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Base Year
Historical Year
Forecast Year
The global optoelectronics market value reached approximately USD 7.31 billion in 2023. The market is further projected to grow at a CAGR of 14.8% in the forecast period of 2024-2032, reaching a value of around USD 25.31 billion by 2032.
Global Optoelectronics Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 7.31 |
Market Size 2032 | USD Billion | 25.31 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 14.8% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 16.1% |
CAGR 2024-2032 - Market by Country | India | 17.1% |
CAGR 2024-2032 - Market by Country | Brazil | 16.8% |
CAGR 2024-2032 - Market by Component | LED | 16.9% |
CAGR 2024-2032 - Market by End Use | Consumer Electronics | 15.8% |
Market Share by Country 2023 | Italy | 3.1% |
Optoelectronics, often known as optronics, is a field of technology that integrates the use of electronics with optics or light, employing electrical systems and devices that identify, detect, and manipulate light. Electronics capable of emitting or detecting light use various wavelengths of light, allowing for new applications, which drives the demand of the optoelectronics market.
The growing consumer electronics market, fuelled by rising disposable incomes, is driving up global demand for optoelectronics, particularly high-quality displays. Global trends of smaller consumer electronics items and more integration inside systems are projected to drive the demand of optoelectronics, ensuring the continued optoelectronics industry growth.
The growing development of autonomous vehicles is a crucial trend driving the optoelectronics market, since optoelectronics are utilized to automate many processes in automobiles, such as brake signals and headlights. Rising sales of luxury vehicles equipped with various optoelectronics which further enables the growth of the optoelectronics industry.
According to industry forecasts, the global vehicle market grew in 2023, with China dominating by a large margin, selling 30,094,767 units, an increase of 28%. VW, Toyota, and Geely dominated the Chinese market. The United States followed with 15,604,278 units, a 14% increase, with Ford, Toyota, and Chevrolet being the top sales. Toyota, Suzuki, and Daihatsu led the way in Japan's market, which increased by 14% to 4,779,639. Maruti Suzuki, Hyundai, and Tata drove India's 9% rise, totalling 4,108,263 units. Germany sold 2,845,764 vehicles, up 7%, with Volkswagen, Mercedes, and Audi leading the way, demonstrating growth in the optoelectronics market.
In 2024, vehicle sales in important countries remained strong, with Australia selling 97,202 units in April, Brazil selling 144,027 units in May, and Chile selling 23,337 units in May. China's remarkable market remained strong, with 2,420,000 units sold in May, while Colombia's April sales were 4,275 units further enhancing the optoelectronics market revenue.
Parallel to this, the top ten electronics firms for 2022-2023 demonstrate considerable global contributions. China leads the market with USD 1,368 billion, accounting for 33% of the worldwide total, followed by Taiwan at USD 507 billion (12%) and South Korea at USD 321 billion (8%). Vietnam's electronics sector totalled USD 213 billion (5%), while Malaysia's was USD 190 billion (5%). Japan constituted USD 170 billion (4%), while the United States provided USD 166 billion. Germany is estimated at USD 151 billion (4%), followed by Mexico at USD 150 billion (4%), and Thailand at USD 114 billion (3%).
These market dynamics have a direct impact on the global optoelectronics market, as increased vehicle production and sales drive demand for advanced optoelectronic components such as LEDs, sensors, and display technologies, which are critical to automotive applications for lighting, safety, and infotainment systems. Similarly, the significant contributions of key electronics manufacturers demonstrate the importance of optoelectronics in consumer electronics, communications, and medical equipment. Advancements in these areas, particularly in China, Taiwan, and South Korea, are driving the growing demand for high-performance, energy-efficient optoelectronic components.
“Global Optoelectronics Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
Market Breakup by End Use
Market Breakup by Region
CAGR 2024-2032 - Market by | Country |
India | 17.1% |
Brazil | 16.8% |
China | 15.4% |
USA | 14.0% |
UK | 13.9% |
Canada | XX% |
Germany | 12.9% |
France | XX% |
Italy | XX% |
Japan | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Mexico | XX% |
The growth of the optoelectronics market may also be ascribed to the optical information instruments segment, which is expected to increase gradually. This is due to the growing adoption of 5G technology and electronics, which use optoelectronic components for retina display solutions in mobile phones and electronic devices. Furthermore, the growing use of image sensors in medical imaging applications such as optical coherence tomography (OCT) and endoscopy increases product demand.
The optoelectronics market dynamics and trends are shaped by growing demand for energy-efficient solutions, as well as the rapid adoption of smart technologies across numerous industries.
Favourable government measures, such as the development of smart city projects and severe energy efficiency laws, are also expected to propel the optoelectronics demand growth.
These companies specialize in the design and manufacture of a diverse variety of optoelectronic components, such as LEDs, sensors, image sensors, and display technologies. Their products are used in a wide range of applications, including consumer electronics, automotive, telecommunications, and industrial.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Component |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global ethylene glycol market attained a value of nearly USD 7.31 billion.
The global ethylene glycol market is assessed to grow at a CAGR of 14.8% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 25.31 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing sale of consumer electronics, and growing usage in automotives.
The key optoelectronics market trends include increasing focus on renewable energy sources, advancements in optoelectronics technology, rising applications in healthcare, and expansion of optoelectronics production capacities.
The leading component in the market are Image Sensors, Laser Diode, LED, Optocouplers, Photovoltaic Cells, and Others.
The significant modes of End Use of ethylene glycol in the market are Automotive, Aerospace and Defence, Consumer Electronics, Information Technology, Healthcare, and others.
The competitive landscape consists of Samsung Electronics Co., Ltd., Panasonic Corporation, Sony Corporation, ams-OSRAM International GmbH, OMNIVISION Technologies, Inc., General Electric Company, Micropac Industries, Inc., Mitsubishi Electric Corporation, Optoi Srl, Rohm Co., Ltd., and among others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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