Sep 12, 2022, 10:11 EST
Shibuya-ku, Tokyo, Japan, Japan, Sep 12, 2022, 10:11 /Comserve / -- Optocouplers Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Optocouplers Market was valued at USD 2.64 billion in 2022 and is expected to reach USD 4.38 billion by 2031, at a CAGR of 8.8% over the forecast period. The growing industrial automation and increasing adoption of signal isolation solutions across many end-user industries are major factors driving the growth of the market studied over the forecast period. Rapid advancements in optical wireless systems, the increasing demand for electric and hybrid vehicles, and the emergence of the digital optocoupler are likely to create more opportunities for optocoupler manufacturers.
- Some of the commonly witnessed market applications of optocouplers include microprocessor input/output switching, PC communications, DC and AC power control, signal isolation, and power supply regulation. The growth of the optoelectronics market and the increasing adoption of optical technology across various end-user industries are significant factors attracting more investment in the optocoupler market. According to the data from WSTS, across the overall semiconductor market, the optoelectronic segment is expected to register the highest CAGR.
- Industrial automation equipment (such as robot controllers, AC servos, and general-purpose inverters) and green energy system (like solar inverters and battery systems) manufacturers are under intense pressure for size reduction to gain a cost advantage. At the same time, new safety standards require longer creepage and clearance distances in the electrical isolation component. These factors are also bringing advancements into the market studied.
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Key Market Trends
Industrial Sector to Occupy Significant Share in the Market
- Industrial networking requires a more robust and reliable standard compared to the office LAN. In industrial ethernet networks that use twisted-pair cables, isolation is needed between end- devices and the network to protect devices from voltage surges and ground loop currents. Thus, high-speed optocouplers can be used as an alternative to isolating transformers.
- A highly competitive market demands motor control solutions that offer higher performance, greater functionality and efficiency, and reduced cost. In a motor drive system where high voltages, magnetic fields, and noise are common, reliability is critical to avoid the downtime. Optocouplers are frequently used to insulate high voltages and isolate unwanted signals.
- The most common safety standard used for test and measurement is the EN61010 or IEC-1010, which regulates safety requirements for electrical equipment for measurement, control, and laboratory usage. The optocouplers offered by the vendors are fulfilling this requirement.
- As the demand for the use in power-generation applications increases, high-frequency noises from switching devices and the power surges from instantaneous glitches in the systems will adversely affect the power supply quality. Optocouplers offer an effective means of protection by providing isolation from unwanted signals and insulation from high-voltage glitches in the power converters.
- The market is witnessing product roll-out by various vendors, which is boosting the growth of the market. For instance, in July 2019, Renesas introduced a family of 15Mbit/s optocouplers for harsh industrial applications. According to the company, applications are foreseen in DC to AC power inverters, AC servo motors, programmable logic controllers (PLCs), robotic arms, solar input power conditioners, wind input power conditioners, and battery management systems.
Asia Pacific to Witness Significant Growth
- Significant investments in the semiconductor industry, coupled with the increasing demand for efficient optoelectronic components in the industrial sector is bolstering the growth of optocouplers in the region. China is one of the major influencing factors in the region, owing to its strong foothold in the global semiconductor market. The region is also one of the major contributors to the global automotive sector and the smart energy-efficient products market.
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- Government initiatives promoting the local semiconductor market growth are expected to bring new players into the market. For instance, the Chinese government raised around USD 23 to 30 billion to pay for the second phase of its National IC Investment Fund. The National IC Investment Fund, or Big Fund, was introduced in 2014, to support its semiconductor sector.
- The semiconductor industry also gave a large economic boost to Southeast Asia’s growth, especially in Singapore, where semiconductor output is growing, according to the data from the Economic Development Board.
- These advancements are also motivating the regional end-user industries to adopt advanced technologies, hence, fueling the market growth. For instance, the Singapore government plans to make all 110,000 lampposts in the country into an interconnected network of wireless sensors. Moreover, the Indian government is focusing on creating a charging infrastructure and policy framework.
- Taiwan discrete components maker, Panjit International, is stepping up the development of high-power IGBT devices for automotive and mass transportation uses. Moreover, Taiwan Semiconductor (TSMC) announced in May 2020 that it intends to build an advanced semiconductor fab in Arizona, with the mutual understanding and commitment of support from the US government.
The optocouplers market is highly competitive, owing to 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 adopt strategies like product innovation and mergers and acquisitions to expand their reach and stay ahead of the competition. Some of the recent developments in the market are:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
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