Optocouplers Market Size Forecast to Reach $4.3 Billion by 2026t a CAGR of 8.5% during 2021-2026.

Optocouplers Market Size is forecast to reach $4.3 billion by 2026, at a CAGR of 8.5% during 2021-2026. Optocouplers are also called opto-isolators which physically isolates high voltage circuit systems from neighboring low-voltage systems and hence isolates the unwanted signals. Optocouplers are widely used in military, navy and aerospace space as it provides new isolation technologies giving rise to hermatic, extreme operation temperature and others. Optocouplers are widely used in phototransistors which are further used in most demanding applications such as smart buildings for ambient light sensing and street light sensing as they ensure signal isolation. Automatic street light circuits, simple fire alarm and others are equipped with the light dependent resistors which are using optocouplers which consist of an LED that produces infra-red light and a semiconductor photo-sensitive device and is used to detect the emitted infra-red beam. Moreover, optocouplers are used in galvanic isolation which are majorly used in automotive applications to prevent the triggering of dangerous ground loops. The rising penetration of image sensors and energy-efficient LEDs and the smart grids and smart meter along with the shift in global automotive toward electric and connected vehicles also given rise to the extensive development of the optocouplers market.

Optocouplers Market Segment Analysis - By Product Type

IC output optocouplers segment held significant market share of 33.29% in 2020, owing to the growing need for energy efficient devices worldwide along with the rising consumer electronics market. According to Intelligence Node, the number of smartphone users in United States crossed 260 million in April 2020, and smartphone shipments reached $161 million in 2019. This upsurge in usage of electronics devices and growth in consumer electronics industry have driven the demand for optocouplers. Moreover, these are finding their applications in automotive sectors as these are used for galvanic isolation along with the semiconductor industry where these are used as phototransistor and light dependent resistors. The government of United Kingdom funded $5 billion for the rural areas in 2020. It is an fiber investment to enhance the communication channels in the rural areas of the U.K. as the demand for fast internet has increased along with the surge in smartphone, laptops users. In addition, the rapid increase in the consumer electronics market and growing technological adoption in emerging economies such as China and India will enhance regional growth in the forecast period 2020-2026.

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Optocouplers Market Segment Analysis - By End Users

Consumer Electronics is expected to witness a highest CAGR of 9.15% during the forecast period. In the recent years, the consumers are increasingly concerned about long term growth in personnel wealth resulting in demand for consumer electronics as the consumers are using smart phones, television, personal computer. The surging demand for adopting gaming devices along with policy adopted by numerous businesses called Bring Your Own Devices (BYOD) are driving the growth of the market. Business laptops have enhanced connectivity options and with the increase in foreign direct investment in retail and e-commerce have boosted the market. In addition, growth of laptops, tablets and other electronic gadgets largely for business needs, work from home scenario, online classes, and gaming sectors are accelerating the market growth. Hence these factors are analyzed to drive the Optocouplers Market Size in the forecast period 2021-2026.

Optocouplers Market Segment Analysis - By Geography

APAC region is dominating optocouplers Market growth. This region held significant market share of 31.22% in 2020. Asia-Pacific is one of the most significant regions for the optocouplers market, mainly due to growth of semiconductor manufacturing along with the automotive sector. Also, the region is the largest producer of consumer electronics leading to the surge in smartphones, laptops uses. In 2020, the Chinese government raised around $23-30 billion to pay for the second phase of its National IC Investment Fund which has boosted the market growth as the optocouplers provides isolation between low and high voltage circuits in the ICs. The expansion of the consumer electronics industry throughout the region is bolstering the demand for optocouplers in the region. China is the hub of largest smartphone companies worldwide, posing tremendous opportunities for the optocouplers market. According to India Electronics and Semiconductor Association, the semiconductor component market in the country is expected to be worth $ 32.35 billion by 2025. Thus, the governments ongoing Make in India initiative is expected to result in investments in the Electronics and semiconductor industry in the country, further providing ample opportunities for the optocouplers market.

Optocouplers Market Drivers

Rise in demand for Electric Vehicles:

The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. Major manufacturers such as General Motors, Toyota, and BMW plan to release a potential of 400 models and estimated global sales of 25 million by 2025. In 2021, Ford Motor has committed to increase its investments in electric vehicles to $30 billion by 2025, up from a previous spend of $22 billion by 2023. Similarly, in 2020, Volkswagen, Chinese ventures has committed to invest $17.5 billion in electric vehicles by 2025. As the optocouplers are high power converters due to which these are used to insulate high voltages and isolate unwanted signals. Moreover, increasingly used in powertrain systems to enhance their function and efficiency. Hence these investments are analyzed to drive the optocouplers industry in the forecast period 2021-2026.

Growth of the consumer electronics such as tablets, smartphones, laptops and others:

Optocouplers are used in laptops, tablets, smartphones and others as these consists of an LED that produces infra-red light and a semiconductor photo-sensitive device that is used to detect the emitted infra-red beam. Japan has been facing high market growth towards consumer electronics products in 2019, thus making it the third largest industry contributing towards its economy. Technological advancements towards advanced laptops, smartphones and others for high definition gaming are set to drive innovations in the field of consumer products have caused major players in the country to invest towards developing smart devices. Such growing advancements are expected to boost the market demands towards optocouplers market. The major industries accounting for the nation’s economy are automotive, electronics and Heathcare. In addition, the International Monetary Fund estimates the GDP growth forecast for Japan to be in the range of 1-1.5%, hence these capacity expansion are analysed to drive the Optoelectronics industry outlook in the forecast period 2021-2026.

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Optocouplers Market Challenges

Sales of Consumer Electronics Products declined post COVID-19 outbreak:

The sales of consumer electronics products such as desktops, smartphones and others declined post COVID-19 outbreak owing to low demand of products hindering the growth of the market. According to Mint, Worldwide PC shipments totaled 51.6 million units in the first quarter of 2020, a 12.3% decline from the first quarter of 2019, after three consecutive quarters of growth, the worldwide PC market experienced its sharpest decline since 2013 due to the COVID-19 outbreak which is set to negatively impact the procurement of optocouplers during the forecast period 2021-2026.

Optocouplers Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Optocouplers Market. Top players operative in Optocouplers Market are Broadcom, Inc., ON Semiconductor Corporation, Vishay Intertechnology, Inc., Senba Sensing Technology Co. Ltd., Isocom Components Ltd., Panasonic Corporation, Profit Golden Ltd.,  Renesas Electronics Corporation, Toshiba Electronic Devices & Storage Corporation, Shenzhen Kento Electronic Co. Ltd. among others.

Acquisitions/Product Launches

In September 2020, Toshiba Electronic Devices launched a new package of optocouplers for IGBTs and MOSFET grade named TLP5751H (LF4), TLP5752H (LF4) and TLP5754H (LF4).

In March 2020, Vishay Technology, Inc. launched automotive grade phototransistor named “VOMA618A” in a compact SOP- 4 mini flat-flat package to save energy and high reliability in automotive applications.

Key Takeaways

Asia-Pacific is one of the most significant regions for the optocouplers market, mainly due to growth of the automotive sector where optocouplers are majorly used in the powertrain systems.

Consumer Electronics sector is expected to witness a highest CAGR of 9.15% the forecast period, owing to various factors such as increase in sales of smart phones, laptops, tablets and others in countries such as India, China and so on.

Optoelectronics are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities of the semiconductor manufacturing equipment along with a vision to come up with solutions to cater to the changing requirements of customers.

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