Post a CommentOptoelectronics Poised for Strong Growth
Online Staff -- Electronic News, 11/11/2005
Market research firm Research and Markets said today that even though fiber is recovering within the optoelectronics market, the market will continue to be dominated by applications other than communications, namely data storage and lighting.
The market for LEDs of all types will continue to see some of the best growth in the opto market, the Dublin-based market research firm reported. The annual growth rate will be 23 percent from a 2003 market of $3.5 billion to $9.9 billion by 2008.
Meanwhile, the launch of new devices, such as the violet laser, will provide significant market opportunities. More importantly, it will provide openings in new applications, Research and Markets said. Combining devices will enable multi-wavelength response and hence multi-function instruments to aid diagnostics and chemical analysis, for example, the firm suggested.
Computers and related applications remain among the most important segments of the optoelectronic components market, however, making up 21 percent of the total market in 2003. Volumes of devices shipped will continue to increase but with the price pressure the overall trend will be to limit the value of the PC market.
According to the firm's study: "Optoelectronics - A Strategic Study 3rd Edition," the worldwide market for optoelectronic components was an estimated $9 billion in 2003 and forecast to grow by an annual average growth rate of 20 percent to more than $22.3 billion by 2008. Meanwhile, the total market for materials used in the manufacture of optoelectronics was an estimated $850 million in 2003 and is forecast to see an annual average growth rate of 16.3 percent to $1.8 billion by 2008.
During 2004, the market witnessed further strong growth, and although some sectors experienced a slowdown in the final months of the year, which continued into 2005, the industry through 2008 and beyond is forecast to show strong and sustained growth, Markets and Research concluded. The total worldwide optoelectronics materials and devices market will be close to $25 billion value within five years, the firm said.
