Industrial Control and Factory Automation Market worth $229.3 billion by 2025

 

According to the new market research report,  "Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry, and Geography - Global Forecast to 2025", the global industrial control and factory automation market size is projected to reach USD 229.3 billion by 2025 from USD 151.8 billion in 2020, at a CAGR of 8.6%. The growth of this market can be driven by the factors such as increasing use of enabling technologies in manufacturing, rising adoption of industrial robots in the manufacturing sector, connected supply chain along with mass production to meet the demands of rising population, government initiatives toward the adoption of industrial automation in various industries.

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Browse 79 market data Tables and 46 Figures spread through 198 Pages and in-depth TOC on "Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry, and Geography - Global Forecast to 2025"

“Sensors to capture largest market share of global industrial control and factory automation market for components”

Sensors are an essential part of industrial control and factory automation solutions. Manufacturers of sensors are continuously focusing on developing advanced solutions to help end users in enhancing their production efficiency. The smart sensor can transform simple motor into intelligent machines, which inform machine operators about the operating conditions of machines and about their servicing requirements to avoid unexpected machine breakdowns, optimizing the performance of machines. Hence, it is expected to capture the largest market share in the component of the industrial control and factory automation market by 2025.

“Process automation and control in industrial manufacturing plant drives growth for DCS ”

DCS held the largest market share of the industry control and factory automation market. This growth is attributed to a high rate of industrialization in developing economies. Developing countries have expansion and capacity addition plans related to the power sector, which would boost the demand for DCS. DCS provides process automation and control in industrial manufacturing plants that drive the industrial control and factory automation market. The advantages of using DCS systems in manufacturing plants are decision integrity, simplified operations, and increasing productivity. Some of the application areas of DCS are oil & gas, automobile, chemical, food & beverages, and pharmaceuticals industries.

 “APAC to be largest market for industrial control and factory automation during forecast period.”

The market in Asia Pacific (APAC) comprises Japan, China, India, and RoAPAC. APAC is expected to be the fastest-growing region for the industrial control and factory automation market due to the technological innovations and high adoption of automation technologies in various industries. The major application areas for industrial control and factory automation in APAC are chemicals, oil & gas, water, semiconductor, electronics, food, and automobiles. China is one of the major players from the APAC region in the industry control and factory automation market. China has been working on an innovative industrial practice by implementing automation technologies in manufacturing. In addition, research institutes and corporates are collaboratively working to improve Chinas manufacturing processes. Further, in China, industrial intellectualization and information integration remain the main focus of the government industrial policy. This initiative is expected to increase the demand for industrial control and factory automation in this country.

Major players operating in the industrial control and factory automation market Emerson (US), ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider (France), Endress+Hauser (Switzerland), Yokogawa (Japan), Honeywell (US), WIKA (Germany), Azbil (Japan), Fuji Electric (Japan), 3D Systems (US), HP (US), FANUC (Japan), STRATASYS (US), Progea (Italy), Hitachi (Japan), Vega (Germany), Danfoss (Denmark), Tegan Innovations (Ireland), Krohne (Germany), Rockwell (US), Chaos Prime (US), and Dwyer (US), among many others.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Human Machine Interface Market expected to reach $5.6 billion by 2025

 

The report "Human Machine Interface Market (HMI) by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2025", was valued at USD 4.3 billion in 2020 and is expected to reach USD 5.6 billion by 2025, at a CAGR of 5.2% over the forecast period. Factors that drive the growth of the market include the surging adoption of industrial automation in the manufacturing sector, the evolution of industrial internet of things (IIoT), growing demand for smart automation solutions, and rising need for efficiency and monitoring in manufacturing plants.

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Notable companies present in the APAC human machine interface market include Advantech Co, Ltd (Taiwan), Emerson Electric Co. (US), General Electric (US), Honeywell International, Inc (US), Mitsubishi Electric Corporation (Japan), Schneider (Europe), and Yokogawa (Japan).

Browse 104 market data Tables and 59 Figures spread through 174 Pages and in-depth TOC on "Human Machine Interface Market (HMI) by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2025"

Configuration-wise, embedded HMI segment to dominate HMI market during forecast period

The human machine interface market for embedded HMI is expected to hold the largest share of the market by 2025. Embedded HMIs offer an integrated environment which is much simpler and user-friendly. These HMIs help to significantly enhance efficiency, which has favored their adoption among end users. Hence, the embedded HMI market is expected to witness notable growth throughout the forecast period. Embedded HMIs are combined with powerful hardware and software platforms to use device capabilities to their fullest extent. Furthermore, a connected embedded platform is a part of an intelligent system; it is connected to a network that enables easy communication between two machines and provides easy access to the operator.

Offering-wise, software segment to capture highest CAGR during forecast period

HMI software allows operators to interact, manage, and operate a system while also allowing the acquisition of data for processing. HMI software includes configuration software, data acquisition software, data analysis software, monitoring and controlling software, and programming software. The HMI software segment has been further divided into on-premise HMI solutions and cloud-based HMI solutions. Manufacturing companies are increasingly adopting advanced technologies, such as cloud-based solutions, to gain a competitive advantage by improving the efficiency of manufacturing processes, which is encouraging the adoption of more scalable and flexible HMIs.

Process industry-wise, pharmaceuticals segment is anticipated to register highest CAGR from 2020 to 2025

The pharmaceuticals industry discovers, produces, and markets drugs and medicines across the world.  Pharmaceutical companies need better control over operations to keep pace with the innovations taking place in the industry. Maintaining safety, consistency, and efficiency in manufacturing processes is the basic requirement of the pharmaceuticals industry to ensure that products are of the highest quality. Thus, pharmaceutical companies are using HMI solutions to minimize downtime, reduce cost of operations, and gain process visibility.

HMI market in APAC to grow at highest CAGR from 2020 to 2025

The human machine interface market in APAC is expected to grow at the highest CAGR from 2020 to 2025. The adoption of HMI solutions in APAC is high due to the burgeoning growth of the manufacturing sector in the region. Various industries are shifting their manufacturing bases in APAC to capitalize on the availability of skilled, cheap labor in the region, which has transformed it into a major manufacturing hub. The process and discrete manufacturing industries present in the region are progressively adopting automated technologies, which is one of the major factors driving the growth of the HMI market in APAC.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Submarine Cable System Market expected to reach $22.0 billion by 2025

 

The report "Submarine Cable System Market by Application (Communication (Component, Offering (Installation & Commissioning, Upgrades)), Power (Type, Voltage, End User (Offshore Wind Power Generation, Offshore Oil & Gas), and Region - Global Forecast to 2025", is expected to grow from USD 13.0 billion in 2020 to USD 22.0 billion by 2025 at a CAGR of 11.1%. The growth of the submarine cable system industry can be attributed to the growing number of internet connections worldwide, a surge in bandwidth globally, an increasing number of new offshore wind capacity additions, and growing demand for inter-country & island connections.  Moreover, an increase in the investments for the deployment of high-capacity communication systems by over-the-top (OTT) players and increasing demand for high-voltage direct current (HVDC) submarine power cable are expected to create considerable growth opportunities for the development of the global submarine cable system sector.

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Major players in the submarine power cable market include Prysmian (Italy), Nexans (France), and NKT (Denmark), and key players in the submarine communication cable market are Alcatel-Lucent (France), SubCom (Switzerland), and NEC Corporation (Japan), among others.

Browse 62 market data Tables and 28 Figures spread through 150 Pages and in-depth TOC on "Submarine Cable System Market by Application (Communication (Component, Offering (Installation & Commissioning, Upgrades)), Power (Type, Voltage, End User (Offshore Wind Power Generation, Offshore Oil & Gas), and Region - Global Forecast to 2025"

The wet plant products segment held a larger share of the submarine communication cable market during the forecast period.

The growth of the wet plant products segment can be attributed to an increase in the demand for cables, repeaters, and branching units for laying them on the ocean beds, unlike dry plant products such as SLTE, which can be upgraded according to the bandwidth requirements.

Offshore wind power generation to hold the largest size of the submarine power cable market during the forecast period

According to the Global Wind Energy Council (GWEC), the UK is the world’s largest offshore wind market and accounted for a share of ~34% of the global installed wind energy capacity in 2019. It was followed by Germany, which accounted for a share of ~28% of the total installed capacity in the same year. China accounted for a share of ~20% of the global offshore installed capacity of wind energy in 2019. Moreover, countries such as the UK, Germany, China, Japan, and Taiwan plan to invest significantly to expand and develop their regional offshore wind energy industry. These factors are expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.

The single-core segment is projected to lead the submarine power cable market from 2020 to 2025

The growth of this segment can be attributed to the increased use of single-core cables as they are easy to deploy and are suitable for covering longer lengths than multicore cables. Moreover, upcoming extra-high voltage projects in APAC, Europe, and North America are expected to drive the growth of the single-core segment of the submarine power cable market during the forecast period.

Trans-Pacific submarine communication cable market to grow rapidly in the coming years

Submarine communication cable systems deployed in the Trans-Pacific region aim at not only enhancing the submarine system capacity along their respective routes but also focus on edging out the competition in terms of communication latency. These new systems provide increased route diversity— especially along the southern part of the region. According to the Information Technology and Innovation Foundation (ITIF) 2019 report, ~30% of the expected deployments of submarine communication cables in the Trans-Pacific region aim at increasing capacity and reducing latency among Asia, Australia, and the US from 2019 to 2021.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Light Control Switches Market expected to reach $10.1 billion by 2025

 

According to the new market research report, "Light Control Switches Market by Product Type (Switches, Dimmers), Communication Technology (Wired, Wireless), End-use Application, Switch Solutions (Standalone, Integrated), Light Source, Geography - Global Forecast to 2025", The light control switches market is estimated to grow from USD 6.6 billion in 2020 and projected to reach USD 10.1 billion by 2025, at a CAGR of 8.9%. The major factors driving the growth of the light control switches market include the advent of integrated lighting control systems, ongoing and upcoming smart city projects in developing economies, increasing adoption and reduction in prices of LEDs, and growing awareness about energy savings among consumers and governments worldwide.

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Some of the major players in the light control switches market are Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Lutron Electronics (US), Schneider Electric (France), Honeywell International Inc. (US), Ideal Industries (US), Adesto Technologies (Echelon Corporation), Panasonic (Japan), Helvar (Finland), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), and Dialight PLC (UK).

Browse 105 market data Tables and 55 Figures spread through 162 Pages and in-depth TOC on "Light Control Switches Market - Global Forecast to 2025"

“DALI protocol to hold the largest size of light control switches market for wired communication technology during the forecast period.”

In 2019, the DALI protocol held the largest share of wired communication technology. As of now, DALI is the predominant communication technology used owing to its ease of installation, open protocol, and requirement of less branch wiring than traditional controls. However, technology is not seen as a dominant protocol in the future due to the escalated demand for wireless technologies.

“Light control switches market for electronic switches is expected to exhibit high growth during the forecast period.”

Electronic switches include wireless switches, sensor-based switches, and others. The adoption of electronic switches is increasing owing to their ability to control lights effectively and ensure higher energy savings, leading to very high growth during the forecast period.

“APAC to hold the largest share of light control switches market during the forecast period.”

APAC accounted for a significant share of the light control switches market in 2019. APAC is expected to be the fastest-growing region for the light control switches market during the forecast period owing to the rapid infrastructure-related activities being undertaken in this region, mainly in China, where smart lighting paves the way for the modernization of infrastructure. Factors such as the ever-growing population, increasing per capita income, as well as vast geographic expansions, have indirectly contributed to the growth of the market for light control switches in the Asian countries.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Underfloor Heating Market expected to reach $6.6 billion by 2025

 

According to the research report "Underfloor Heating Market by Offering (Hardware, Services), Subsystem (Heating System, Control System), System Type (Hydronic, Electric), Application (Residential, Commercial, Industrial), Component, Installation Type, Region - Global Forecast to 2025", the underfloor heating market size is estimated to grow from USD 4.6 billion in 2020 to USD 6.6 billion by 2025, at a CAGR of 7.3%. Strong government support and incentives for the development and adoption of energy-efficient heating solutions is one of the factors fueling the growth of this market.

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Uponor (Finland), Honeywell (US), nVent Electric (UK), Warmup (UK), and Rehau (Switzerland) are the key players in the underfloor heating market. These players are increasingly undertaking strategies such as product launches and developments, partnerships, agreements, and contracts to increase their market share.

Browse 88 market data Tables and 52 Figures spread through 158 Pages and in-depth TOC on "Underfloor Heating Market by Offering (Hardware, Services), Subsystem (Heating System, Control System), System Type (Hydronic, Electric), Application (Residential, Commercial, Industrial), Component, Installation Type, Region - Global Forecast to 2025"

“Hardware offerings accounted for larger share of underfloor heating market in 2019.”

Hardware offerings accounted for a larger share of the underfloor heating market in 2019. The growth of the market is attributed to the increasing demand for hardware such as heating pipes and cables, distribution units, and manifolds for use in hydronic and electric underfloor heating systems.

“Market for new installations of underfloor heating systems expected to grow at highest CAGR during forecast period”

New installations would dominate the underfloor heating market during the forecast period mainly because of favorable government regulations and tax credit facilities on the installation of energy-efficient systems and a high focus on energy saving and minimizing energy bills. Underfloor heating systems also reduce installation cost in new builds where developers use on-site laborers to install basic systems and use specialist contractors to commission and connect electric systems and boilers.

“Market for control systems integrated into underfloor heating systems expected to grow at higher CAGR during forecast period”

The market for control systems integrated into underfloor heating systems is expected to grow at a higher CAGR during the forecast period. The growth of the control system is mainly due to the rising adoption of sensors and control interfaces. Apart from this, energy-efficiency-related standards laid by various countries in Europe would further increase the adoption of smart devices and control systems, which would subsequently increase the adoption of control systems for use in underfloor heating systems.

“Residential application accounted for largest share of underfloor heating market in 2019”

The residential application held the largest share of the underfloor heating market in 2019due to the increasing awareness about the benefits of underfloor heating systems in residential properties. The high growth rate of the underfloor heating market for the residential application is mainly due to the growing refurbishment activities in many developed nations. Underfloor heating is considered to be ideal for new builds and also becoming more popular for renovations because of new product innovations in this area.

“Europe is expected to dominate underfloor heating market during forecast period”

The European market is expected to grow at the highest CAGR during the forecast period due to the growing trends of zero-carbon emissions and tax-credit benefits policies adopted by various governments in European countries. Also, many players are offering portable electric underfloor heating systems in Europe, which would further increase the adoption of underfloor heating systems.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Optoelectronic Components Market expected to reach $52.7 billion by 2025

 According to the new research report "Optoelectronic Components Market by Component (Sensor, LED, Laser Diode, and Infrared Components), Application (Measurement, Lighting, Communications, and Security & Surveillance), Material, Vertical, and Region - Global Forecast to 2025", the global optoelectronic components market size is projected to grow from USD 41.4 billion in 2020 to USD 52.7 billion by 2025, recording a CAGR of 5.0%. Emerging opportunities for optoelectronic components and R&D could lead to innovation in the optoelectronic components industry. Promising industrial IoT applications provide major growth opportunities to market players. The optoelectronic components industry growth is mainly driven by the increased use of infrared components in consumer electronics & automobiles, long life & low power consumption, demand for improved imaging & optical sensing solutions in the healthcare vertical and suitable physical properties of optoelectronic sensors to operate in harsh environments.

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Key players operating in the optoelectronic components market include Hamamatsu (Japan), Osram (Germany), TT Electronics (UK), Vishay (US), ON Semiconductor (US), Cree (US), Trumpf (Germany), SICK AG (Germany), Samsung (South Korea), Sony (Japan), and Broadcom (US). Other major companies focus on organic and inorganic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to increase their revenue.

Browse 110 market data Tables and 74 Figures spread through 239 Pages and in-depth TOC on "Optoelectronic Components Market - Global Forecast to 2025"

Sensor component to witness the highest CAGR during the forecast period

The sensor component is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to the usage of several types of sensors, including optical, image, phototransistors, photodiodes, and photo relays for varied applications across several industries. The sensor component segment has been further subsegmented into phototransistors, photodiodes, photo relays, image sensors, optical sensors, and ultraviolet sensors.

Measurement application to hold the largest share in the optoelectronic components industry during the forecast period

The application segment comprises measurement, lighting, communications, security & surveillance, and others (geographical survey, scanning, and spectrometry). The measurement segment in the optoelectronic components market is projected to hold the largest share during the forecast period. Measurement systems use optoelectronic sensors to convert light signals to electric current and are used for several applications such as machine vision, monitoring of process and operations, control of process & operation, and experimental engineering analysis, among others.

Silicon carbide material to witness the highest CAGR during the forecast period

Silicon carbide material is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to its inherent radiation resistance, high temperature operating capacity, and high voltage & power handling capacity. Moreover, the flexibility of silicon carbide can be used as substrate. Therefore, silicon carbide has gained traction in several applications across verticals such as telecommunication, automotive, medical, military, industrial, and more.

Consumer electronics vertical to hold the largest share in the optoelectronic components industry during the forecast period

The vertical segment comprises automotive, consumer electronics, telecommunication, military & aerospace, medical, residential, commercial, manufacturing, and others (utility, food & beverages, and pulp & paper). The consumer electronics segment is projected to hold the largest share during the forecast period.  The adoption of optoelectronic components in the consumer electronics sector has increased due to technological advancements and the increasing use of consumer goods such as high-end sophisticated cameras, photocopy machines, smartphones, blue-ray storage devices, and flat & flexible television displays, and more.

Presence of prominent system suppliers to drive the demand for pressure sensors in North America during the forecast period

The optoelectronic components market in North America is projected to grow at the highest CAGR during the forecast period. The US, Canada, and Mexico are the major contributors to the growth of the market in North America.

North America is one of the most technologically advanced markets for optoelectronic components owing to the presence of prominent system suppliers, large semiconductor companies, LED, laser, and sensor manufacturers in the region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Compound Semiconductor Market expected to reach $43.4 billion by 2025

 

The report "Compound Semiconductor Market with COVID-19 Impact Analysis by Type (GaN, GaAs, SiC, InP), Product (LED, RF Devices, Power Electronics), Application (Telecommunication, General Lighting, Automotive, Power Supply), and Geography - Global Forecast to 2025", size is expected to grow from USD 32.0 billion in 2020 to USD 43.4 billion by 2025, at a CAGR of 6.3%. The increasing use of compound semiconductors in LED applications has fueled the demand for compound semiconductors. The growing demand and implementation of GaN and SiC in the semiconductor industry is expected to play a vital role in the growth of the compound semiconductor market.

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Major players in the compound semiconductor market include Nichia (Japan), Samsung Electronics (South Korea), ams (Austria), Qorvo (US), Skyworks (US), Cree (US), GaN Systems (Canada), Infineon (Germany), Mitsubishi Electric (Japan), NXP (Netherlands), and ON Semiconductor (US).

Browse 168 market data Tables and 63 Figures spread through 249 Pages and in-depth TOC on "Compound Semiconductor Market with COVID-19 by Geography - Global Forecast to 2025"

The compound semiconductor market includes major Tier I and II players like Nichia, Samsung Electronics, ams, Qorvo, and Skyworks. These players have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and RoW. COVID-19 has impacted their businesses as well. Multiple manufacturing facilities of players have shut down due to COVID-19. We expect that the semiconductor industry would decline significantly globally in 2020 due to COVID-19. This also translates into a snowballing effect on the compound semiconductor market. This could lead to lower research expenditure related to compound semiconductors.

Increasing use of GaN in LED and RF devices is expected to result in the segment occupying majority of the compound semiconductor market share

GaN is estimated to have the largest market share by value. GaN has been increasingly used in LED, semiconductor power devices, and radiofrequency (RF) devices. GaN LEDs are used in applications such as general lighting, consumer devices, commercial, and automotive. GaN is mostly used in LED applications owing to its wide-bandgap properties. LED contributes to the largest share of the GaN market. GaN is used to make white LEDs. Increasing demand for GaN LEDs in various applications, such as general lighting, signage, and automobiles, is expected to drive the growth of the GaN market.

GaN is also finding importance in RF devices as GaN devices have the ability to combine high RF power output over broad bandwidths at high frequencies. As industry shifts towards the adoption of 5G networks for >6GHz, band silicon will not be able to meet various requirements of networks as silicon devices operate well below 3GHz. In the higher frequencies being utilized for 5G, such as 3.5 GHz, GaN is more efficient than LDMOS/Silicon devices. Hence GaN will gain traction for 5G applications, particularly for base station power amplifiers

Telecommunication application segment is estimated to be the largest market

Telecommunication application is estimated to be the largest segment in the compound semiconductor market. 5G is providing a huge opportunity for compound semiconductors for telecom applications. The growth of telecommunication application is mainly driven by increasing demand for RF devices. Rapid advancements in the telecom sector are witnessed by developed and emerging countries across the world. The technological shift from 3G to 4G/LTE and now into 5G has increased the network traffic through mobile devices and resulted in increased network interferences across the communication channels. As industry shifts towards the adoption of 5G, RF content used per smartphones expected to increase, this would drive the growth of the market during the forecast period. To meet all the requirements for 4G and 5G, including saturated and linear efficiency, it is necessary to use a power amplifier manufactured with compound semiconductor technology, which is expected to drive the market growth during the forecast period.

APAC likely to emerge as the largest compound semiconductor market

APAC is estimated to be the largest market for compound semiconductors during the forecast period. The rapid market penetration of GaN and SiC in power devices, where GaN and SiC devices are increasingly replacing silicon counterparts, is predominant across several application segments in APAC. For power devices, the growing number of GaN and SiC power applications creates huge revenue potential in this region. This attracts several industry players to mass-commercialize GaN and SiC power devices for several power applications, which, in turn, are increasing the revenue potential of the compound semiconductor market in this region.

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