The North America Optoelectronic Components Market should witness market growth of 4.4% CAGR during the forecast period (2023-2029).
The wavelength is longer in optoelectronic components and devices. Therefore, they are affordable to produce and simple to do. These gadgets use powerful light sources. P-n junction devices, in which the carriers are produced by photons, are what make up optoelectronic junction devices. Optocouplers, LEDs, laser diodes, image sensors, photovoltaic cells, and other components are the primary categories of optoelectronics components.
Optoelectronics is utilized in LED devices such as indication lights, computer parts, watches, medical devices, switches, instrument panels, consumer electronics, home appliances, traffic signals, fiber-optic communication, and automotive brake lights. Among the various materials used are gallium nitride, gallium arsenide, gallium phosphide, silicon germanium, silicon carbide, and indium phosphide. These materials are used by end-users in the automotive, aerospace & defense, information technology, healthcare, consumer electronics, residential & commercial, industrial, and other sectors.
Automotive optoelectronic component sales are predicted to increase in the region. During the forecast period, the growing popularity of electric vehicles, the rise in sales of luxury vehicles, and increased auto production will all have an effect on market growth. The demand for laser diodes is likely to increase as electric mobility becomes more prevalent across substantial portions of North America. The use of laser diode technology in the region will likely be followed by Canada and Mexico after the United States. In addition to these, it is expected that the rising tendency of young people for high-end and luxury vehicles will create lucrative prospects.
The US market dominated the North America Optoelectronic Components Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $12,262 million by 2029. The Canada market is poised to grow at a CAGR of 6.7% during (2023-2029). Additionally, The Mexico market should witness a CAGR of 5.8% during (2023-2029).
Based on Material, the market is segmented into Gallium Nitride, Gallium Arsenide & Gallium Phosphide, Silicon Carbide, Indium Phosphide, and Silicon Germanium. Based on Application, the market is segmented into Measurement, Lighting, Communication, Security & Surveillance, and Others. Based on Component, the market is segmented into Sensor, LED, and Laser Diode & Infrared Components. Based on Vertical, the market is segmented into Consumer Electronics, Telecommunication, Automotive, Military & Aerospace, Medical, Manufacturing, Commercial, Residential, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hamamatsu Photonics K.K., OSRAM GmbH (AMS AG), TT electronics PLC, Vishay Intertechnology, Inc., ON Semiconductor Corporation, Cree, Inc. (SMART Global Holdings, Inc.), TRUMPF GmbH + Co. KG, Sick AG, Broadcom, Inc. and Samsung Electronics Co., Ltd. (Samsung Group).
The wavelength is longer in optoelectronic components and devices. Therefore, they are affordable to produce and simple to do. These gadgets use powerful light sources. P-n junction devices, in which the carriers are produced by photons, are what make up optoelectronic junction devices. Optocouplers, LEDs, laser diodes, image sensors, photovoltaic cells, and other components are the primary categories of optoelectronics components.
Optoelectronics is utilized in LED devices such as indication lights, computer parts, watches, medical devices, switches, instrument panels, consumer electronics, home appliances, traffic signals, fiber-optic communication, and automotive brake lights. Among the various materials used are gallium nitride, gallium arsenide, gallium phosphide, silicon germanium, silicon carbide, and indium phosphide. These materials are used by end-users in the automotive, aerospace & defense, information technology, healthcare, consumer electronics, residential & commercial, industrial, and other sectors.
Automotive optoelectronic component sales are predicted to increase in the region. During the forecast period, the growing popularity of electric vehicles, the rise in sales of luxury vehicles, and increased auto production will all have an effect on market growth. The demand for laser diodes is likely to increase as electric mobility becomes more prevalent across substantial portions of North America. The use of laser diode technology in the region will likely be followed by Canada and Mexico after the United States. In addition to these, it is expected that the rising tendency of young people for high-end and luxury vehicles will create lucrative prospects.
The US market dominated the North America Optoelectronic Components Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $12,262 million by 2029. The Canada market is poised to grow at a CAGR of 6.7% during (2023-2029). Additionally, The Mexico market should witness a CAGR of 5.8% during (2023-2029).
Based on Material, the market is segmented into Gallium Nitride, Gallium Arsenide & Gallium Phosphide, Silicon Carbide, Indium Phosphide, and Silicon Germanium. Based on Application, the market is segmented into Measurement, Lighting, Communication, Security & Surveillance, and Others. Based on Component, the market is segmented into Sensor, LED, and Laser Diode & Infrared Components. Based on Vertical, the market is segmented into Consumer Electronics, Telecommunication, Automotive, Military & Aerospace, Medical, Manufacturing, Commercial, Residential, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hamamatsu Photonics K.K., OSRAM GmbH (AMS AG), TT electronics PLC, Vishay Intertechnology, Inc., ON Semiconductor Corporation, Cree, Inc. (SMART Global Holdings, Inc.), TRUMPF GmbH + Co. KG, Sick AG, Broadcom, Inc. and Samsung Electronics Co., Ltd. (Samsung Group).
Scope of the Study
By Material
- Gallium Nitride
- Gallium Arsenide & Gallium Phosphide
- Silicon Carbide
- Indium Phosphide
- Silicon Germanium
By Application
- Measurement
- Lighting
- Communication
- Security & Surveillance
- Others
By Component
- Sensor
- LED
- Laser Diode & Infrared Components
By Vertical
- Consumer Electronics
- Telecommunication
- Automotive
- Military & Aerospace
- Medical
- Manufacturing
- Commercial
- Residential
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Hamamatsu Photonics K.K.
- OSRAM GmbH (AMS AG)
- TT electronics PLC
- Vishay Intertechnology, Inc.
- ON Semiconductor Corporation
- Cree, Inc. (SMART Global Holdings, Inc.)
- TRUMPF GmbH + Co. KG
- Sick AG
- Broadcom, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. North America Optoelectronic Components Market by Material
Chapter 5. North America Optoelectronic Components Market by Application
Chapter 6. North America Optoelectronic Components Market by Component
Chapter 7. North America Optoelectronic Components Market by Vertical
Chapter 8. North America Optoelectronic Components Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Hamamatsu Photonics K.K.
- OSRAM GmbH (AMS AG)
- TT electronics PLC
- Vishay Intertechnology, Inc.
- ON Semiconductor Corporation
- Cree, Inc. (SMART Global Holdings, Inc.)
- TRUMPF GmbH + Co. KG
- Sick AG
- Broadcom, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
Methodology
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