Optoelectronic Components Market to be worth US$137.44 bn by 2023, Driven by Consumers’ Desire to Own Upgraded Electronic
The global optocouplers market has been covered under the scope of this report. The advancement in the automobiles and industrial applications has propelled the growth of companies which produce optocouplers. Optocouplers are capable of isolating different voltage levels thus safeguarding components from voltage spikes in the same circuit. These components are highly used in automobiles, industrial applications, communication sector and printer & imaging devices among others. The primary purpose of the optocouplers is to isolate or step down from high voltage current to low voltage current. New technologies for isolation are giving rise to high speed, high operation temperature and low input current optocouplers..
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Global optocouplers market is primarily driven by factors such as growth of industrial and automotive sector in emerging markets. Industrial automation communication and automotive sectors are witnessing high demand for optocouplers in developing countries such as China, India, and others. The market in these regions are mainly driven by huge investment for faster communication systems and demand for high end automotives The increase in automation in the manufacturing sector is driving the growth of the market as the optocouplers forms an integral part of the automation process. Optocouplers are required to isolate electrical current in various components and transfer data while isolating noise. Moreover, increasing demand for hybrid vehicles (HEVs) globally is driving the market for optocouplers. Considering all these positive impacts, demand for optocouplers is set to rise during the forecast period, i.e., 2015 to 2021.
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The global optocouplers market has been broadly segmented into four regions, North America, Europe, Asia Pacific and RoW (Rest of the World). In terms of revenue, Europe acquired the largest share of the market in 2014 followed by Asia Pacific. Rise in the demand of optocouplers is witnessed in the industrial and the automotive sectors. The primary factors which are driving European market includes increasing demand for automation in manufacturing companies, rising demand for HEVs and communication sector. Growth of optocouplers market in Asia-Pacific region can be attributed to the high demand in industrial application and automotive sector.
The global optocouplers market, by product types is bifurcated into six segments such as 4 pin optocouplers, 6 pin optocouplers, high speed optocouplers, IGBT gate drivers, isolation amplifiers and others..
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Some of the leading players in the market are, Avago Technologies (United States), Fairchild Semiconductor (United States), Vishay Intertechnology (United States), and Renesas Electronics (Japan) among others.
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