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Opto-Isolator Global Market Sales Estimated to Hit $1.79 Billion at a CAGR of 9.7% By 2028 | Says The Business Research Company
Opto-Isolator Global Market
Opto-Isolator Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.79 billion In 2028 At A CAGR Of 9.7%.
The opto-isolator market size has grown rapidly in recent years. It will grow from $1.12 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to early telecommunication development, industrial automation growth, medical equipment safety, rise in power electronics, development of electronic instrumentation.
The opto-isolator market size is expected to see strong growth in the next few years. It will grow to $1.79 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to cybersecurity and data protection, smart grid and energy management, renewable energy systems, 5g network infrastructure, iot and smart devices. Major trends in the forecast period include opto-isolators in quantum computing, low power consumption devices, application-specific opto-isolators, miniaturization and integration, enhanced data rate transmission.
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Opto-Isolator Market Major Segments
The opto-isolator market covered in this report is segmented -
1) By Product: Non-Linear Opto-isolator, Linear Opto-Isolator
2) By Technology: High-Speed, High-Voltage, Integrated
3) By Application: Telecommunications, Cable TV, Military And Aerospace, Industrial Motors, Other Applications
4) By Sales Channel: Direct Sales, Distributors
Key Driver - Surge In Led Lighting Propels Optoisolator Market
The rapid growth of LED lighting is expected to boost the growth of the optoisolator market going forward. LED lighting describes a semiconductor device that produces visible light when an electrical current flow through it. In opto-isolators, LEDs transform electrical input signals into corresponding light signals. For instance, in June 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, residential LED lighting sales hold a share of 50.5% in 2022, an increase of 46.3% in 2021. Further, the lighting efficacy of LED lighting increased from 107 lumens/watts in 2020 to 111 lumens/watts in 2021. Therefore, the rapid growth of LED lighting is driving the growth of the optoisolator market.
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Prominent Trend - Innovation In The Optoisolator Market
Product innovation is the key trend gaining popularity in the optoisolator market. Major companies operating in the optoisolator market are focusing on developing new products to sustain their position in the market. For instance, in May 2021, Toshiba, a Japan-based manufacturer of electronic devices, launched TLP3910, a photovoltaic-output photocoupler. It is a photovoltaic coupler in a slim SO6L package that may be used to drive the gates of high-voltage power MOSFETs used as isolated solid-state relays (SSR). The entrance of a high-voltage power MOSFET can be caused by just one new TLP3910 with a minimum open voltage of 14V. The TLP3910 is Toshiba's first photovoltaic coupler with a minimum isolation voltage of 5000Vrms while retaining the fundamental functionality of the company's existing TLP191B and TLP3906 products. It permits usage with industrial machinery powered by AC400V systems.
Opto-Isolator Market Players
Major companies operating in the opto-isolator market report are Hirose Electric Co. Ltd., LITE-ON Technology Inc., TT Electronics, Everlight Electronics Co Ltd., Thorlabs Inc., IXYS Corporation, Standex Electronics Inc., Oz Optics, Harwin Inc., Kingbright Company LLC, Broadcom Inc., Osram Opto Semiconductors GmbH, DK Photonics Technology Limited, Toshiba Corporation, Sumitomo Electric Industries Ltd., Sharp Corporation, Corning Inc., Amphenol Corporation, Molex LLC, Isocom Components Ltd., Yageo Corporation, Vishay Intertechnology Inc., NTE Electronics Inc., Renesas Electronics Corporation, Plus Opto Ltd., Littelfuse Inc., Diodes Incorporated, Fairchild Semiconductor Co, Bourns Inc., Semtech Corporation.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the opto-isolator market in 2023. The regions covered in the opto-isolator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Opto-Isolator Market Report Structure
3. Opto-Isolator Market Trends And Strategies
4. Opto-Isolator Market - Macro Economic Scenario
5. Opto-Isolator Market Size And Growth
…..
27. Opto-Isolator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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