Sales of optoelectronics products are set to grow by more than 11 per cent over the next two years, according to a market research company.
New data from RNCOS forecasts a combined annual growth rate for the optoelectronics sector of ten per cent for 2010, with a 14 per cent increase the year after and eight per cent in 2012.
It claims growth projected is a result of growing demands for electronics products in global emerging markets such as China and India.
As researchers point out, it is easy to see why optoelectronics could be in for a strong period of expansion as components are used is a wide variety of applications, such as audio communications, plasma screens and optical storage devices such as CD and DVD players.
RNCOS is an Indian-based market research firm which has reported on a variety of industries across the world since its conception in 2002.