Infrared Optoelectronics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Infrared Optoelectronics Market Analysis
The Global Infrared Optoelectronics Market is expected to register at a CAGR of 7.5 % over the forecast period (2021-2027).With the Outbreak of COVID-19, IRay Technology, a high-tech company specializing in infrared FPA detectors and thermal imaging modules, moved quickly to start producing infrared thermal imagers. As a result, infrared thermal imaging is the optimal and advanced technology, with a wide range of screening, real-time monitoring, and precision of 0.3°C to 0.5°C.
- The National Science Foundation announced to fund a new effort to bring atomic-level precision to the equipment and technologies that underpin much of modern life, which will change industries such as information technology in the coming decades. For instance, in September 2021, The Center for Integration of Modern Optoelectronic Materials on Demand announced a five-year, USD 25 million Science and Technology Center grant sponsored by the University of Washington.
- Growing consumption of advanced manufacturing and fabricating technologies is further driving the consumption of optoelectronic components in the industrial sector, with the use of Infrared (IR) Inspection windows.
- Furthermore, COVID-19 pandemic is espected to impact the given market's growth positively as, Infrared Optoelectronics is an essential component of several modern technologies. In recent years, the healthcare and automotive industries have become important adopters of infrared optoelectronics. The use of infrared optical sensors in biosensing applications in the healthcare business allows for monitoring heart rate and other key organs in the human body.
- Furthermore, the growing need for advanced technologies in the automobile industry is creating a market opportunity for infrared optoelectronics. Most automakers are incorporating infrared components in their vehicles for ambient light detection, estimate, gestured control of the infotainment panel, and night vision. These new application areas help Optoelectronics expand its market share in rising industries.
Infrared Optoelectronics Market Trends
This section covers the major market trends shaping the Infrared Optoelectronics Market according to our research experts:
IR Components in Healthcare Sector Witnesses Growth
- The applications of IR Components have moved on rapidly in recent years. Major equipment manufacturers are incorporating more infrared optoelectronic technology into their current designs, increasing the variety of possibilities of these devices in patient care. Medical equipment and solutions must give higher performance and dependability at the component level than many other complex systems.
- Tissue analysis and medical imaging are aided by biomedical spectroscopy. The combination of unique wavelengths in the infrared (IR) adds to the diagnostic capabilities of blood, urine, and other body fluids, which is driving the market growth.
- Middle infrared optoelectronic absorption systems have been developed to monitor glucose in a physiological solution. The systems can be used to monitor glucose levels, and these technologies can lead to a helpful diabetic monitoring device, limiting the ubiquitous issues connected with the condition.
- Further, in April 2021, The Mid-Infrared Silicon Photonic Sensors for Healthcare and Environmental Monitoring (MISSION) project, led by Graham Reed combined expertise in photonics, electronics, medical and environmental sensing, and packaging to fully realize the potential of integrated photonics. In current silicon photonics applications, near-infrared wavelengths (1.2 m - 1.6 m) are used. The development of chip-scale sensors in the mid-infrared wavelengths (3-15m), also known as the fingerprint area, will be crucial to this project because it allows sensors to detect unique identifiers in biological and chemical components.
Asia Pacific Expected to Witness Significant Market Share
- Asia-Pacific holds a prominent share of the market due to a significant number of vendors operations in the region. Increasing investments in the development of smart infrastructure and focus in automation technologies will be key in the growth of the market in this region while growing investments in infrastructure development are likely to further support the market.
- The Thailand government launched an EV action plan in 2016 to encourage the production of BEVs and PHEVs to have 1.2 million such vehicles on the road by 2036. As a result, 13 companies have benefited from preferential tax treatment for electric vehicles. Thailand announced an EV roadmap in March 2020 to produce 250,000 EVs by 2025 and establish an ASEAN EV hub, which will drive the market growth.
- Japan holds a significant position in the market as it is home to some of the significant chipset manufacturers and electronics industry. The country focuses on luring companies and engaging in partnerships with other nations to boost its market growth.
Infrared Optoelectronics Industry Overview
The competitive rivalry in the Infrared Optoelectronics Market is moderate owing to the presence of major players like Vishay Intertechnology, Inc, OSRAM International GmbH, Panasonic Corporation, among others.
- July 2021- Volpi, one of the prominent players in optoelectronics with operations in the United States and Switzerland partnered with Netherlands-based TOPIC Embedded Systems to expand its portfolio of optoelectronic measurement solutions and further advance its digital initiatives. Product development is already underway and Volpi and TOPIC are actively collaborating on the client engagements.
- April 2021 - Panasonic Corporation developed a manufacturable technology to significantly increase device performance produced on silicon (Si) wafers by harnessing the unique feature of a phononic crystal structure, which can overcome the traditional constraint of solids' heat insulation property. The heat loss from the infrared-receiving region of a thermal-type far infrared sensor was decreased to about one-tenth of the initial sensor without the phononic crystal structure.
Infrared Optoelectronics Market Leaders
Sharp Corporation
Vishay Intertechnology, Inc.
ROHM Co., Ltd.
OSRAM International GmbH (ams AG)
Omnivision Technologies Inc
*Disclaimer: Major Players sorted in no particular order
Infrared Optoelectronics Market News
- February 2021 - Toshiba Electronics Europe GmbH announced a new addition to its expansive optoelectronics portfolio. The TLP241 Bisahigh-current Photorelay, targeted at use in industrial equipment, such as programmable logic controllers(PLCs) and I/O interfaces, as well as building automation systems like HVAC
- March 2021 - Mitsubishi electric., introduced Electric Diode InfraRed (MelDIR) sensor, The new MelDIR sensor accurately distinguishes between humans and other heat sources and enables the identification of specific human behavior, such as walking, running, or raising hands.
Infrared Optoelectronics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Porters Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID -19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Demand for Smart Consumer Electronics and Next Generation Technologies
5.1.2 Increasing Usage Of IR Compnents In Health Care Sector
5.2 Market Restraints
5.2.1 High Manufacturing and Fabricating Costs
6. MARKET SEGMENTATION
6.1 By Range
6.1.1 Near-Infrared
6.1.2 Mid-Infrared
6.1.3 Long-Infrared
6.2 By End User
6.2.1 Aerospace & Defense
6.2.2 Automotive
6.2.3 Information Technology
6.2.4 Consumers electrionics
6.2.5 Healthcare
6.2.6 Residential and Commercial
6.2.7 Industrial
6.2.8 Others
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Vishay Intertechnology, Inc.
7.1.2 OSRAM International GmbH (ams AG)
7.1.3 Omnivision Technologies Inc
7.1.4 Panasonic Corporation
7.1.5 Maxim Integrated
7.1.6 Sharp Corporation
7.1.7 ROHM Co., Ltd.
7.1.8 TT Electronics PLC
- *List Not Exhaustive
8. INVESTMENTS ANALYSIS
9. FUTURE TRENDS
Infrared Optoelectronics Industry Segmentation
Optoelectronics allows communication between the optics and the electronics that includes designing, studying and manufacturing of a hardware device that converts electrical energy into light energy and light into energy through semiconductors. Near- and mid-infrared optoelectronic devices are utilized in sensing and telecommunication, and are suitable for intra/inter chip optical connections.
The Study covers infrared optoelctronics range that include near-infrared, mid-infrared, long-infrared and tracks the usauge of infrared optoelctronics across major end-users such as automotive, aerospace & defense, consumer rlectronics, information technology, healthcare, residential and commercial, industrial . The study also covers demand across various regions and study considers the impact of COVID-19 on the market.
| By Range | |
| Near-Infrared | |
| Mid-Infrared | |
| Long-Infrared |
| By End User | |
| Aerospace & Defense | |
| Automotive | |
| Information Technology | |
| Consumers electrionics | |
| Healthcare | |
| Residential and Commercial | |
| Industrial | |
| Others |
| Geography | |
| North America | |
| Europe | |
| Asia-pacific | |
| Latin America | |
| Middle East and Africa |
Infrared Optoelectronics Market Research FAQs
What is the current Global Infrared Optoelectronics Market size?
The Global Infrared Optoelectronics Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)
Who are the key players in Global Infrared Optoelectronics Market?
Sharp Corporation, Vishay Intertechnology, Inc., ROHM Co., Ltd., OSRAM International GmbH (ams AG) and Omnivision Technologies Inc are the major companies operating in the Global Infrared Optoelectronics Market.
Which is the fastest growing region in Global Infrared Optoelectronics Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Infrared Optoelectronics Market?
In 2024, the North America accounts for the largest market share in Global Infrared Optoelectronics Market.
What years does this Global Infrared Optoelectronics Market cover?
The report covers the Global Infrared Optoelectronics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Infrared Optoelectronics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Infrared Optoelectronics Industry Report
Statistics for the 2024 Global Infrared Optoelectronics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Infrared Optoelectronics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
