Advancements in industrial, communication, and automation sectors have enabled the growth of the optocouplers market. Optocouplers play an important role in isolating low voltage components from high voltage spikes in the same circuit. A rise in novel isolation technologies is proving to be a growth generator for the optocouplers market. Therefore, this can prove to be beneficial for increasing the growth rate of the optocouplers market during the forecast period of 2015-2021.
- The communication sector is in the process of rapid development. Large scale developments in the communication sector have led to a rise in investments. Hence, this eventually leaves a positive impact on the growth rate of the optocouplers market. Therefore, like the communication sector advances, the optocouplers market gains momentum.
- Technological advancements in the automotive sector are also helping the optocouplers market to move towards growth. Increasing demand for isolation of components and rising implementation of advanced driver assistance systems are also prime factors for the growth generation of the optocouplers market. An advanced driver assistance system needs an electronic control unit (ECU) for operation on a low voltage. This is easily achieved through optocouplers. Hence, the automotive sector will greatly support the increase in the growth rate of the optocouplers market.
- Due to the COVID-19 pandemic, the use of industrial robots is bound to increase to enable less human contact. Optocouplers are also used in industrial robots on a large scale. Hence, the increase in demand for industrial robots will eventually increase the growth rate of the optocouplers market. Manufacturers in the optocouplers market are focusing on research and development activities for enhanced performance improvements. For instance, Vishal Intertechnology Inc. launched two optocoupler with a phototriac output in the compact flat SOP-4 package. These optocouplers are loaded with properties such as noise isolation and high robustness. They can be used in industrial equipment and home appliances.
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The global optocouplers market has been covered under the scope of this report. The advancement in the automobiles and industrial applications has propelled the growth of companies which produce optocouplers. Optocouplers are capable of isolating different voltage levels thus safeguarding components from voltage spikes in the same circuit. These components are highly used in automobiles, industrial applications, communication sector and printer & imaging devices among others. The primary purpose of the optocouplers is to isolate or step down from high voltage current to low voltage current. New technologies for isolation are giving rise to high speed, high operating temperature and low input current optocouplers.
Global optocouplers market is primarily driven by factors such as growth of industrial and automotive sector in emerging markets. Industrial automation communication and automotive sectors are witnessing high demand for optocouplers in developing countries such as China, India, and others. The market in these regions are mainly driven by huge investment for faster communication systems and demand for high end automotives The increase in automation in the manufacturing sector is driving the growth of the market as the optocouplers forms an integral part of the automation process. Optocouplers are required to isolate electrical current in various components and transfer data while isolating noise. Moreover, increasing demand for hybrid vehicles (HEVs) globally is driving the market for optocouplers. Considering all these positive impacts, demand for optocouplers is set to rise during the forecast period, i.e., 2015 to 2024.
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Based on types of optocouplers, the global market can be segmented into 4 pin optocouplers, 6 pin optocouplers, high speed optocouplers, IGBT gate drivers, isolation amplifiers, and others. Isolation amplifiers garnered the maximum revenue in 2014. Isolation amplifiers Isolation amplifiers are designed for sensing current and voltage in electronic power converters. Electronic power converters are used in renewable energy systems and motor drives, where current flows from an external resistor and the resulting analog drop is sensed by an isolation amplifier. Renewable energy sources such as solar inverters and wind turbine inverters are gaining significance due to the depletion of non-renewable energy sources. These factors have boosted the growth and demand for renewable energy across the globe. The global optocoupler market has also benefited from this growth. Thus, the global market share of isolation amplifier is estimated to increase marginally by 2024. Hence, growing demand for isolation amplifier is boosting the growth of this market globally.
Optocouplers market, by applications is segmented as consumer electronics, printer and imaginf device, automotive, communication, commercial, industrial and others. Industrial sector was the largest contributor to the market in 2014 and accounted for a substantial share of the overall market. The increasing use of assembly line concept in manufacturing industrias is the major driving factor this segment. Further, growing demand for communication network, automotive usage and printer and imaging devices among others in fuelling the market growth of this application area.
Optocouplers market has been classified geographically into North America, Europe, Asia Pacific and Rest of the World. North America acquired the largest share of the market in 2014 and was followed by Europe. In terms of revenue, Europe acquired the largest share of the market in 2014 followed by Asia Pacific. Rise in the demand of optocouplers is witnessed in the industrial and the automotive sectors. The primary factors which are driving European market include increasing demand for automation in manufacturing companies, rising demand for HEVs and communication sector. Growth of optocouplers market in Asia-Pacific region can be attributed to the high demand in industrial application and automotive sector.
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The global optocouplers market, by product types is bifurcated into six segments such as 4 pin optocouplers, 6 pin optocouplers, high speed optocouplers, IGBT gate drivers, isolation amplifiers and others.
Some of the leading players in the market are Avago Technologies (United States), Fairchild Semiconductor (United States), Vishay Intertechnology (United States), and Renesas Electronics (Japan) among others.
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