Optoelectronics market to be worth $600 billion by 2010

The global optoelectronics market to be worth $600 billion by 2010, according to a report by Global Industry Analysts.

‘Optoelectronics: A Global Strategic Business Report’, published by Global Industry Analysts, Inc, provides a comprehensive review of market trends, product profile, recent developments, mergers, acquisitions, profiles of major players and other strategic industry activities. Analysis is presented for major geographic markets such as US, Canada, Japan, Europe and Asia–Pacific.

The report predicts a steep rising demand for optical components, vast scope for expansion of production activities and lucrative corporate profit margins. Expanded functionality of fibre optics, hitherto predominantly used only for transmission, is likely to kindle the need for optical components.

Telecommunications and consumer products have been determining the technological and business success in the Japanese optoelectronics market, which has played a key role in optical communications, according to the report. With focus on large-scale, low-cost production, Japan has been able to gain leadership positions in products such as optoelectronic displays, fibre-optic gyros, and compact disc players.

The report notes that Japan is likely to maintain its leadership position in the optoelectronics market. Japan represents the world’s largest market for optoelectronics, garnering about a third of the global share.