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Global Optoelectronic Transistor Market Predicted to Grow at a Significant CAGR During 2022–2031; Increasing Demand for Optoelectronic Transistor in Consumer Electronics to Elevate Growth-Research Nester

·10-min read
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Key Companies Covered in the Global ‘Optoelectronic Transistor Market’ Research Report by Research Nester are Osram Licht AG, Honeywell International Inc., KODENSHI Corporation, Cypress Semiconductor Corporation, Diodes Incorporated, STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, SHARP Fukuyama Semiconductor Co., Ltd., Vishay Intertechnology Inc, and others key market players.

New York, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Optoelectronic Transistor Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:

  • Market growth over the forecast period

  • Detailed regional synopsis

  • Market segmentation

  • Growth drivers

  • Challenges

  • Key market players and their detailed profiling

Global Optoelectronic Transistor Market Size:

The global optoelectronic transistor market is estimated to grow at a significant CAGR over the forecast period. The field of optoelectronics focuses on devices that emit or sense light, such as blue lasers, solar cells, telecommunication lasers, photodiodes, LED traffic lights, and optical fiber. Increasing adoption of these technological devices across various end-use sectors is anticipated to boost market growth. Apart from this, optoelectronic transistor is widely used in medical devices. For instance, an endoscope is a medical device that uses optical fibers to produce an image of the interior of the body. During an endoscopy, a physician may take tissue samples to examine for illnesses and ailments, including gastroesophageal reflux disease, celiac disease, or cancer. Therefore, the increasing prevalence of such diseases will boost the optoelectronic transistor market growth across the healthcare sector. For instance, the fifth most frequent cancer in the world is stomach cancer. It ranks as the seventh most prevalent cancer in women and the fourth most prevalent cancer in males. In 2020, there were over a million new cases of stomach cancer. Moreover, increasing adoption of solar cells all over the world, owing to the growing demand for affordable, reliable, sustainable, and renewable energy in almost every sector, is predicted to fuel the market's growth. According to the UN, by 2030, upgrade technology and infrastructure to provide modern, sustainable energy services to all developing nations, especially the least developed, small island developing states, and isolated developing nations, in accordance with their specific support plans. Also, by 2026, the growth in the world's electricity capacity is expected to come almost entirely from renewable sources, with solar PV accounting for more than half. It is anticipated that between 2021 and 2026, there will be a 50% increase in renewable capacity compared to the period between 2015 and 2020.

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Global Optoelectronic Transistor Market: Key Takeaways

  • North America region gains the largest share of the revenue

  • Optical sensor segment to dominate the revenue graph

  • Resin enclosed segment to be prominent in the type segment. 

Increased Usage of Electronic Components Such as OLEDs, LEDs, And Compact Discs to Boost Market Growth

An optoelectronic transistor is exclusively used in electronic components that emit light, such as LEDs, OLEDs, and compact discs. OLEDs are being used in TVs, tablets, computers, digital cameras, and mobile phones. The growing demand for these electronic products in almost every sector worldwide is responsible for the market's development over the forecast period. For instance, in 2021, 7 million OLED TVs were estimated to be exported globally. This is an increase of 73 percent from 2020, when more than 4 million OLED television sets were sold worldwide. Further, the rising demand for smartphones is projected to drive the market owing to the exclusive use of LEDs, and OLED screens in smartphones. According to recent statistics a total of 7% hike was observed for smartphone.

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Furthermore, LEDs are widely used in aviation lighting, automotive heat lamps, and other similar products. The light-emitting diode (LED) is the most energy-efficient and fast-developing form of lighting technology currently available. The tremendous efficiency that LEDs offer makes them a popular choice in a variety of industrial applications. Moreover, high-quality LED bulbs perform better than other types of lighting in terms of durability, lifespan, and light output. LEDs are widely used as street lights, parking or garage lighting, pathway lighting, outdoor area lighting, refrigerator lighting, and others. Increasing demand for these lighting products will upsurge the optoelectronic transistor market in the forecast period. According to a report by IEA, global LED use has increased substantially in recent years, rising from a market share of 5% in 2013 to more than half of global lighting sales in 2020.

Global Optoelectronic Transistor Market: Regional Overview

The global optoelectronic transistor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.

Huge Production of Consumer Electronics to Drive Growth in the Asia Pacific Region

The global optoelectronic transistor market in the Asia-Pacific region is estimated to witness modest growth over the forecast period on the basis of high production of consumer electronics such as televisions, washing machines, DVD players, refrigerators, laptops, smartphones, and tablets. The ASEAN area is the source of significant amounts of the world's consumer electronics, including computers, radios, TVs, and mobile phones. Hard drives are produced in ASEAN to a greater than 82% global extent. Moreover, the growing population in the Asia-Pacific countries will increase the use of consumer electronics in the region, which will contribute to the market's growth in the forecast period. According to a research, the use of smartphones reached 65% in 2020, and by 2025, it is predicted to reach 80%. Apart from this, the rapid rise in global import and export of electronics will also drive the market growth in the upcoming years.

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High Demand for Optoelectronic Transistor to Favor Market Growth in The North America Region

On the other hand, the North American region is anticipated to gain the largest share in the global optoelectronic transistor market over the forecast period owing to the high demand for optoelectronic transistors in the production of electrical industrial machinery and medical equipment.

For instance, the United States was the top exporter of medical instruments in 2020, with a value of USD 28 billion. Considering the fact that North America is the largest exporter of various goods that utilize optoelectronic transistors, it is predicted that this region will witness major market expansion. Besides, increasing adoption of LED lights all across the region is also predicted to boost the market's growth in the upcoming years.

According to the Residential Energy Consumption Survey (RECS), light-emitting diode (LED) bulbs are used by more and more American families. In 2020, 47% Americans were using LEDs for most or all of their interior illumination.

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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:

  • North America (U.S., Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America)

  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)

  • Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Global Optoelectronic Transistor Market, Segmentation by Application

    • Circuit Coupling

    • Optical Sensors

    • Others

The optical sensor segment is estimated to hold a significant market share over the forecast period. Optical sensors are frequently used in smartphones to control screen brightness and even in smartwatches to detect the wearer's heart rate. Increasing demand for such items, especially in urban areas worldwide, will drive the market's growth in the future. In 2021, the smartwatch market generated sales of about 40 billion dollars worldwide. According to a study, the revenue is expected to increase over the next years and close to USD 60 billion in 2026.

Moreover, optical sensors are also used in the biomedical field, including breath analysis and heart rate monitors. Advancement in medical science and an increased requirement for medical tools with optical sensors is also anticipated to drive the market growth. According to WTO, the share of medical products in global trade expanded from 5.3% in 2019 to 6.6% in 2020. Additionally, optical sensors are generally used in surveillance equipment, robots, drones, optical communication systems, and aerospace. The usability of optical sensors in such a wide range of products will drive the market growth in the forecast period.

Global Optoelectronic Transistor Market, Segmentation by Type

    • Tank Enclosed

    • Resin Enclosed

    • Others

The resin-enclosed segment is estimated to hold the largest market share during the forecast period. The growth of the segment can be attributed to the high usage of resin for creating long-lasting castings, floors, countertops, and other things. Also, it is frequently used for insulating electronic and electrical components. Hence, the rising number of users of such items where resin is normally used worldwide will increase the market growth in the upcoming future. For instance, users in the consumer electronics category are anticipated to reach 2,875 million by 2025.

Do You Have Any Query Or Specific Requirement? Ask to Our Expert:

Few of the well-known market leaders in the global ear and nasal packing market that are profiled by Research Nester are Osram Licht AG, Honeywell International Inc., KODENSHI Corporation, Cypress Semiconductor Corporation, Diodes Incorporated, STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, SHARP Fukuyama Semiconductor Co., Ltd., Vishay Intertechnology Inc, and others.

Recent Developments in the Global Optoelectronic Transistor Market

  • In Jun 2022, STMicroelectronics stated that the newest AMOLED energy-saving panels are compatible with their touch controller.

  • In May 2022, Infineon announced that together with PMD Technologies, it has created 3D depth-sensing technology for Magic Leap 2 that enables cutting-edge industrial and medical applications.

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