Market Size of Europe Optoelectronics Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 9.36 % |
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?
Europe Optoelectronics Market Analysis
The Europe Optoelectronics market is expected to register a CAGR of 9.36% during the forecast period (2021 - 2026). The outbreak of COVID-19 affected the production facilities of automotive industries across the globe. COVID-19 outbreak in European countries affected the automobile industry in the region. Spain, Russia, UK, Italy, France, and Germany is the worst-affected country after the United States, and the unprecedented lockdown of the country has heaped fresh pressure on the region's ailing car sector.Due to the COVID-19 outbreak, there was a slight increase in some components, such as laser transmitters due to the demand of increased bandwidth; however, it saw a downfall in other component demands such as image sensors in automobiles, infrared devices, etc.
- The increasing involvement of regional government in promoter search programs has enhanced many semiconductors-oriented industries, and it is supported by high technology connectivity environment. For instance, the German Government is committed to increasing the number of research companies to 20,000 and innovative companies to 140,000 by the year 2020.
- According to Germany Trade & Invest, Germany's electronics, and electrical companies manufacture more than 100 thousand different electronic products and systems, ranging from automation systems, electronic medical equipment, automotive electronics, and microelectronic components.
- In the automotive industry, OEMs have been focusing on developing the next generation of electrified, autonomous vehicles. The United Kingdom is encouraging the adoption of autonomous cars. The UK government also funded GBP 100 million to the UK Connected Intelligence Transport Environment(UKCITE), a project that aims to create an advanced environment for testing autonomous and connected vehicles, which include technologies, such as emergency vehicle warning(EVW), road works warning(RWW), emergency electronic brake light(EEBL), and traffic condition warning(TCW).
- Furthermore, the United Kingdom is the leading destination for foreign direct investment into the European Union, with a growing proportion coming in high technology sectors. With the significant expertise in design and manufacturing, combined with policy and a business-friendly environment, the United Kingdom lighting industry offer significant investment opportunities to businesses through collaboration and direct investment.
- The outbreak of COVID-19 affected the production facilities of automotive industries across the globe. COVID-19 outbreak in European countries affected the automobile industry in the region. Spain, Russia,United Kingdom, Italy, France, and Germany is the worst-affected country after the UnitedStates, and the unprecedented lockdown of the country has heaped fresh pressure on thee region's ailing car sector.
Europe Optoelectronics Industry Segmentation
Optoelectronics allows communication between the optics and the electronics that includes designing, studying, and manufacturing a hardware device that converts electrical energy into light energy and light into energy through semiconductors. Optoelectronic devices find their applications in telecommunication laser, blue laser, optical fiber, LED traffic lights, photodiodes, and solar cells. The Europe Optoelectronics Market is segmented by Component type (LED, Laser Diode, Image Sensors, Optocouplers, Photovoltaic Cells), End-User Industry (Automotive, Aerospace, and Defense, Consumer Electronics, Information Technology, Healthcare, Residential and Commercial, Industrial) and Country.
By Component type | |
LED | |
Laser Diode | |
Image Sensors | |
Optocouplers | |
Photovoltaic Cells | |
Other Component Types |
By End-user Industry | |
Automotive | |
Aerospace and Defense | |
Consumer Electronics | |
Information Technology | |
Healthcare | |
Residential and Commercial | |
Industrial | |
Other End-user Industries |
By Country | |
United Kingdom | |
Germany | |
France | |
Italy | |
Rest of Other Countries |
Europe Optoelectronics Market Size Summary
The Europe Optoelectronics market is poised for significant growth, driven by advancements in technology and increasing demand across various sectors. The automotive industry, in particular, is witnessing a surge in the adoption of optoelectronic devices for enhancing vehicle safety and automation. This includes the integration of LEDs for lighting and safety features, as well as advanced systems like night vision and driver assistance technologies. The region's focus on electrified and autonomous vehicles, supported by government initiatives and funding, is further propelling the market. Countries like Germany and the United Kingdom are at the forefront, with substantial investments in research and development, fostering a conducive environment for innovation in optoelectronics.
The market landscape is characterized by intense competition, with major players such as Osram Licht AG, Koninklijke Philips NV, and Panasonic Corporation leading the charge. Strategic partnerships and mergers have been pivotal in expanding market share and enhancing product offerings. Germany, in particular, stands out with its robust photonics industry and a strong presence of international companies, benefiting from government support and a thriving research culture. The demand for LED solutions, driven by stringent energy regulations and a shift towards energy-efficient technologies, is expected to sustain the market's growth trajectory. As Europe continues to embrace high-tech solutions, the optoelectronics market is set to experience substantial expansion, offering lucrative opportunities for businesses and investors alike.
Europe Optoelectronics Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Value Chain/Supply Chain Analysis
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1.3 Industry Attractiveness -Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitutes
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1.3.5 Intensity of Competitive Rivalry
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1.4 Assessment of COVID-19 on the market
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2. MARKET SEGMENTATION
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2.1 By Component type
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2.1.1 LED
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2.1.2 Laser Diode
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2.1.3 Image Sensors
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2.1.4 Optocouplers
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2.1.5 Photovoltaic Cells
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2.1.6 Other Component Types
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2.2 By End-user Industry
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2.2.1 Automotive
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2.2.2 Aerospace and Defense
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2.2.3 Consumer Electronics
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2.2.4 Information Technology
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2.2.5 Healthcare
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2.2.6 Residential and Commercial
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2.2.7 Industrial
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2.2.8 Other End-user Industries
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2.3 By Country
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2.3.1 United Kingdom
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2.3.2 Germany
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2.3.3 France
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2.3.4 Italy
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2.3.5 Rest of Other Countries
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Europe Optoelectronics Market Size FAQs
What is the current Europe Optoelectronics Market size?
The Europe Optoelectronics Market is projected to register a CAGR of 9.36% during the forecast period (2024-2029)
Who are the key players in Europe Optoelectronics Market?
Osram Licht AG, Koninklijke Philips NV, Panasonic Corporation, Texas Instruments Inc. and Mitsubishi Electric are the major companies operating in the Europe Optoelectronics Market.