Total revenues in the three optoelectronics, sensors/actuators and discretes (O-S-D) market segments climbed 11% in 2017, the strongest growth rate since 2010. This was more than 1.5 times the average annual growth rate in the past 20 years and means it has reached an eighth consecutive record-high level of $75.3 billion, according to IC Insights.

Total O-S-D sales growth is expected to ease back in 2018, adds IC Insights, but it will still rise by an above average rate of 8% in 2018 to $81.1 billion. This will be driven by high demand for O-S-D, CMOS imaging devices, light sensors and laser transmitters.

In 2017, optoelectronics sales recovered from a rare decline of 4% in 2016, rising 9% to $36.9 billion, while the sensors/actuators market segment registered its second year in a row of 16% growth, with revenues climbing to $13.8 billion. While discretes strengthened significantly, IC Insights says, increasing y 12% to $24.6 billion.

IC Insights’ forecast shows optoelectronics sales growing 8% in 2018, sensors/actuators rising 10%, and discretes growing 5% this year (see below).

Between 2017 and 2022, sales in optoelectronics are projected to increase by a compound annual growth rate (CAGR) of 7.3% to $52.4 billion. Sensors/actuators revenues are expected to expand by a CAGR of 8.9% to $21.2 billion, while the discretes segment is seen as rising by an annual rate of 3.1% to $28.7 billion in the final year of the report’s forecast.

IC Insights adds that sales of sensor and actuator products made with MEMS technology grew 18% in 2017 to a record-high $11.5 billion.