Opto-Isolator Market Set for Growth, Projected to Reach $1.79 Billion by 2028
Opto-Isolator Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The global opto-isolator market is poised for significant growth, expected to expand from $1.12 billion in 2023 to $1.24 billion in 2024, representing a compound annual growth rate (CAGR) of 10.9%. This growth can be attributed to advancements in telecommunications, industrial automation, medical equipment safety, and the expanding use of power electronics and electronic instrumentation.
Rising Trends Driving Market Growth
In the forecast period, the opto-isolator market is projected to grow to $1.79 billion by 2028, at a CAGR of 9.7%. Key drivers include increased focus on cybersecurity and data protection, the proliferation of smart grid and energy management systems, adoption of renewable energy, expansion of 5G network infrastructure, and the rise of IoT and smart devices. Emerging trends include the integration of opto-isolators in quantum computing, development of low-power consumption devices, application-specific opto-isolators, miniaturization, integration, and enhanced data rate transmission capabilities.
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LED Lighting Boosts Market Demand
The rapid growth of LED lighting is set to bolster the opto-isolator market. LEDs, integral to opto-isolators, convert electrical signals into light, driving demand. According to the International Energy Agency (IEA), residential LED lighting sales captured a 50.5% market share in 2022, up from 46.3% in 2021, with lighting efficacy increasing from 107 lumens/watt in 2020 to 111 lumens/watt in 2021. This surge in LED adoption underscores its pivotal role in driving the opto-isolator market forward.
Market Segmentation
The opto-isolator market is segmented based on product type, technology, application, and sales channel:
• Product Type: Non-Linear Opto-Isolator, Linear Opto-Isolator
• Technology: High-Speed, High-Voltage, Integrated
• Application: Telecommunications, Cable TV, Military and Aerospace, Industrial Motors, Other Applications
• Sales Channel: Direct Sales, Distributors
Regional Insights: Asia-Pacific Leads the Market
Asia-Pacific dominated the opto-isolator market in 2023 and is anticipated to maintain its lead through the forecast period. The region's prominence is driven by extensive industrialization, technological advancements, and robust demand across various end-user industries.
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Opto-Isolator Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Opto-Isolator Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on opto-isolator market size, opto-isolator market drivers and trends, opto-isolator market major players, competitors' revenues, market positioning, and market growth across geographies. The opto-isolator market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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