Optoelectronics - New Zealand | Statista Market Forecast

Revenue in the Optoelectronics market is projected to reach US$25.59m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.74%, resulting in a market volume of US$29.29m 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 New Zealand is experiencing significant growth and development. Customer preferences in the Optoelectronics market in New Zealand are driven by the increasing demand for high-quality and energy-efficient products. Customers in New Zealand are becoming more conscious of the environmental impact of their purchases and are seeking products that are both technologically advanced and environmentally friendly. Additionally, customers in New Zealand value products that offer convenience and ease of use, as well as those that are aesthetically pleasing. Trends in the market include the increasing adoption of LED lighting solutions. LED lighting is gaining popularity in New Zealand due to its energy efficiency and long lifespan. LED lighting is also more environmentally friendly compared to traditional lighting options, as it does not contain harmful substances such as mercury. Another trend in the Optoelectronics market in New Zealand is the growing demand for display technologies, particularly in the consumer electronics sector. New Zealand consumers are increasingly purchasing devices with high-resolution displays, such as smartphones and televisions, driving the demand for advanced display technologies. Local special circumstances in New Zealand contribute to the development of the Optoelectronics market. New Zealand has a high level of solar radiation, making it an ideal market for solar energy products. The government of New Zealand has also implemented policies and incentives to promote the use of renewable energy sources, further driving the demand for optoelectronic products such as solar panels. Additionally, New Zealand has a strong focus on sustainability and environmental conservation, which aligns with the customer preferences for energy-efficient and environmentally friendly products. Underlying macroeconomic factors also play a role in the development of the Optoelectronics market in New Zealand. The country has a stable economy with a growing middle class, which has increased the purchasing power of consumers. This has led to a higher demand for consumer electronics and other optoelectronic products. Furthermore, advancements in technology and manufacturing processes have made optoelectronic products more affordable and accessible to a wider range of consumers in New Zealand. In conclusion, the Optoelectronics market in New Zealand is experiencing growth and development driven by customer preferences for high-quality, energy-efficient, and environmentally friendly products. The increasing adoption of LED lighting solutions and advanced display technologies are key trends in the market. Local special circumstances, such as the country's focus on sustainability and its high level of solar radiation, contribute to the development of the market. Underlying macroeconomic factors, including a stable economy and advancements in technology, also play a role in the growth of the Optoelectronics market in New Zealand.

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 are expected to surpass 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.