides an overview of the opto semiconductors market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The opto semiconductors market forecast analyzes opto semiconductors market size, opto semiconductors market share, leading competitor and their market positions.

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