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Optoelectronics - United States

United States
  • Revenue in the Optoelectronics market is projected to reach US$6.08bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.80%, resulting in a market volume of US$6.99bn 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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In-Scope

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

Out-Of-Scope

  • Liquid crystal displays
  • Incandescent lamps
Optoelectronics: market data & analysis - Cover

Market Insights report

Optoelectronics: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Optoelectronics market in the United States has been experiencing significant growth in recent years.

    Customer preferences:
    One of the key customer preferences in the Optoelectronics market in the United States is the demand for high-quality and energy-efficient products. Consumers are increasingly looking for optoelectronic devices that offer superior performance while also being environmentally friendly. This has led to a rise in the adoption of LED lighting solutions, as they are known for their energy efficiency and long lifespan. Additionally, there is a growing preference for optoelectronic devices that are compact and lightweight, making them more portable and convenient for everyday use.

    Trends in the market:
    One major trend in the Optoelectronics market in the United States is the increasing use of optoelectronic devices in the automotive industry. The demand for advanced driver assistance systems (ADAS) and autonomous vehicles has led to a surge in the adoption of optoelectronic sensors such as LiDAR (Light Detection and Ranging) and cameras. These sensors play a crucial role in enabling autonomous driving by providing real-time data on the vehicle's surroundings. As the automotive industry continues to invest in developing autonomous technology, the demand for optoelectronic devices is expected to further increase. Another trend in the market is the growing popularity of wearable devices. Optoelectronic components such as OLED (Organic Light Emitting Diode) displays and sensors are being integrated into smartwatches, fitness trackers, and augmented reality (AR) glasses. The increasing health consciousness among consumers and the desire for personalized and immersive experiences are driving the demand for these wearable devices. As a result, the Optoelectronics market in the United States is witnessing a rise in the production and sales of optoelectronic components for wearable technology.

    Local special circumstances:
    The United States has a strong research and development (R&D) ecosystem, which has contributed to the growth of the Optoelectronics market. The presence of leading universities, research institutes, and technology companies in the country has fostered innovation in the field of optoelectronics. This has led to the development of cutting-edge technologies and the commercialization of new products in the market. Additionally, the United States has a large consumer base and a robust distribution network, which facilitates the widespread adoption of optoelectronic devices.

    Underlying macroeconomic factors:
    The growth of the Optoelectronics market in the United States is also influenced by macroeconomic factors such as GDP growth, consumer spending, and government policies. A strong economy and favorable consumer sentiment have led to increased spending on electronic devices, including optoelectronics. The government's focus on promoting energy efficiency and sustainability has also played a role in driving the adoption of optoelectronic devices, particularly LED lighting solutions. Furthermore, the United States has a well-established regulatory framework that ensures the safety and quality of optoelectronic products, which instills confidence among consumers and encourages market growth. In conclusion, the Optoelectronics market in the United States is experiencing growth due to customer preferences for high-quality and energy-efficient products, the increasing use of optoelectronic devices in the automotive industry, and the popularity of wearable technology. The country's strong R&D ecosystem, large consumer base, and favorable macroeconomic factors contribute to the overall development of the market. As technology continues to advance and consumer demands evolve, the Optoelectronics market in the United States is expected to witness further expansion in the coming years.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Methodology

    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.

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    Optoelectronics: market data & analysis - BackgroundOptoelectronics: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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