Global Opto Electronics Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026 at a CAGR of XX% during the forecast period.
Increasing use of infrared components in consumer electronics, automotive and several others are expected to drive growth for the global optoelectronics market. The rapid urbanization occurring across the globe, with a focus in emerging economies, have resulted in rise of disposable income which has in turn increased the demand for a wide variety of consumer electronics. Moreover rapid advancements in display technology offer the market ample opportunities for growth. However, the global optoelectronics market is hindered by the comparative expense of adopting optoelectronics over conventional versions of the same.
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