TMCnet News

Optoelectronics Market is expected to generate a revenue of USD 13.12 Billion by 2028, Globally, at 13.95% CAGR: Verified Market Research®
[September 21, 2022]

Optoelectronics Market is expected to generate a revenue of USD 13.12 Billion by 2028, Globally, at 13.95% CAGR: Verified Market Research®

The increased demand for the sales of luxury and ultra-luxury vehicles, improving global economic conditions have pushed the Optoelectronics Market to new heights.

JERSEY CITY, N.J., Sept. 21, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Optoelectronics Market" By Vehicle Type (Passenger Car, Light Commercial Vehicle), By Electric Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle), By Application (Backlight Control, Convenience And Climate, Lighting, Position Sensors), and By Geography.

Verified Market Research Logo

According to the extensive research done by Verified Market Research experts, the Optoelectronics Market size was valued at USD 4.66 Billion in 2020 and is projected to reach USD 13.12 Billion by 2028, growing at a CAGR of 13.95% from 2021 to 2028.

Download PDF Brochure:

Browse in-depth TOC on "Optoelectronics Market"

202 - Pages

126 – Tables

37 – Figures

Key Developments

Mergers and Acquisitions

  • In May 2018, OSRAM Licht has added to its expertise in semiconductor-based optical security technology by acquiring Vixar.

Product Launches and Product Expansions

  • In March 2018, Expanding on its industry-leading gallium nitride (GaN) power portfolio, Texas Instruments announced two high-speed GaN field-effect transistor (FET) drivers to create more efficient, higher-performing designs in speed-critical applications such as light detection and ranging (LIDAR) and 5G radio-frequency (RF) envelope tracking.

Partnerships, Collaborations and Agreements

  • In April 2018, the lighting and electronics expert HELLA expanded its presence on the Chinese market by launching a new joint venture dealing in electronic components with the company Beijing HAINACHUAN Automotive Parts (China), which is part of the BAIC automotive group.

Global Optoelectronics Market Overview

Optoelectronics is the term for electrical devices that source, detect, and regulate light. The study and use of electrical systems and devices that source, detect, and control light are topics covered in the field of optoelectronics, which is a subfield of physics. The research relates to creating, producing, and researching electrical hardware equipment, such as fiber optic technologies and X-ray machines. Electricity is transformed into photons in these devices for a variety of uses, including telecommunication and medical imaging, among others.

The increased demand for the sales of luxury and ultra-luxury vehicles have pushed the Optoelectronics Market to new heights. Consumers' general lifestyle has changed as the global economy improves. Consumer needs have altered in keeping with new lifestyles, resulting in a shift in their tastes as disposable income has increased. This has boosted global sales of luxury and ultra-luxury vehicles. The primary highlights of the luxury car class include optoelectronic equipment suc as LED lights, OLED and LED displays, and ambient lighting. These devices improve the vehicle's comfort and convenience. They not only improve visibility, but also create a pleasant ambience in the cabin, reducing driver tiredness and increasing vehicle safety. The Global Optoelectronics Market is being driven by this. Additionally, a rise in global demand is attributable to increased awareness of automobile safety.

Key Players

The major players in the market are Broadcom, Grupo Antolin, Hella, Koito Manufacturing, Koninklijke Philips, Magneti Marelli, Osram, Renesas, Stanley Electric, Vishay.

Verified Market Research has segmented the Global Optoelectronics Market On the basis of Vehicle Type, Electric Vehicle Type, Application, and Geography.

  • Optoelectronics Market, by Vehicle Type
    • Passenger Car
    • Light Commercial Vehicle
    • Truck
    • Bus
  • Optoelectronics Market, by Electric Vehicle Type
    • Battery Electric Vehicle
    • Hybrid Electric Vehicle
    • Plug-In Hybrid Electric Vehicle
    • Fuel Cell Electric Vehicle
  • Optoelectronics Market, by Application
    • Backlight Control
    • Convenience & Climate
    • Lighting
    • Position Sensors
    • Safety
  • Optoelectronics Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

Nano Batteries Market By Product Type (Large Format Modules, Customized Batteries), By Distribution Channel (Medical, Consumer Electronics), By Geography, And Forecast

Wireless Power Transmission Market By Type (Devices With Battery, Devices Without Battery), By Technology (Near-Field Technology, Far-Field Technology), By Transmission Range (Short, Medium, Long), By Application (Consumer Electronics, Automotive, Defense), By Geography, And Forecast

Automotive Electronic Parking Brake Market By Type (Electric-hydraulic Caliper System, Cable-pull System), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Sales Channel (OEM, Aftermarket), By Geography, And Forecast

Optoelectronics Diffuser Market By Type (Holographic, White Diffusing Glass, Ground Glass), By Application (Illumination, Medical Industry, Auto Industry), By End-User (Hospitals & Clinics, Ambulatory Care Centers) By Geography, And Forecast

Top Electric And Electronic Fuses Companies safeguarding people from hazardous scenarios

Visualize Optoelectronics Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us 
Mr. Edwyne Fernandes 
Verified Market Research® 
US: +1 (650)-781-4080 
UK: +44 (753)-715-0008 
APAC: +61 (488)-85-9400 
US Toll Free: +1 (800)-782-1768 
Email: [email protected] 
Follow Us: LinkedIn | Twitter


Cision View original content:

[ Back To's Homepage ]