Optoelectronics - Hong Kong | Statista Market Forecast

Revenue in the Optoelectronics market is projected to reach US$4.81bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.13%, resulting in a market volume of US$5.61bn 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 Hong Kong has experienced significant growth in recent years, driven by customer preferences for advanced technology and the local special circumstances of the region. Customer preferences in Hong Kong have played a major role in the development of the Optoelectronics market. Hong Kong consumers have a strong demand for high-quality and innovative electronic products. They value the latest technology and are willing to invest in advanced optoelectronic devices. This has led to the introduction of a wide range of optoelectronic products in the market, including displays, sensors, and lighting solutions. In addition to customer preferences, there are several trends in the market that have contributed to its growth. One of the key trends is the increasing adoption of optoelectronics in various industries. Optoelectronic devices are being used in sectors such as healthcare, automotive, and consumer electronics, among others. This trend is driven by the need for improved efficiency, accuracy, and reliability in these industries. Another trend in the market is the development of advanced display technologies. Hong Kong is known for its expertise in the display industry, and there has been a significant focus on the development of technologies such as OLED and MicroLED displays. These technologies offer higher resolution, better color reproduction, and improved energy efficiency, which are highly valued by consumers. The local special circumstances in Hong Kong have also contributed to the growth of the Optoelectronics market. Hong Kong is a major hub for international trade and has a well-developed logistics infrastructure. This makes it easier for companies to import and export optoelectronic products, leading to a wider availability of these products in the market. Additionally, Hong Kong has a highly skilled workforce and a strong culture of innovation, which has facilitated the development of new optoelectronic technologies. Underlying macroeconomic factors have also played a role in the growth of the Optoelectronics market in Hong Kong. The region has a strong and stable economy, which has provided a favorable business environment for companies operating in the optoelectronics sector. Additionally, Hong Kong has a large consumer base with high purchasing power, which has created a strong demand for optoelectronic products. Overall, the Optoelectronics market in Hong Kong has experienced significant growth due to customer preferences for advanced technology, the adoption of optoelectronics in various industries, the development of advanced display technologies, the local special circumstances of the region, and the underlying macroeconomic factors. This growth is expected to continue in the coming years as the demand for optoelectronic products continues to rise.

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.