NEWS: OIDA Releases New Green Photonics Market Data
February 27, 2009
OIDA Releases New Green Photonics Market Data
Green photonics™ market to reach $261B by 2020
Washington, DC — Washington, DC-based OIDA (Optoelectronics Industry Development Association) released new global optoelectronics market data for components and the green photonics share of the market. OIDA estimates that the global optoelectronics market for 2008 was $356 billion, with the green photonics share of that market 8.1% or $28.9 billion.
While the 2009-2020 CAGR for global optoelectronics is forecast to be 3.1%, the green photonics share is forecast to be a very encouraging 19.6%. These growth rates translate into $493 billion in revenue for optoelectronic components by 2020, of which $261 billion or 53% is the green photonics market share. Near term, the overall global optoelectronics market is forecast to decline by 1.4% in 2009, while the green photonics market is expected to grow 26.5%.
OIDA's president Dr. Michael Lebby has followed this emerging market segment for several years as part of OIDA's green photonics initiative. According to Dr. Lebby, "The growth of the green photonics market is significant for the economy and shows that, even in this tough economic climate, energy conservation, greenhouse gas emissions, pollution, sustainable outcomes, and improved human health are all critical in the marketplace that is leveraged through optoelectronics." Lebby adds, "It's exciting to see such strong growth predicted in the green photonics sectors of optoelectronics over the next decade in areas such as photovoltaic solar cells, solid state lighting, and optical communications. We believe that the positive affect of the green photonics movement in coming years will help stimulate interest for companies to design and manufacture optoelectronics in the U.S." To forecast the evolving green photonics market, Dr. Phillip Wright, chief analyst for OIDA's green photonics report and Managing Director of WRT Associates, and OIDA employed five key metrics. The contribution of photonics is considered "green" if it:
- generates or conserves energy
- reduces greenhouse gas emissions
- reduces pollution
- yields an environmentally sustainable outcome, or
- improves public health
A group of outstanding invited speakers and peer-reviewed technical presentations will review critical aspects of the green photonics market at OIDA's OPTOmism: Powering the Green Revolution through Photonics conference in Santa Clara, May 18-20th, 2009 (www.optomism.com). Speakers include Nobel laureate and U.S. Energy Secretary, Dr. Steven Chu. Over the three days, OPTOmism will explore energy related optoelectronics, photonics, optics, and physics based solutions across a broad applications portfolio. Speakers will debate solar, lighting, clean coal, biomass, oil and gas, communications, displays, and sensing and spectroscopy, among many other issues.
About OIDA
OIDA is a Washington DC-based, non-profit association that promotes optoelectronics. OIDA members include the leading providers of optoelectronic components and systems enabled by optoelectronics, as well as universities and research institutions. OIDA serves as the voice of industry to government and academia, acts as liaison with other industry associations worldwide, and provides a network for the exchange of ideas and information within the optoelectronics community. Learn more about OIDA at www.oida.org.
Green Photonics™ is a trademark of Optoelectronics Industry Development Association.
About WRT Associates
WRT Associates, LLC provide technical consulting and market analysis for new and emerging technologies. WRT Associates deliver thoughtful analysis and actionable information with the goal of projecting the trajectory of technologies and markets, and enabling profitable business decisions. Learn more about WRT Associates at www.wrtassoc.com
OIDA Editorial Contact:
David Iams
Communications Director
(202) 785-4426
iams@oida.org
