Increasing Investment in R&D Remains Best Competitive Strategy in Field of Optoelectronic Components

Optoelectronic components have the capability to source, identify, detect, and control light. The interaction of these components with light makes them ideal to be used in a wide range of applications. These components are primarily used in automatic control systems, aerospace and defense, telecommunications, and healthcare among others.

Worldwide Description of Optoelectronic Components Market -

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Optoelectronic devices are optical-to-electrical or electrical-to-optical transducers, or instruments that use such devices in their operation. The application of optoelectronic components such as image sensors in consumer electronics is having a positive impact on the growth of the market globally. The growing demand for optoelectronic components based webcams in tablets and laptops and dual camera mobile phones among youngsters is fueling the application wise penetration of the market. Furthermore, increasing demand of high-capacity batteries and image sensor systems in automotive industry, coupled with the exploration of power efficient LEDs is stimulating the optoelectronic components market globally. Rising technological advancement and preference for upgraded electrical components is also driving the growth of the market for optoelectronic components.

Product innovation by leading players and increasing application of optoelectronic components such as image sensors, laser diodes, and LEDs in the industrial set ups, medical sector, defense and security, automotive sector and in consumer electronics are fueling the growth of the market for optoelectronic components globally. Growing adoption of optoelectronic components due to its reliability and scalability is one of the major factors contributing to the positive growth of the optoelectronic components market at the global level.

By components, the market can be segmented into LED Driver and IC (General LED, HV LED), OLED, Image Sensor (CMOS Image Sensor, CCD Image Sensor, Others), Infrared Component (Infrared Emitting Diode, Irda Transceiver, Infrared Detector), Optocouplers (High Speed Optocoupler, 4 Pin Optocoupler, IGBT Gate Driver, 6 Pin Optocoupler, Isolation Amplifier, Others), Laser Diode (Near Infrared, Red Laser Diode, Blue Laser Diode, Green Laser Diode) and others. As of 2014, LED Driver and IC held largest share in the market. Increasing application of high end components and tools in different industry verticals is major driver for growth of optoelectronic components.

Increasing demand for HV LEDs and general LEDs in industrial applications is one of the major factors contributing in the positive growth of optoelectronic components market globally. OLEDs are primarily used to create digital displays in devices such as computer monitors, television screens, and portable systems such as handheld game consoles and mobile phones. Furthermore, increasing application of optoelectronic components such as various types of sensors including throttle position sensor, speed sensor, transmission fluid temperature sensor and turbine speed sensors in powertrain systems has boosted the growth of the market. With the increasing penetration rate of high-capacity batteries and image sensor systems in automotive as well as process automation industries is stimulating the growth of optoelectronic components market globally.

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The market for optoelectronic components has been segmented into broad geographic regions which include North America, Europe, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific led the market for optoelectronic components in 2014, followed by North America and Europe and is expected to maintain its position over the forecast period from 2015 to 2023. China, Japan, U.S., Germany and Italy are the major contributors of the optoelectronic components market globally. Increasing awareness about the benefits of optoelectronic components is one of the major reasons for the growing prominence of optoelectronic components in the residential, commercial sector, consumer electronics and healthcare sector globally.

 Some of the major companies operating in the optoelectronic components market are Nichia Corporation (Japan), Avago Technologies (U.S.),Vishay Intertechnology, Inc.(U.S.), Cree, Inc. (U.S.), EPISTAR Corporation (Taiwan), OSRAM (Germany), Royal Philips Electronics (Netherlands), Renesas Electronics Corporation (Japan), Toshiba Corporation (Japan), ROHM Semiconductor (Japan), Finisar Corporation (U.S.), Sharp Corporation (Japan), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), Infineon Technologies AG(Germany), Diodes, Incorporated (U.S.), Sony Corporation (Japan), Maxim Integrated Products Inc. (U.S.), Fairchild Semiconductor (U.S.), Samsung Electronics Co., Ltd (South Korea), Panasonic Corporation (Japan), Maxwell Technologies, Inc (U.S.) and Texas Instruments, Inc. (U.S.).