The change represents a five-year compound annual growth rate (CAGR) of 29.4%.

The report provides the value of the market in five segments: optoelectronics, energy, sensors, radio frequency, and other.

The optoelectronics segment accounted for nearly $2.3 billion in 2011 and is expected to increase at a CAGR of 31.6% to reach $8.9 billion in 2016. The energy segment accounted for $525 million in 2011 and is expected to increase at a CAGR of 22.8% to reach nearly $1.5 billion in 2016.

The segment made up of sensors, worth $145 million in 2011, is projected to experience a CAGR of 40.4% to reach a value of nearly $794 million in 2016. The radio frequency segment was valued at $35.3 million in 2011 and should reach nearly $152 million in 2016, a CAGR of 33.9%. The other segment was worth $518 million in 2011 and, by 2016, should be worth nearly $1.3 billion, a CAGR of 20%.