Allied Market Research published a report on the Opto Semiconductors Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2031.
The global Opto semiconductors market was valued at $43.6 billion in 2021 and is projected to reach $130.7 billion by 2031, growing at a CAGR of 11.8% from 2022 to 2031
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Opto semiconductors are enhanced semiconductor devices that are operated by the absorption and emission of light. The p-n junctions are a critical component of these devices. Further, Opto semiconductors devices such as LEDs, solar cells, and semiconductor lasers are categorized as optoelectronic devices. Optoelectronics such as laser diodes, image sensors, and others are based on the quantum mechanical effects of light on electronic materials.
Moreover, the opto semiconductor solutions consist of a light-sensitive surface that absorbs light and also emits it. In addition, the growing demand for electronic vehicle applications in developing and developed regions is expected to drive Opto semiconductors market size.
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The competitive environment of the opto semiconductors market is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, opto semiconductors market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the opto semiconductors industry include:
- Littelfuse, Inc.
- ROHM Semiconductor
- TT Electronics plc
- IPG Photonics Corporation
- Fairchild Semiconductor International
- Avago Corp
- Broadcom Inc.
- Coherent, Inc.
- Epistar Corporation
- Toshiba Corporation
- Vishay Intertechnology Inc.
- Ushio America, Inc.
- Sharp Corporation
- Mitsubishi Electric Corporation
- LITE-ON Technology Corporation
Opto semiconductor applications such as LED, solar cells, photodiodes, and semiconductor lasers are enhanced electric devices designed to work by absorption and emission of light. In terms of conversion efficiency, the Opto-semiconductor devices outperform other semiconductors solutions. In addition, the Opto-semiconductors, such as semiconductor devices, are made of a p-n junction. They have a light-sensitive surface that generates charge carriers. The quantum mechanical effects of light on electronic materials, particularly semiconductors, underpin optoelectronics.
The growth of the global opto semiconductors industry is majorly driven by the advancement of the electronic sector and laser-powered 3D display technology paired with the surge in demand for smart consumer electronics and next-generation technologies. Further, an increase in the use of optoelectronic devices in communications and data storage applications is anticipated to drive the growth of the opto semiconductors market. However, the heating and energy loss in devices act as a prime restraint of the global market.
According to opto semiconductors market analysis, the LED segment was the highest contributor to the market in 2021. The automotive and consumer electronics segment collectively accounted for around 53.3 % opto semiconductors market share in 2021. The surge in adoption of smart infrastructure solution-based LED and image sensors solution have led to the growth of the automotive and consumer electronics segments; thereby, enhancing the opto semiconductors market growth.
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Key Benefits for Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Opto semiconductors market analysis from 2021 to 2031 to identify the prevailing Opto semiconductors market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the opto semiconductors market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global opto semiconductors market trends, key players, market segments, application areas, and market growth strategies.
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