SOURCE: MarketResearch.com

MarketResearch.com

November 22, 2010 09:08 ET

Push for Energy Efficiency to Increase Demand for LED-Based Applications

ROCKVILLE, MD--(Marketwire - November 22, 2010) -  MarketResearch.com has announced the addition of GBI Research's new report "Optoelectronics Market to 2020 - Push for Energy Efficiency to Increase Demand for LED-based Applications" to their collection of Components market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2847731.

GBI Research's new report, "Optoelectronics Market to 2020 - Push for Energy Efficiency to Increase Demand for LED-based Applications" provides the key information and analysis on the market opportunities in the Optoelectronics industry. The report covers the latest information on the revenues of the Optoelectronic Market.

The report provides Optoelectronic product-based forecasts up to 2020. It also provides an analysis on the basis of geography up to 2020. The report covers the key market trends and growth forecasts for a wide range of Optoelectronic applications in computing, communication, life sciences, consumer electronics, and automobile sectors.

The automotive industry will be a key consumer of optoelectronic devices during the forecast period of 2009-2020 The automobile industry will increasingly depend on the optoelectronic industry for safety and convenience solutions.

This research work provides a comprehensive assessment of the technological landscape, consumer requirements and competitive structure prevailing in the Optoelectronic market.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research's team of industry experts.

The increasing demand for energy efficient systems is expected to drive the sales of Light Emitting Diodes (LED) based lighting devices. The display and lamp market is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.41% over the period 2009-2020. Lighting accounts for 20% of the world's electricity consumption and there is an increasing demand for energy efficient and environmentally friendly technologies. These requirements are largely fulfilled by optoelectronic applications such as Light Emitting Diodes (LEDs) which consume only 20% of the energy when compared to a traditional incandescent bulb and they can last up to 25,000 hours.

Increase in the use of consumer devices that require solid state lighting and image sensors is expected to boost optoelectronics sales during the forecast period 2010-2020. Optoelectronic devices are used in consumer devices such as smart phones, digital cameras, mp3s, iPods, and LCD TVs. The rapid adoption of smart phones with LED backlight is expected to boost the demand of optoelectronic products, especially LEDs and image sensors. Smart phone usage is set to increase dramatically with the sales volume forecasted to rise from 174 million in 2009 to 500 million in 2014.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2847731.

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