PhotoMOS Optically Isolated Relay Market Size, Share, Growth, and Industry Analysis, By Type (Above 20 V and Below 80 V, Above 100 V and Below 200 V, Above 200 V and Below 350 V, Above 350 V), By Application (EV & Power Storage System, Test Measurement & Telecommunication, Medical & Military, Industrial & Security Device, Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 22 April 2024

PhotoMOS Optically Isolated Relay Market Report Overview

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The global photoMOS optically isolated relay market size was 411.4 million in 2022 and is expected to reach USD 683.22 million by 2031, at a CAGR of 5.8% during the forecast period. 

A component called a photoMOS optically isolated relay uses light to transmit electrical impulses between two isolated circuits. A type of semiconductor relay having an LED as the input and a MOSFET as the output is known as a photoMOS optically isolated relay. It helps minimize size and increase device reliability in many different fields. Globally, the test measurement and telecommunication industry consumed the most photoMOS optically isolated relay in 2017, accounting for around 39.83 percent of global consumption. The balance of 60.17 percent was used for things including industrial and security devices, medical and military equipment, and EV and power storage systems.

Equipment for the industrial, automobiles energy and infrastructure, medical care, and building industries has seen an increase popularity for low-cost, precise, small-size, bounce-less operation, and long self-life safeguards over the past ten years. The market is anticipated to be driven by an increase in demand to modernize electrical systems in developed nations in order to reduce the production of heat through thermally dissipation with solid-state relays.

COVID-19 Impact: Interruption in Enterprises to Deplete Market Growth done()

The COVID-19 pandemic has been unprecedented and staggering, backup-as-a-service (BaaS) experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 outbreak messed up the global supply chain for many different businesses. Due to interruptions in enterprises and the global economy, the COVID-19 outbreak has limited the availability and adoption of electrical devices including the semiconductor.  Due to the outbreak, there has been a considerable decline in the manufacturing sector as a result of the industry encountering hitherto unheard-of difficulties with its supply chain and the acquisition of raw materials. Governments only judged a select few businesses crucial, including the food and beverage and pharmaceutical sectors. The COVID-19 outbreak has also highlighted the areas over reliance on key raw materials, such as Chinese imports and the U.S. that has had an important effect on the market's expansion.

LATEST TRENDS

"Industrial Automation to Stimulate Market Development  "

By 2032, the market within DC photoMOS optically isolated relay category will be projected to exceed USD 550 million, based on output voltage. Demand for efficient and trustworthy power control systems is rising across several industries, particularly aerospace, automotive, and industrial automation. The lifespan of DC the semiconductor is increased compared to conventional relays by providing an effective means of controlling DC power eliminating the need for mechanical contacts. This has accelerated the market growth for, particularly in the resulting voltage sector.

PhotoMOS Optically Isolated Relay Market Segmentation

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• By Type

Based on type; the market is divided into above 20 V and below 80 V, above 100 V and below 200 V, above 200 V and below 350 V, above 350 V

Above 20 V is the leading part of the type segment.

• By Application

Based on the application; the market is divided into EV & power storage system, test measurement & telecommunication, medical & military, industrial & security device, others

EV & power storage system is the leading part of the application segment.

DRIVING FACTORS

"Increasing Demand from End-Use Industries to Aid Market Expansion "

1 The voltage range wherein the semiconductor is capable of being employed efficiently is above 20 V and below 80 V. PhotoMOS optically relay is widely used in access control systems, home automation systems, and security systems. The increasing demand from end-use industries including electronics for consumers and appliances and industrial automation, which is paving the way for sophisticated security solutions globally, is primarily responsible for the market rise.

"Modernization of Electric Vehicle to Foster Industry Progress "

The isolated relay guarantees wear-free, silent, and incredibly quick switching operations and satisfies the mechanical and electrical requirements of the automotive sector, making it appropriate for automotive applications, particularly in electric vehicles. Government rules that are more lax and the modernization of electric vehicles are boosting the photoMOS optically isolated relay market share by promoting the sale of electric vehicle sales. These relays maintain the battery's temperature and protect it from over-current damage. They are an integral part of the switch network in the battery of an electric vehicle.

RESTRAINING FACTORS

"Semiconductor Expensive Nature to Hinder Market Advancement "

However, a photoMOS optically isolated relay is substantially more expensive than an electromechanical relay, which may restrain the photoMOS optically isolated relay market growth expansion. Moreover, an expert is required to handle and maintain this semiconductor or electronic which further impedes the market growth during the anticipated timeframe.

PhotoMOS Optically Isolated Relay Market Regional Insights

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"Low Labor Cost in Asia Pacific to Support Market Advancement "

The Asia Pacific region's PhotoMOS optically isolated relay market growth encompasses nations with a well-established basis for electronics product production, such as China, Japan, South Korea, and Taiwan, among others. Due to the region's low labor costs and easy access to the raw materials needed for their manufacturing process, major companies including Panasonic Corporation, Sanyo Electric Co., Ltd., LG Chem Ltd., and Nissan Motor Corporation chose to set up production facilities there in response to the increasing need for EV batteries across a variety of applications.

Due to the rise in industrial and security application demand. The amount of hospital and other medical facilities using photoelectric detectors for various tasks like keeping track of patient health, spotting intruders, and controlling traffic is growing in the area.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Panasonic (Japan)
• OMRON (Japan)
• Toshiba (Japan)
• NEC (Japan)
• IXYS (U.S.)
• BRIGHT TOWARD (China)
• COSMO Electronics (Taiwan)
• Okita Works (Japan)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.