Press release
Optoelectronic Components Market to Double in Revenue by 2023
TMR suggests that this competition will intensify over the coming years. The possibility of new entrants joining the competition is very high, although the new players will need innovative ideas and a strong distribution chain to establish their claim on the optoelectronic components market share.
Obtain Report Details:
https://www.transparencymarketresearch.com/optoelectronic-components-market.html
The telecom industry, a key end user of optoelectronic components, is ramping up its demand for them owing to a greater market penetration of telecom applications in industrial settings, finds TMR.
It is becoming a major reason for key optoelectronic components providers to consolidate their efforts through innovations, new product development, and the implementation of new technology post positive research and development.
Optoelectronic Components Manufacturers Seek Major Opportunities in Automotive and Consumer Electronics
“Infrared LEDs are currently the top reason why a major chunk of optoelectronic components comes from the automotive industry,” stated a TMR expert.
“So far, infrared LEDs have found use in consumer electronics such as remote controls. Optoelectronic components are now being used in security camera controls and car lighting, significantly increasing their market value and production scope.”
Optoelectronic components are rapidly finding scope of use in automobile headlights, auxiliary lighting, turn indicators, and other signaling. Additionally, optoelectronic components are also being used in mobile payment, gesture recognition, night vision instruments, active safety systems, and other technologies.
Make Enquiry @
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=10049
Other fields of use of optoelectronic components include healthcare, residential and commercial buildings, defense, and aerospace. The power efficiency and stability they impart to lighting and communication systems have made users hold them in high regard in both short and long term usage.
The industrial setup has also been a highly potent application field for optoelectronic components, where they can improve the flexibility of a network and allow multi-service integration.
LED Driver and IC Components to More than Double in Revenue by 2023
In 2014, the LED driver and IC components had held a share of 37.6% of the total revenue generated in the market.
The increasing demand for cheaper optoelectronic components with advanced features has increasing the use of laser diodes, LED drivers, ICs, and other components. The LED driver and IC components segment was valued around US$22 bn and is expected to almost touch US$50 bn before the end of 2023.
The global optoelectronic components market is progressing at a CAGR of 9.7% through a cumulative result of the above factors, within a forecast period from 2015 to 2023. This market was valued around US$60 bn and will cross US$137 bn in 2023.
Asia Pacific will retain its regional lead in optoelectronic components consumption, with North America and Europe in second and third position, in terms of revenue.
Get TOC @ https://www.transparencymarketresearch.com/report-toc/10049
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Optoelectronic Components Market to Double in Revenue by 2023 here
News-ID: 830529 • Views: …
More Releases from Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends from…
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetium‐99m…
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine…
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,…
More Releases for TMR
Cancer Diagnostics Market Reviews 2031 | TMR Study
According to a Transparency Market Research (TMR) research report, the global cancer diagnostics Market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 335.7 Bn by the end of 2031.
The study on the cancer diagnostics Market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The authors have…
LED Work Light Market 2029 | TMR Research
LED Work Light Market: Overview
The LED work light market may gain good momentum in terms of growth across the forecast period of 2019-2029 due to the growing demand from residential segments and the overwhelming benefits it provides. These high-intensity light fixtures are mainly used by technicians to assist them in their work temporarily. The use of LED work lights is increasing among many end-users due to benefits like longevity, durability,…
Dissolved Gas Analyzer Market 2025 | TMR Research
Global Dissolved Gas Analyzer Market: Overview
The high electrical and thermal stress leads to decomposition of mineral oils used inside a power transformer. This in turn leads to generation of hydrogen (H2), carbon di-oxide (CO2), carbon mono-oxide (CO), methane (CH4), ethylene (C2H4), and acetylene (C2H2) among others. The formation of these gases depends upon the faults in the transformer.
To evaluate the nature of the gases and their potential threats, dissolved gas…
Tumblers Market 2028 | TMR Research
The tumblers market is expected to set growth straight with rising demand for new attractive designs for liquors including alcoholic, and non-alcoholic in emerging region of Asia pacific. The rising disposable income, increasing access to quality products, and new product launches customised to suit the taste of the region promise major growth for the tumblers market in near future.
Download Brochure of This Market Report at - https://www.tmrresearch.com/sample/sample?flag=B&rep_id=6200
Among regions, North America,…
Hyperloop Train Market 2025 | TMR Research
Global Hyperloop Train Market: Snapshot
The global market for hyperloop train is likely to exhibit high-speed expansion in the next few years. The demand for cheap and quick modes of transport that incur low base-costs and are built on easier-to-construct infrastructure, are immune to natural calamities such as earthquakes are the key factors expected to work in favor of the global hyperloop train market.
Request Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=2000
The…
Crowdsourced Security Market 2018 - 2028 | TMR Research
Crowdsourced Security Market: Overview
The global crowdsourced security market is expected develop at a healthy pace in the coming years of the forecast period of 2018 to 2028. The mobile phone application segment of the crowdsourced security market is expected to develop at a rapid pace in these coming years. The rate of adoption of these mobile application is growing at a great pace and is thus helping the market to…
