Market Scope
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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Regional Analysis
North America is expected to lead the global Optocoupler IC Industry 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.
Competitive Analysis
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.
Industry News
Rohm has launched surface-mounted ac-dc converter ICs with optocoupler feedback to provide space between two ground references.
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