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Optoelectronics Market Worth $77.9 Billion by 2027, Growing at a CAGR of 9.6% From 2020 - Exclusive Report by Meticulous Research®

According to a new market research report “Optoelectronics Market by Device (LEDs, Sensors), Device Material (Gallium Nitride, Indium Phosphide), Application

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E-commerce Market to be Worth $16,215.6 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research

E-commerce Market to be Worth $16,215.6 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research
"E-commerce Market
by Business Model, Browsing Medium, Payment Mode (Card Payment, Bank Transfer, Digital Wallet), Offering (Travel, Electronics, Beauty & Fashion, Household, Pharmaceuticals, Food & Beverages), and Region - Global Forecast to 2027", the e-commerce market is expected to grow at a CAGR of 22.9% from 2020 to reach $16,215.6 billion by 2027.
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E-commerce refers to the buying or selling of goods and services through electronic mediums, mostly through the Internet. This market is majorly driven by rising penetration of the Internet and smartphones, growing dependency on social media to promote e-commerce platforms, growing omni-channel business models, and the advent of new payment modes. In addition, e-commerce automation offers immense growth opportunities for players operating in the e-commerce market. However, online frauds and cybersecurity issues are some factors restraining the market growth. Moreover, local laws and regulations for international e-commerce and trust deficit due to touch and feel experience are the major challenging factors for the overall market growth.

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Optoelectronics Market to Reach $77.9 Billion by 2027 --Exclusive Report Covering Pre and Post COVID-19 Market Analysis by Meticulous Research®

by Device (LED, Sensors), Device Material (Gallium Nitride, Indium Phosphide), Application (Measurement, Communication, Lighting), End User (Consumer Electronics, Healthcare), and Geography—Global Forecast to 2027", published by Meticulous Research®
, the optoelectronics market is expected to grow at a CAGR of 9.6% from 2020 to 2027 to reach $77.9 billion by 2027.
Optoelectronics technology has found applications across various industry verticals due to the high performance, high bandwidth, and low energy consumption of optoelectronic devices. The technology has witnessed high demand in applications such as telecommunications, monitoring and sensing, long-wavelength LiDAR, microwave photonic links, and medical equipment. LEDs, optocouplers, image sensors, laser diodes, and optical fiber are widely used optoelectronics devices. The optoelectronics market is driven by factors such as the rising demand for optical solutions in the healthcare and automotive industries, growing adoption of smart consumer electronics devices, and increasing need for durable, low power consuming components. However, high initial costs associated with manufacturing and fabrication are expected to hamper the market growth. The market is expected to witness immense growth opportunities from the proliferation of IIoT applications, advancements in Li-Fi technology, and innovations in optoelectronic devices.

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