The Optocouplers Market was valued at USD 2.64 billion in 2019 and is expected to reach USD 4.38 billion by 2025, at a CAGR of 8.8% over the forecast period 2020 - 2025. Optocouplers are components capable of isolating different voltage levels thus keeping safe components from voltage spikes in the same circuit. The rapid advancement in the automotive and industrial applications is expected to propel the growth of the optocouplers market.
- Automotive and industrial are the two major revenue-generating sectors in the market, particularly in the emerging nations. The significant investments in the communication segment are also impacting the growth of the optocouplers market.
- The rapid increase in automation across various verticles is also influencing the optocouplers market. Moreover, the rising demand for hybrid electric vehicles (HEVs) as consumers are shifting towards the hybrid car mode owing to its power-saving abilities is also driving the growth of the market.
- Optocouplers are basically used for isolation of components that requires low voltage to operate and also for transferring data. With the increasing penetration of high-end vehicles with advanced driver assistance systems and various industrial applications for isolating components is driving the market for optocouplers.
- Advanced driver assistance system in automotive requires an electronic control unit (ECU) to operate which runs on a considerably low voltage. This step down of voltage and isolation is achieved through an optocoupler, which is a key factor for the growth of the market.
Scope of the Report
An Optocoupler is an electronic component that connects two separate electrical circuits by means of a light-sensitive optical interface. An optocoupler basically 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.
Key Market Trends
Industrial Sector to Occupy Significant Share in the Market
- The industrial sector holds a significant share of the optocouplers market due to the use of these components in various applications. These optocouplers are designed for usage in a variety of isolation applications ranging from motor control circuits and power supply to data communication and digital logic interface circuits.
- Moreover, owing to the increasing demand in industrial robots, motor control, power supplies, and industrial networking, the growth of optocouplers in the industrial sector is expected to increase during the forecast period.
- The rapid growth in the field of automation and increasing requirements of electrical isolation from higher voltage devices are also impacting the growth of the market.
- With the increasing supply of industrial robots for various end-user industries across the globe, it is expected to boost the demand for optocouplers as they are used in various types of industrial robots, thus driving the market.
Asia Pacific to Witness Significant Growth
- The optocouplers market in the Asia Pacific region is majorly driven by factors such as the growth of the industrial and automotive sector in emerging economies in this region.
- Automotive sectors and industrial automation communication are witnessing increased demand for optocouplers in developing nations like India, China, and others.
- The optocouplers market in this region is primarily driven by huge investments for faster communication systems and the increasing demand for high end automotive. Moreover, the increased adoption of automation in the manufacturing sector is also driving the market as optocouplers forms an integral part of the automation process.
- Furthermore, the growth of hybrid electric vehicles and the advancements in isolation techniques are some of the drivers boosting the growth of the market studied. Hybrid electric vehicles have a wide range of application of optocouplers in their powertrain, and charging unit.
The optocouplers market is highly competitive owing to the presence of many large and small players in the market operating in multiple countries. The market appears to be moderately concentrated moving towards the fragmented stage. Major players are adopting strategies like product innovation and mergers and acquisitions to expand their reach and stay ahead of the competition. Some of the major players in the market are Analog Devices, Inc., Texas Instruments Incorporated, Toshiba Corporation, Renesas Electronics Corporation among others.
- November 2018 - Vishay Intertechnology, Inc. announced the release of two new optocouplers with a phototriac output in the compact flat SOP-4 package. It features high off-state voltage of 800V and dV/dt of 1000 V/μs. Vishay Semiconductors VOT8024AM and VOT8121AM deliver high robustness and noise isolation for home appliances and industrial equipment.
- March 2018 - Toshiba electronic devices & storage corporation is expanding its line-up of SO6L IC-output photocouplers with a new wide lead form package type SO6L (LF4).
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support