Optocouplers Stimulate Appreciable Demand By The Advent Of Robotics And IoT Revolution
The global optocouplers market is driven by the growth of the automotive and industrial sector, especially in the emerging countries. Developing countries such as India and China are witnessing a huge demand for optocouplers, due to large investments in the communication sector. An overall increase in the use of automation in the manufacturing sector is driving the global optocouplers market. A rise in the demand for hybrid electric vehicles (HEVs) is also encouraging the market’s growth.
An optocoupler is an electronic component used to transfer electrical signals between two circuits by the use of light. Optocouplers isolate low voltage components from high voltage spikes in the same circuit, thus preventing high voltages from affecting the system that is receiving the signal. They are extensively used in printers and imaging devices, communication sectors, automobiles, and industrial applications.
The market restraints include high power consumption by optocouplers and the low data rates that they provide. Moreover, the intrinsic wear-out of optocouplers components will also restrict the market’s growth. However, the use of optocouplers in the military, aerospace, and defense sectors will spur growth opportunities in the market. Replacement of relays with optocouplers will also open new growth opportunities in the market. The rising purchasing power of consumers in the coming years is further expected to drive the market.
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The global optocouplers market is segmented on the basis of type, application, and geography. Geographically, the market is segmented into Asia Pacific, North America, Europe, and the Rest of the World. Europe accounted for 35.1% of the global optocouplers market in 2014, closely followed by Asia Pacific representing a share of 31.5% in the market.
On the basis of application, the market is segmented into printer and imaging device, automotive, signage, commercial, industrial and communication. Of these, the industrial segment contributed the highest in 2014, accounting for 37.95% of the global optocouplers market. On the basis of type, the optocouplers market is segmented into high speed optocouplers, 4 pin optocouplers, IGBT gate drivers, 6 pin optocouplers, and isolation amplifier. Among these, isolation amplifier optocouplers accounted for 53.1% of the global optocouplers market.
Transparency Market Research announces the release of a new research report titled “Optocouplers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021”. According to the publication, the global optocouplers market is anticipated to grow from a value of US$1.8 Bn in 2014 to US$3.2 Bn by 2021. If these values hold true, then analysts indicate that the optocouplers market will expand at a healthy CAGR of 8.20% from 2015 to 2021.
The report profiles leading vendors operating in the global optocouplers market. They are: Fairchild Semiconductor (United States), Avago Technologies (United States), Renesas Electronics (Japan), and Vishay Intertechnology (United States). The strategies adopted by the companies and the challenges faced by them are included in the report, thus benefitting enterprises to make informed business decisions.