A high voltage electrical current passing through a low-power system or component can irreversibly damage the latter. This issue, which is fairly common in complex electrical systems, is addressed with the use of a semiconductor device known as an optocoupler or opto-isolator. As the name suggests, an optocoupler makes use of an optical transmission path to pass small amounts of electricity from a high-power system to a low-power power system while keeping both electrically isolated. The significance of these components is testified by the fact that optocouplers comprised a US$1.87 billion market in 2014.
It is expected, according to the projections of Transparency Market Research, that the global optocouplers market will reach a valuation of US$ 3.22 billion by 2021. This translates to a compounded annual growth rate (CAGR) of about 8.2% for the optocouplers market between the six-year period from 2015 to 2021.
Browse Market Research Report of Optocouplers Market:
With their growing use in a wide spectrum of industries, here are the top 10 insights about the global market for optocouplers:
1. The growth of the global optocouplers market is hinged on the advancements made in the automotive, communications, and industrial technologies. The increasing emphasis on fail-safe, round-the-clock solutions, especially in telecommunications will create the need for optocouplers that boast a longer life than before.
2. In the industrial, automobile, and communication sectors, the demand for optocouplers for high-temperature-resistant and high-speed optocouplers is seen to be high. The advent of the robotics and IoT revolution will stimulate appreciable demand for optocouplers from these sectors.
3. The communication sector, on the other hand, relies on engineered isolation amplifier optocouplers that boast qualities such as high speed and extremely low-current-passing capabilities. With the penetration of internet and mobile phones, the demand for miniature optocouplers will grow.
4. The development of new isolation techniques has enabled companies to launch hermetic optocouplers as well as those that can operate effectively in high-temperature conditions. The use of lead-free optocouplers is rising in sectors such as aerospace, military and navy.
5. In 2014, the industrial sector contributed the highest (in value terms) to the global optocouplers market. Based on applications (automotive, communication, industrial etc.), the industrial segment contributed a significant 37.95% to the optocouplers market share in 2014.
6. Of all the various product variants available in the global optocouplers market, isolation amplifier optocouplers are the most dominant, accounting for a market share in excess of 53% in 2014. The other common varieties of optocouplers are: 4-pin, 6-pin, high-speed, and IGBT gate driver optocouplers.
7. According to market analysts, one of the key drivers in the global optocouplers market that will influence demand is the robust automotive industry in China and India. This aspect will play a crucial role in tilting the demand toward emerging economies.
8. From the regional standpoint, the optocouplers market in Europe stood as the largest in 2014, constituting over 35% of the global optocouplers market. The large automotive industry in Europe can be credited for Europe’s sizeable stake in the optocouplers market.
9. Europe and Asia account for over 66% of the global optocouplers market between them. The Asia Pacific region is in the midst of sweeping changes in various industries right from telecommunications to industrial to automotive. This will cause an upswing in the demand for optocouplers.
10. Yet, wear-related performance dips – an intrinsic attribute of optocouplers – are a major drawback for the growth of the optocouplers market. Companies are recommended to develop products that overcome these drawbacks.
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However, with the overall development of isolation technologies, the optocouplers market is poised for impressive growth.