Opto Semiconductors Market Report 2024: Market Insights And Future Outlook

The Business Research Company's Opto Semiconductors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 12, 2024 /EINPresswire.com/ -- The global opto semiconductors market is projected to grow from $53.27 billion in 2023 to $59.99 billion in 2024, at a compound annual growth rate (CAGR) of 12.6%. Building on the momentum from infrared technology development, early LED innovations, and advances in semiconductor lasers and optical communication, the market is expected to reach $94.81 billion by 2028 at a CAGR of 12.1%, driven by expanding applications in environmental sensing, aerospace and defense, smart lighting, augmented and virtual reality, and renewable energy sectors.

Rising Internet Traffic Fuels Market Expansion
The surge in Internet traffic is a major factor driving the growth of the opto semiconductors market. With the proliferation of online users and the demand for high-speed data transmission, there is an increased deployment of fiber-optic communication networks, where optoelectronic semiconductors like LEDs and photodetectors play a crucial role. According to Exploding Topics, mobile devices account for more than 55% of website traffic, with 92.3% of Internet users accessing the web via mobile devices. This growing Internet traffic is a significant driver for the opto semiconductors market.

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Key Players and Market Trends
Key players in the opto semiconductors market include Jenoptik AG, Epistar Corp., Vishay Intertechnology Inc., Osram Opto Semiconductors GmbH, and Renesas Electronics Corporation, among others. These companies are focusing on technological advancements to maintain their market positions. For instance, in April 2023, Ams Osram launched the TOPLED D5140, SFH 2202, a new photodiode for wearable health trackers and medical diagnostics devices. This product offers enhanced sensitivity to green visible light and outperforms conventional photodiodes in the infrared spectrum by 30%, making it a significant innovation in the market.

Technological Advancements Driving Growth
Technological advancements are a key trend gaining traction in the opto semiconductors market. Companies are adopting new technologies to improve product performance and address emerging applications. Ams Osram's TOPLED D5140, SFH 2202, is a prime example of this trend, offering improved performance in wearable health trackers and medical diagnostics devices, thereby driving market growth.

Segments:
• Type: Optocouplers, LED, Image Sensor, Infrared Component, Laser Diode
• Material: Silicon, Gallium Arsenide, Gallium Phosphide, Indium Gallium Arsenide
• Application: Residential, Commercial, Automotive, Consumer Electronics, Telecommunication, Healthcare, Energy and Power

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the opto semiconductors market in 2023 and is expected to continue leading the market in the forecast period. The region's dominance is attributed to its strong manufacturing base, technological advancements, and growing demand for opto semiconductors in various applications.

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Opto Semiconductors Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Opto Semiconductors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on opto semiconductors market size, opto semiconductors market drivers and trends, opto semiconductors market major players, competitors' revenues, market positioning, and market growth across geographies. The opto semiconductors market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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