Increasing demand for consumer electronic devices fuel the Optoelectronics Market. Optoelectronics consist of light emitting devices which converts electrical signals to visible or infrared radiation energy, or vice-versa. Consumer electronic devices, digital imaging solution and communication network are the major areas where Optoelectronics has huge market opportunity for its major High-brightness LEDs (HB-LEDs), CMOS image sensors and Fiber-optic laser transmitters components.
In addition to this, increased demand for advanced technology in automotive industry is creating market opportunity for Optoelectronics. Most of the automotive vendors are integrating infrared components in cars for detect ambient light, whether estimation, gestured control for the infotainment console and night vision. These new application areas strengthen the Optoelectronics market share in emerging sectors.
Optoelectronics Market: Drivers and Challenges
The driving factor for Optoelectronics market is the growing usage of high brightness LEDs which are used in backlight systems of Tablets, smartphones and LCD television sets. Furthermore, rising usage of LEDs in illumination devices is also helping this Optoelectronics market to grow significantly in coming five years.
The challenge for Optoelectronics technology is the usage of complex fabrication due to which it become difficult to get proper supply of fabrication technology required from the suppliers as these are rarely available to them.
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Optoelectronics Market: Segmentation
Segmentation on the basis of Product Type:
- Light emitting diodes (LED)
- Infrared Components
These are electronically managed. These are used to control light and to manage invisible and visible form of light.
Segmentation on the basis of Application:
Optoelectronic components are used in many application field such as:
- Medical Devices
- Traffic Signals
- Consumer Electronics
- Home Appliances
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The laser diodes, one of the important component of Optoelectronics is used in medical field, military and defense, CD players, and surgical procedures.
Key Market Player
- Some of the major Optoelectronic players are Avago Technologies, Cree, Inc., a FiberHome Technologies Group Omnivision Technologies, Inc., and Micropac Industries