Global Optoelectronic Components Market Likely To Thrive At A (CAGR) of 5.2% during the forecast period 2024-2032.

Zion Market Research has published a new report Titled “Global Optoelectronic Components Market – By Component (LED, Sensor, Infrared Components, and Laser Diode), By Application (Lighting, Security & Surveillance, Communications, Measurement, and Others), By Material (Silicon Carbide, Gallium Phosphide, Gallium Arsenide, Gallium Nitride, Silicon Germanium, and Indium Phosphide), By Vertical (Residential, Telecommunication, Manufacturing, Consumer Electronics, Medical, Automotive, Military & Aerospace, Commercial, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.” According to the report, global Optoelectronic Component Market was worth USD 42.66 Billion in 2023. The market is forecast to reach USD 70.57 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period 2024-2032.

Browse the full “Global Optoelectronic Component Market – By Component (LED, Sensor, Infrared Components, and Laser Diode), By Application (Lighting, Security & Surveillance, Communications, Measurement, and Others), By Material (Silicon Carbide, Gallium Phosphide, Gallium Arsenide, Gallium Nitride, Silicon Germanium, and Indium Phosphide), By Vertical (Residential, Telecommunication, Manufacturing, Consumer Electronics, Medical, Automotive, Military & Aerospace, Commercial, and Others), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2024-2032.” Report at https://www.zionmarketresearch.com/report/optoelectronic-component-market

The rising involvement of infrared technology in automobiles & consumer electronics and the extensive use of enhanced optical sensing & imaging solutions in the healthcare sector are flourishing the global optoelectronic components market. Moreover, the development of durable & power-saving systems also involves the use of optoelectronic components, which also propels the market considerably.

“Sensor” category under the component segment likely to dominate in the global optoelectronic components market

The market’s component segment is categorized into LED, sensor, infrared components, and laser diode. Among these, the sensor category is anticipated to lead the global market throughout the forecast period. The sensors, such as photodiode, image, phototransistors, photo relay, and optical sensors, have a wide array of applications in several industries.

Under the material segment, “gallium nitride” category is likely to lead the global optoelectronic components market

The global optoelectronic electronics market is categorized into silicon carbide, gallium phosphide, gallium arsenide, gallium nitride, silicon germanium, and indium phosphide, on the basis of material. Among all, the gallium nitride segment is likely to hold the leading position in the market in the coming few years, as gallium nitride is considered as a HEHT (high electron mobility transistor) material that is primarily used in manufacturing optoelectronic components.

North America market holds the major revenue share owing to the presence of leading system suppliers in the region

North America holds the dominating position in the global optoelectronic components market as it is at the top in technological advancements. Moreover, the majority of leading system suppliers, sensors, LED, and laser manufacturers are present in the region.

Some of the key players driving the global optoelectronic components market are TT Electronics, Samsung, ON Semiconductor, Broadcom, Trumpf, Hamamatsu, Vishay, Sony, Cree, SICK AG, and Osram.

The global optoelectronic components market is segmented as:

Global Optoelectronic Components Market: Component Segmentation Analysis

• LED
• Sensor
• Infrared Components
• Laser Diode

Global Optoelectronic Components Market: Material Segmentation Analysis

• Silicon Carbide
• Gallium Phosphide
• Gallium Arsenide
• Gallium Nitride
• Silicon Germanium
• Indium Phosphide

Global Optoelectronic Components Market: Application Segmentation Analysis

• Lighting
• Security & Surveillance
• Communications
• Measurement
• Others (scanning, geographical survey, and spectrometry)

Global Optoelectronic Components Market: Vertical Segmentation Analysis

• Residential
• Telecommunication
• Manufacturing
• Consumer Electronics
• Medical
• Automotive
• Military & Aerospace
• Commercial
• Others (food & beverages, utility, and pulp & paper)

Global Optoelectronic Components Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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