Wilmington, Delaware, United States, June 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global phototransistor market stood at US$ 1.4 billion in 2022 and the global market is projected to reach US$ 2.4 billion in 2031. The global phototransistor industry is anticipated to expand at a CAGR of 5.9% between 2023 and 2031.
The expectation for driving the global phototransistor market size during the forecast period rises. The rise in the adoption of electric vehicles with an increase in investment in renewable energy plants in developed and developing nations are some of the key factors fuelling phototransistor market development.
Boost in the automobile industry is creating important opportunities for phototransistor manufacturers operating in the global market. Rise in the production of automotive devices and the growth in popularity of electric vehicles (EVs) as well as hybrid electric vehicles (PHEVs), is uplifting the demand for phototransistors.
The automotive industry is being raised due to investment in Research and Development of automotive technologies and rise in competition among players to expand the usage of phototransistors in automotive applications.
Consumers are mainly preferring environment-friendly transportation options including electric vehicles (EVs). Several governments are also taking initiatives to promote energy-efficient electric vehicles. Phototransistors are used in anti-lock braking systems as well as in headlights.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.4 Bn | |
| Estimated Value | US$ 2.4 Bn | |
| Growth Rate - CAGR | 5.9% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 170 Pages | |
| Market Segmentation | Material, Package Type, End-use industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ams-OSRAM International GmbH, Kingbright Company, LLC, LITE-ON Technology, Inc., ROHM CO., LTD, Vishay Intertechnology, Inc., EVERLIGHT ELECTRONICS CO., LTD, Excelitas Technologies Corp., Honeywell International Inc, Toshiba Corporation, TT Electronics | |
Key Takeaways of Market Report
- Global phototransistor market to generate absolute dollar opportunity worth US$ 2.4 billion until 2031.
- Global phototransistor market from 2023 to 2031 is 5.9%
- Global phototransistor market is currently valued at US$ 1.4 billion in 2022.
- Global phototransistor market stood at US$ 1.52 billion in 2023.
- Market value of the global phototransistor market management from 2018 to 2022 is 5.1%
- North America is said to have a market share of 29.2%
- Asia Pacific market region is estimated to have a market share of 41.1%
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Global Phototransistor Market: Growth Drivers
- Development of Perovskite Solar Cell (PSC) technology has raised the creation of affordable, versatile, and highly effective photovoltaic systems of the new generation. Thin-film solar cells that utilize organic materials, quantum dots, hybrid materials, and perovskite materials have all witnessed notable enhancements in power conversion efficiencies.
- Surface mount packaged type segment holds a major share of 66.2% in 2022, and it is anticipated to grow at a prominent CAGR during the forecast period which is thereby expected to be due to the rise in adoption of surface mount technology for miniaturizing electronic devices.
- Technology aids in the assembly of several electronic components on printed circuit boards (PCBs) where it is mostly used for manufacturing compact and smaller phototransistors that can be integrated into electronic devices.
Global Phototransistor Market: Regional Landscape
- Latest phototransistor market forecast analysis, in Asia Pacific is anticipated for dominating the global market in the next few years. Phototransistor market growth in Asia Pacific is attributed to the important presence of electronic device manufacturers in countries, like China, Japan, Taiwan, and South Korea. Growth in the automotive and renewable energy sectors is contributing to the phototransistor industry growth in Asia Pacific.
- Key players in the region are mainly investing in research and development activities in the field of electronics and semiconductors which is positively impacting the phototransistor market value in Asia Pacific.
- North America is also a major market for phototransistors, and the region holds 29.2% of the global market share. Phototransistor market size in North America is anticipated to increase during the forecast period, owing to the presence of several prominent manufacturing corporations in the region that offer optoelectronics components for various industries.
Global Phototransistor Market: Key Players
- Toshiba Corporation launched its first 200v transistor output automotive phototransistor photocoupler, TLX9188. This product is extensively utilized in automotive equipment for isolated signal communication. This phototransistor is used in battery management systems in electric mobility vehicles.
- Vishay intertechnology, Inc. introduced VOMA618A, a new Automotive Grade phototransistor Optocoupler. It offers a high CTR (Current Transfer Ratio) range between 50% and 600%, with 1 mA low forward current in the compressed package. It has been developed to save energy in automotive and high-reliability industrial applications.
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Global Phototransistor Market: Market Segmentation
- Material
- Gallium Arsenide (GaAs)
- Indium Phosphide (InP)
- Gallium Nitride (GaN)
- Gallium Antimonide (GaSb)
- Silicon Carbide (SiC)
- Package Type
- Surface Mount
- Through Hole
- End-use industry
- Automotive
- Aerospace & Defense
- Consumer Electronics
- IT & Telecommunication
- Healthcare
- Energy & Power
- Others (Research & Academia, Industrial, etc.)
- Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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