Optoelectronics - CIS | Statista Market Forecast

Revenue in the Optoelectronics market is projected to reach US$57.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.67%, resulting in a market volume of US$59.41m by 2029.
In global comparison, most revenue will be generated China (US$13.32bn in 2024).

Definition:

The Optoelectronics market includes semiconductor devices that are used for light sensing and emitting functionalities. This includes devices such as displays, light-emitting diodes (LED), optical switches, etc.

Additional Information:

The Optoelectronics market comprises revenue and revenue change as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B), and governments (B2G).

Key players in this market include Osram, Sony Corporation, ON Semiconductor, Sharp Corporation, etc.,

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Displays
Laser sensors and transmitters
Optical couplers & isolators
Optical switches
Image sensors
Infrared emitters and detectors

Liquid crystal displays
Incandescent lamps

The Optoelectronics market in CIS is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in the Optoelectronics market in CIS are shifting towards more advanced and innovative products. Customers are increasingly looking for optoelectronic devices that offer higher performance, improved energy efficiency, and enhanced functionality. This is driving manufacturers to invest in research and development to meet these evolving customer demands. Additionally, customers in the CIS region are becoming more conscious of the environmental impact of their purchases and are favoring optoelectronic devices that are eco-friendly and sustainable. Trends in the market are also playing a significant role in the growth of the Optoelectronics market in CIS. One major trend is the increasing adoption of optoelectronic devices in various industries such as telecommunications, automotive, healthcare, and consumer electronics. The demand for optoelectronic components such as LEDs, image sensors, and laser diodes is on the rise as these industries incorporate advanced technologies into their products and services. Another trend is the growing popularity of wearable devices and smart home automation systems, which rely heavily on optoelectronic sensors and components. Local special circumstances in the CIS region are contributing to the development of the Optoelectronics market. The region has a strong manufacturing base and a skilled workforce, which enables the production of high-quality optoelectronic devices at competitive prices. Additionally, the CIS region has a growing consumer market with increasing disposable incomes, which is driving the demand for optoelectronic products. Furthermore, government initiatives and policies aimed at promoting technological advancements and innovation are creating a favorable business environment for optoelectronics manufacturers in the region. Underlying macroeconomic factors are also supporting the growth of the Optoelectronics market in CIS. The region is experiencing economic stability and steady GDP growth, which is boosting consumer confidence and spending. This, in turn, is driving the demand for optoelectronic devices. Furthermore, the increasing integration of the CIS region with the global economy is opening up new opportunities for optoelectronics manufacturers to expand their market reach and tap into international markets. In conclusion, the Optoelectronics market in CIS is witnessing significant growth and development due to changing customer preferences, emerging market trends, favorable local circumstances, and underlying macroeconomic factors. Manufacturers in the region are focusing on innovation and advanced technologies to meet customer demands, while government support and economic stability are creating a conducive environment for the market's expansion.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at the manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use the annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Governments and companies across the entire semiconductor value chain have had to navigate changing demands, supply chain imbalances, and geopolitical factors in recent times. As a result, action plans and policies have had to be established to safeguard the supply of semiconductors. In 2024, global semiconductor sales surpassed 600 billion U.S. dollars, a jump from the previous year as the industry reaps the rewards from the artificial intelligence (AI) revolution sweeping across the world.