Optocouplers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Albany, NY -- (SBWIRE) -- 12/08/2015 -- Optocouplers, also known as opto-isolators, are electronic devices utilized to protect components that require reduced voltage inputs. Optocouplers separate a section with lower voltage from a section with high voltage in the same circuit. In vehicles, the driver assistance system needs an electronic control unit (ECU) to function, which operates on a substantially lower voltage than the main battery of the car. Optocouplers help achieve this reduction in voltage and isolation of the two unbalanced electrical systems.Industrial machinery needs a high voltage in general, but a few components need low voltage to function and can be damaged by excess supply of electricity. These requirements for voltage isolation are usually achieved through an optocoupler.The global optocouplers market was estimated at US$1.87 billion in 2014 and, expanding at a CAGR of 8.2% from 2015 to 2021, is anticipated to reach US$3.22 billion by 2021.
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Isolation Amplifier Optocouplers Emerged as Dominant Product Type with 53.1% Market Share
By application, the global optocouplers market is segmented into seven application types: printer and imaging devices, automotive, communication, signage, industrial, commercial, and others. On the basis of value, the industrial sector was the largest contributor, representing 37.95% of the overall market in 2014.By product type, the global optocouplers market can be segmented into six types: 6 pin optocouplers, 4 pin optocouplers, IGBT gate drivers, high speed optocouplers, isolation amplifiers, and others. Isolation amplifier optocouplers occupied the largest share of the overall market – 53.1%. Increasing ecological concerns for making electrical components that are lead-free has created an opportunity for the manufacturers of optocouplers to manufacture optocouplers in accord to the environmental standards.
Global Optocouplers Market Driven by Growing Automotive Industry
Global optocouplers market is mainly driven by factors such as the burgeoning of the automotive and industrial sectors in developing countries. The automotive and industrial automation communication sectors in emerging countries such as India, China, and others are on the rise due to growing urbanization and increase in disposable income. The market for optocouplers in these regions is majorly driven by large investment for accelerated communication systems and rising demand for premium automobiles. The rise in automation in the manufacturing sector is fuelling the growth of the market, as optocouplers are a vital part of the automation process. Additionally, elevating demand for hybrid vehicles (HEVs) worldwide is also helping the market for optocouplers.
In terms of geography, the global optocouplers market has been segmented into four major regions: North America, Europe, Asia Pacific, and Rest of World (Latin America, the Middle East, and Africa). On the basis of revenue, Europe acquired the biggest share of the market in 2014, trailed by Asia Pacific. The most influential factors driving demand for optocouplers in the European market are rising demand for automation in the manufacturing sector and increasing demand for HEVs. Expansion of the optocouplers market in Asia Pacific can be credited to the rising demand from the automotive sector as well as industrial applications.
The key manufacturers across the four regional segments of the optocouplers market are Fairchild Semiconductor, Avago Technologies, Renesas Electronics, and Vishay Intertechnology.
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