Global Optoelectronic Transistor Market Highlights over 2022 – 2031
The global optoelectronic transistor market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2031. Optoelectronic transistor is an electronic device that can source, detect and control light. The growth of the market can be attributed to the growing adoption of advanced technology across various end-use sectors. The increasing application of gamma rays, X-ray, and infrared rays in healthcare, communication, and automotive, is further estimated to boost the market growth. According to the data by the World Health Organization (WHO), an estimated 3.6 billion radiation-based diagnostic medical examinations, such as X-rays, are performed every year worldwide. Optical transistors control light using only light, which is applied in optical computing and fiber-optic communication networks. The increasing implementation of optic fibers in the telecommunication industry is projected to encourage the market growth. Additionally, the growing adoption of optical sensors for security scans and on-screen fingerprint sensors, is further estimated to boost the market growth. For instance, more than 1.3 billion smartphones were sold by smartphone vendors across the world in 2020. Such factors are estimated to fuel the growth of the market.
The market is segmented by application into circuit coupling, optical sensors, and others, out of which, the optical sensors segment is anticipated to hold a substantial share in the global optoelectronic transistor market over the forecast period on account of increasing use of optical sensors amongst the end-user industries. Optical sensors deliver greater bandwidth, faster speeds, longer distance coverage, and better reliability, than other types of sensors, which is estimated to boost the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Optoelectronic Transistor Market Regional Synopsis
On the basis of geographical analysis, the global optoelectronic transistor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period. This can be attributed to the increasing adoption of optoelectronic technologies, which is evident from the growing demand for optoelectronics-based products such as LED display, in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing use of optical fibers in the developed countries, across various industries. In fact, it was observed that the multi-mode fiber optics industry in the U.S. generated approximately USD 600 million revenue, in 2017.
The global optoelectronic transistor market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global optoelectronic transistor market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The increasing adoption of optical sensors across various end-user industries, is estimated to boost the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031.
The major players in the market are Honeywell International Inc., KODENSHI Corporation, Cypress Semiconductor Corporation, Diodes Incorporated, STMicroelectronics, Infineon Technologies AG, and Renesas Electronics Corporation.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The optical sensors segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
High costing associated with optoelectronic transistors are estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing use of optical fibers in the region.
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