The Infrared Optoelectronics Market Size was valued at USD 14.20 billion in 2022. The Infrared Optoelectronics Market industry is projected to grow USD 20.82 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.90% during the forecast period (2023 - 2032). The increasing demand for optical solutions in the healthcare and automotive industry verticals, growing demand for smart consumer electronics devices, and increasing need for durable and low-power consuming components are expected to be significant market drivers for the infrared optoelectronics market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for infrared optoelectronics is being driven by the Increasing automotive industry and the growing need for advanced technologies in the automobile industry. The primary objective of electronic components is to enhance the performance and efficiency of powertrain systems in automobiles. These components play a crucial role in facilitating communication, signal detection, and overall management of activities within powertrain systems, contributing to increased safety and improved vehicle performance. In the current automotive landscape, modern vehicles are increasingly equipped with electronic components, including sensors, to meet evolving technological demands. Against this backdrop, the burgeoning automotive sector is anticipated to drive market growth over the forecast period. Euromonitor predicts that automotive unit sales will reach 78 million units in 2022, surpassing pre-pandemic 2019 levels by 10% over 2021, which itself saw a 10% increase over 2020. This upward trajectory in OEMs' profits, with many achieving record highs, underscores the positive outlook for the automotive industry.
The escalating demand for advanced technologies within the automobile industry presents a significant market opportunity for infrared optoelectronics. Automakers are increasingly integrating infrared components into their vehicles for applications such as ambient light detection, gesture-controlled infotainment panels, and night vision. These emerging application areas position optoelectronics to capture a larger market share in rapidly evolving industries.
As a result, it is anticipated that throughout the projection period, demand for the Infrared Optoelectronics Market will increase due to the Increasing automotive industry and the growing need for advanced technologies in the automobile industry. Thus, driving the Infrared Optoelectronics Market revenue.
The Infrared Optoelectronics Market segmentation, based on Range includes Near-Infrared, Mid-Infrared, and Long-Infrared. The mid-infrared segment dominated the market, accounting for XX% of market revenue. One of the key drivers for the growth of the mid-infrared segment is its suitability for chemical sensing and spectroscopy. Mid-infrared wavelengths correspond to the vibrational frequencies of many molecules, allowing for precise identification and analysis of chemical compounds. This is crucial in applications such as environmental monitoring, industrial process control, and healthcare diagnostics.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Infrared Optoelectronics Market segmentation, based on End-user includes Aerospace and Defense, Automotive, Information Technology, consumer electronics, Healthcare, Residential and Commercial, Industrial, and Others. The consumer electronics segment dominated the market, accounting for XX% of market revenue (XX Billion). The growth in this segment can be attributed to the escalating demand for consumer electronics, encompassing smartphones, televisions, refrigerators, and laptops. Notably, in September 2022, India's export of electronic goods recorded a substantial increase of 71.99% year-over-year, reaching USD 2,009.07 million. Key export products in this industry include mobile phones, IT hardware (laptops and tablets), consumer electronics (TV and audio devices), industrial electronics, and automotive electronics. The Ministry of Electronics & IT envisions India's electronic industry exports to achieve USD 120 billion by 2026.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Infrared Optoelectronics market in North America can be attributed to several key factors. The integration of infrared optoelectronics in the North American aerospace industry serves diverse functions, including aircraft navigation, surveillance, and pilot assistance systems. Notably, according to data sourced from the Bureau of Transportation Statistics, U.S. airlines witnessed a notable surge in passenger numbers, reaching 674 million in 2021—a remarkable 82.5% increase from the preceding year, which recorded 369 million passengers. However, despite this recovery, overall passenger traffic in 2021 remained 27.3% below the levels observed in 2019. The persistent demand for sophisticated avionics and navigation technologies underscores the pivotal role of infrared optoelectronics in driving growth within the aerospace sector.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Infrared Optoelectronics Market accounts for the second-largest market share as The European automotive industry integrates infrared optoelectronics for diverse applications, notably in advanced driver-assistance systems (ADAS) and night vision systems. This pivotal sector directly and indirectly sustains 13.8 million jobs in Europe, constituting 6.1% of total EU employment. Within this workforce, 2.6 million individuals are engaged in the direct manufacturing of motor vehicles, representing 8.5% of EU employment in the manufacturing sector. In the automotive domain, infrared sensors play a crucial role in features such as collision avoidance, lane departure warning, and pedestrian detection, contributing significantly to the incorporation of advanced safety features in vehicles. Further, the German Infrared Optoelectronics Market held the largest market share, and the UK Infrared Optoelectronics Market was the fastest-growing market in the European region
The Asia-Pacific Infrared Optoelectronics Market is expected to grow at the fastest CAGR from 2023 to 2032. The regional expansion is ascribed to the thriving consumer electronics and automotive industries, notably in China and India. According to the China Information Technology Industry, the production volume of electronics in China witnessed substantial growth, increasing from 10% in 2016 to 14.5% in 2017. This surge in the electronics industry is driven by escalating consumer demand for smart gadgets, virtual reality, and drones. Specifically, China's smartphone production experienced remarkable growth, surging from 237.2 million units in 2012 to an impressive 901.2 million units in 2017. Moreover, China retains its status as the largest global market for vehicles, leading in both annual sales and manufacturing output. The International Trade Administration projects domestic vehicle production in China to surpass 35 million units by 2025. According to data from the Ministry of Industry and Information Technology, approximately 26 million vehicles, including 21.48 million passenger cars, were sold in 2021, reflecting a noteworthy 7.1% increase from the previous year. This robust performance underscores the significance of the Chinese market in the automotive sector. Moreover, China’s Infrared Optoelectronics Market held the largest market share, and the Indian Infrared Optoelectronics Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Infrared Optoelectronics market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Infrared Optoelectronics industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Infrared Optoelectronics industry to benefit clients and increase the market sector. In recent years, the Infrared Optoelectronics industry has offered some of the most significant advantages to the fields of surveillance, night vision, and remote sensing, among others. Major players in the Infrared Optoelectronics Market, including Vishay Intertechnology, Inc., OSRAM International GmbH (ams AG), Omnivision Technologies Inc., Panasonic Corporation, Maxim Integrated, Sharp Corporation, ROHM Co., Ltd., TT Electronics PLC. are attempting to increase market demand by investing in research and development operations.
Vishay Intertechnology Inc. (Vishay) is a prominent manufacturer specializing in discrete semiconductors and passive electronic components. The company boasts a comprehensive product portfolio encompassing MOSFETs, ICs, a diverse range of diodes and rectifiers, and various types of optoelectronic products. These offerings cater to singular functions like switching, amplifying, rectifying, and transmitting electrical signals. With a broad market presence, Vishay serves diverse industries, including automotive, computer, industrial, telecommunications, avionics, military, space, consumer goods, and the medical sector. The company distributes its products through original equipment manufacturers (OEMs), electronic manufacturing services (EMS) companies, and independent distributors. Vishay operates manufacturing facilities strategically located across the Americas, Europe, Asia-Pacific, and the Middle East. The company's headquarters are situated in Malvern, Pennsylvania, in the United States.
OmniVision Technologies Inc. is a leading provider of advanced digital imaging and display solutions. The company specializes in offering a range of products, including image sensors, Application-Specific Integrated Circuits (ASIC), liquid crystal on silicon (LCOS), and camera cube chips. Their ASIC product line includes automotive companion chips, sensor bridges, and IoT processors. OmniVision's diverse product portfolio serves various applications such as automotive imaging, digital still and video cameras, entertainment, security and surveillance, medical imaging, mobile phones, notebooks, and webcams. The company markets its products under brand names like Nyxel, PureCel, Omni Pixel, and CameraCubeChip. With a presence in key markets like automotive, security and surveillance, mobile phones, medical, computing, and emerging technologies, OmniVision operates in the United States, China, Taiwan, South Korea, the UK, and India. The company's headquarters are located in Santa Clara, California, in the United States. In a recent development in 2023, OmniVision Technologies announced the development of a new automotive image sensor tailored for applications in autonomous driving and advanced driver assistance systems.
February 2021: Toshiba Electronics Europe GmbH expanded its optoelectronics portfolio with the introduction of the TLP241 Bisahigh-current Photorelay. This innovative photo relay is designed for industrial applications, including usage in programmable logic controllers (PLCs), I/O interfaces, and building automation systems such as HVAC.
March 2021: Mitsubishi Electric launched the Electric Diode InfraRed (MelDIR) sensor. This advanced sensor provides accurate differentiation between humans and other heat sources, allowing for precise identification of specific human behaviors like walking, running, or raising hands. The MelDIR sensor is positioned to enhance applications in various sectors, aligning with the evolving needs of businesses and industries.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 14.20 Billion |
| Market Size 2032 | USD 20.82 Billion |
| Compound Annual Growth Rate (CAGR) | 3.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Range, End-user, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Vishay Intertechnology, Inc., OSRAM International GmbH (ams AG), Omnivision Technologies Inc., Panasonic Corporation, Maxim Integrated, Sharp Corporation, ROHM Co., Ltd., TT Electronics PLC. Â |
| Key Market Opportunities | ·      Increasing application in the medical field |
| Key Market Dynamics | ·      Increasing automotive industry, increasing investment in medical and medical devices, and growing investment in smart cities. |
Frequently Asked Questions (FAQ) :
The Infrared Optoelectronics Market size was valued at USD 14.20 billion in 2022.
The Infrared Optoelectronics Market is projected to grow at a CAGR of 3.90% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Vishay Intertechnology, Inc., OSRAM International GmbH (ams AG), Omnivision Technologies Inc., Panasonic Corporation, Maxim Integrated, Sharp Corporation, ROHM Co., Ltd., and TT Electronics PLC.
The Mid-Infrared segment dominated the market in 2022.
Consumer electronics had the largest share in the global market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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