Optoelectronics generated $565 bln in 2006

In 2006, the optoelectronics market achieved new highs with optoelectronics-enabled and components market reaching $565 bln in total revenue, a 14.5% increase from $494 bln in 2005. OIDA forecasts strong and steady growth over the next decade for the optoelectronics-enabled and components markets, with revenue expected to surpass $1.2 trillion by 2017. This is a 2007-2017 compound annual growth rate (CAGR) of 7.7%. The biggest driver for the growth of this market is LCD displays, which will enable a variety of consumer-based products, from TVs to mobile phones to digital assistants. Within optoelectronics-enabled products, the growth drivers over the next decade will be solar, computing/processing, and consumer displays/TVs, projected to achieve a 2007-2017 CAGR of 17.3%, 5.6%, and 6.3%, respectively. The forecast for their combined total revenue in 2017 exceeds $425 bln. In 2006, these three markets achieved revenue of $198 bln. The yearly growth for optoelectronics-enabled products and systems in 2006 ranged from 8% to 43%. Growth was led by environment/sensing (43.1%) and medical care/welfare (28.6%). The two biggest revenue segments, consumer display/TV and computing/ processing, demonstrated solid growth of 20.4% and 8.1%, respectively, from 2005 to 2006.