PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485745
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485745
The Optoelectronic Semiconductor Market size was valued at USD 52,123.43 million in 2023, expanding at a CAGR of 11.5% from 2024 to 2032.
Opto semiconductors are enhanced semiconductors powered by light emission and absorption. Optoelectronic semiconductors are essential components in optical fiber communication systems. They are used in lasers for transmitting optical signals and photodetectors for receiving them. The size of the opto semiconductors market is anticipated to be driven by the rising need for electronic vehicle applications in both developed and developing countries. Furthermore, during the projection period, the market opportunity for opto semiconductors is anticipated to be driven by the increasing need for next-generation technologies and smart consumer electronics.
Optoelectronic Semiconductor Market- Market Dynamics
Increasing Use of Optoelectric Semiconductor Devices in Communications & Data Storage Applications
In communications, optoelectronic devices play a crucial role in high-speed data transmission over long distances. These devices enable the transmission of vast amounts of data at extremely high speeds, making them indispensable in modern telecommunications networks. Moreover, optoelectronic devices are also instrumental in data storage applications, particularly in technologies such as optical storage and photonic memory. The University of Chicago is a partner in the Centre for Integration of Modern Optoelectronic Materials on Demand (IMOD), a consortium of 11 university' scientists and engineers that will be established over five years with a $25 million grant. the use of optoelectronic devices in communications and data storage applications is expected to continue to grow, enabling the development of faster, more reliable, and more energy-efficient technologies to meet the ever-increasing demands of the digital age.
Optoelectronic Semiconductor Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.5% over the forecast period (2024-2032)
Based on product type segmentation, LED was predicted to show maximum market share in the year 2023
Based on application segmentation, automotive was the leading type in 2023
Based on end user segmentation, automotive was the leading type in 2023
based on region, Asia Pacific was the leading revenue generator in 2023
The Global Optoelectronic Semiconductor Market is segmented based on Product Type, Application, End Use, Technology, and Region.
The market is divided into five categories based on product type: LED, Image Sensors, Infrared components, Optocouplers, and Laser diodes. The LED market has seen substantial growth in recent years due to various factors such as energy efficiency, longer lifespan, and decreasing costs. The optoelectronic semiconductor market, which includes LEDs, has been expanding as well.
The market is divided into four categories based on application: Consumer Electronics, Automotive, Healthcare, and Industrial. Optoelectronic semiconductors play a critical role in automotive applications, contributing to advancements in safety, efficiency, and convenience. The automotive LED market is expected to continue growing due to increasing demand for energy-efficient lighting solutions and the adoption of advanced driver assistance systems (ADAS) that rely on LED technology.
Optoelectronic Semiconductor Market- Geographical Insights
Owing to the expansion of the semiconductor sector in China, India, Taiwan, Japan, and other countries, Asia Pacific is thought to be experiencing exponential growth. China's expanding economy and substantial market share in the global electronics industry are likely to contribute to the country's expected high growth rate. Several technologies are being deployed in the manufacturing and telecommunications sectors, which is helping the country's manufacturing industry grow quickly and is anticipated to support the expansion of the market. For instance, in May 2022, China gave 190 chip firms US$1.75 billion in subsidies in 2022 as it seeks semiconductor self-sufficiency. In March 2024, the Indian government approved a total investment of $15.2 billion to set up three semiconductor plants in the country. This includes its first fab unit, to be built by Tata Group in collaboration with Taiwan-based Powerchip Semiconductor Manufacturing Corp (PSMC).
The key players in the optoelectronic semiconductor market include OSRAM, ROHM Semiconductor, TT Electronics plc, JENOPTIK, Fairchild Semiconductor International, Broadcom Inc., Coherent, Inc., Epistar Corporation, Toshiba Corporation, Ushio America, Inc., Mitsubishi Electric Corporation, and LITE-ON Technology Corporation. Several companies focus primarily on optoelectronic semiconductors, offering specialized products and technologies. Examples include II-VI Incorporated, Lumentum Holdings Inc., and Finisar Corporation (now part of II-VI), which specialize in optical components, lasers, and related technologies. For instance, in January 2024, Japanese telecommunications operator NTT collaborated with American chipmaker Intel and other semiconductor manufacturers to research large-scale production of next-generation semiconductor technology, which involves significantly reducing power consumption using optical technology.
In October 2022 AIXTRON SE a worldwide leading provider of deposition equipment to the semiconductor industry, received an order for an AIX 2800G4 MOCVD System from Furukawa Fitel Optical Device Co., Ltd. a Japan-based manufacturer of compound semiconductor devices. The equipment will be used for the development and production of optoelectronic devices, based on Gallium Arsenide (GaAs) and Indium Phosphide (InP) materials.
In June 2023, STMicroelectronics, a global semiconductor leader and Sanan Optoelectronics player in China announced that they have signed an agreement to create a new 200mm silicon carbide device manufacturing JV in Chongqing, China.
GLOBAL OPTOELECTRONIC SEMICONDUCTOR MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
SK Hynix Inc.
Panasonic Corporation
Samsung Electronics
Omnivision Technologies Inc.
Sony Corporation
JENOPTIK
TT Electronics plc
ROHM Semiconductor
Mitsubishi Electric Corporation
Renesas electronics corporation
Broadcom Inc,
Others