The global Optocoupler IC Market Share is deemed to reach USD 2.55 billion by 2023, as per predictions by MRFR. It can display a CAGR of 6.5% over the forecast period.
The market is driven by smart home devices and need for energy-efficient optocoupler ICs. Stringent regulations pertaining to energy efficiency, size, and performance can bode well for the market. Advances in wireless systems and development of hybrid vehicles can provide a plethora of opportunities for the market. Common applications are DC and AC power control, PC communications, and power supply regulation. Safety standards outlined by regulatory agencies for test and measurement equipment can drive the demand for optocoupler ICs. Rise in applications of power generation will create a market for the product for preventing voltage surges.
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The COVID-19 pandemic has had a resounding impact on the Optocoupler IC Market Growth owing to shutdown of facilities and deficit in supply chains caused by hurdles of major logistic chains. But the demand for consumer electronic devices and ease of trading norms by major nations can catapult the market to great heights. Increasing use of industrial robots to facilitate automation can favor the market.
By type, the market has been segmented into MOSFET output optocouplers, high linearity optocouplers, logic output optocouplers, high-speed optocouplers, transistor output optocouplers, TRIAC SCR output optocouplers, and others. The high-speed optocouplers are expected to register the highest CAGR during the forecast period. High standards of industrial networking and isolation required between components during voltage surges can drive the segment demand in the optocouplers market.
By pin, the market has been segmented into 4-pin, 5-pin, 6-pin, and 7-pin. The 7-pin optocouplers are expected to register the highest CAGR during the forecast period.
By vertical, the market has been segmented into automotive, solar, aerospace defense, and consumer electronics. The automotive segment is expected to register the highest growth rate during the forecast period owing to its need for communication modules. High performance, reduced cost, and huge functionality benefits can drive the demand for optocoupler ICs in the market.
Renesas Electronics Corporation, Lite-On Technology Inc, IXYS Corporation, Taiwan Semiconductor Mfg. Co. Ltd., TT Electronics, Semiconductor Components Industries LLC, Sharp Corporation, Standex Electronics, Inc., Phoenix Contact, Infineon Technologies AG, Toshiba Corporation, Panasonic Corporation, Vishay Intertechnology, Inc, Everlight Electronics Co., Ltd., and Broadcom Inc are key players in the global optocoupler IC market.
North America is expected to lead the global market owing to demand for high-end consumer electronic devices and adoption of signal isolators in automotive and industrial sectors. Presence of various manufacturers and investments by reputed brands in developing economies to lower production costs can augur favorably for the market. Recently, STMicroelectronics has launched the STIS0621 dual-channel digital isolator for industrial applications.
Rohm has launched surface-mounted ac-dc converter ICs with optocoupler feedback to provide space between two ground references.
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