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.
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Market Segmentation
Our-in depth analysis of the global automotive optoelectronics market includes the following segments:
By Product:
- LED’s
- Laser Diodes
- Infrared Component
- Image Sensors
- Optocouplers
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
By Channel Type
- Original equipment manufacturer (OEMS)
- Aftermarket
By Applications:
- Position sensors
- Convenience and safety
- Backlight control
By Region
Global automotive optoelectronics market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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.
Top Featured Companies Dominating The Market
- Texas Instrument Inc.
- Company Overview
- Key Product Offerings
- Business Strategy
- SWOT Analysis
- Financials
- Avago Technologies
- Autoliv Inc.
- Vishay Intertechnology
- Osram Licht AG
- FOSP Optoelectronics Co Ltd.
- Foryard Optolectronics Co.
- Koninklijke Philips N.V.
- Texas Instrument Inc.
- Optolectronics AS
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global automotive optoelectronics market is segmented as follows:
- By Type Market Size & Y-O-Y Growth Analysis
- By Application Market Size & Y-O-Y Growth Analysis
- By Technology Market Size & Y-O-Y Growth Analysis
- By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
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
Author Credits: Saima Khursheed
- Report ID: 1034
- Published Date: Feb 07, 2023
- Report Format: PDF, PPT
