Optoelectronics is a newer, emerging technology, currently dominating the global semiconductor industry as the fastest-growing segment. Used in the electronic device industry, the purpose is to detect and control light, ultimately converting electrical energy into optical energy (or vice versa).

The rise in demand is due directly to the vast amount of use of this technology for applications such as smoke detectors, CD players, night vision equipment, and energy-efficient innovations such as LEDs and image sensors. Optoelectronic components are also used for data transmission.