Optoelectronics is a branch of electronics which deals with study of electronic devices capable of emitting light or reacting to it. Infrared emitters, LEDs, solid state relays, optical interrupters and ambient light sensors are the major components of automotive optoelectronics.Demand for automotive optoelectronics is increasing day by day and is widely used in modern cars. Better visibility, advance driving assistance, safety measures, night vision and active or passive infrared systems are the major applications of automotive optoelectronics. Large use of electronic and hybrid vehicles will accelerate the market of automotive optoelectronics globally. Large production of automobiles globally, increase in demand for luxury cars and use of electronic components in them will also trigger the growth of automotive optoelectronics market globally.
Market Size and Forecast
It is expected that the market for automotive optoelectronics will grow rapidly during the forecasting period at a CAGR of around 17%. Growth of automotive optoelectronics is directly related to the growth and production of automobiles globally. Increase in disposable income of customers will trigger the growth of automobile market which will directly lead to the growth of automotive optoelectronics market globally.The global automotive optoelectronics market is studied for the Asia Pacific (China, Japan, India and rest of Asia Pacific), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World.
Asia Pacific is projected to be the largest market and is anticipated to grow with a highest CAGR during the forecast period attributed to rising demand for safer vehicles, growing automobile industry and growing population in emerging economies such as China and India. It is expected that automotive optoelectronics market in China will grow at the CAGR of around 12.10% due to rise in population and growing commercial, residential and consumer electronics sectors. Vehicle sale and production in these regions is highest as they sustain their economy during the financial crisis.Western Europe is expected to witness a rapid growth over the forthcoming period due to rise in production of passenger cars. Demand for luxury vehicles and awareness among customers regarding the safety measurements will trigger the growth of automotive optoelectronics market.Whereas, the North America will show the lucrative growth in automotive optoelectronics market as the rise in production and sale of automobiles which will bolster the growth of automotive optoelectronics market.
Our-in depth analysis of the global automotive optoelectronics market includes the following segments:
By Vehicle Type
By Channel Type
Global automotive optoelectronics market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rise in production of automobiles will lead to the expansion of automotive optoelectronics market globally. Luxury car manufacturers provide high quality safety options to the customers which will stimulate the growth of automotive optoelectronics market globally. Countries such as China, India have high economy which will bolster the growth of automotive optoelectronics market as the demand for luxury cars is increasing day by day.
Increase in production and sales of hybrid and electronic cars will trigger the growth of automotive optoelectronics. Optocouplers are widely used to isolate the high voltage systems and onboard battery within these vehicles. Optocouplers market will grow with the adoption of these vehicles. It is estimated that optocoupler market for automotive sector to nearly double by the end of the decade to USD 151 million.Cost of LED’s are raising due to high cost of raw materials such as aluminum, steel, automotive plastics, electronic components and other resin materials. These factors act as the major barriers for the growth of automotive optoelectronics market.
Scope and Context
Overview of the Parent Market
The global automotive optoelectronics market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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