“High demand and increasing sales of luxury and ultra-luxury vehicles are likely to drive the automotive optoelectronics market”
The automotive optoelectronics market is estimated to be USD 3.88 billion in 2018 and is projected to grow at a CAGR of 14.13% during the forecast period, to reach a market size of USD 9.80 billion by 2025. The increasing sales of luxury and ultra-luxury vehicles would drive the growth of automotive optoelectronics market. However, the high cost of raw material is inhibiting the growth of the automotive optoelectronics market.
“The passenger car segment is estimated to be the largest segment of the automotive optoelectronics market, by value”
The passenger car segment is estimated to be the largest segment, by value, of the automotive optoelectronics market from 2018 to 2025. The increasing focus of vehicle manufacturers on R&D activities to enhance the safety and lighting application is fostering the growth of automotive optoelectronics market.
“North America is estimated to account for the largest market share and Asia Pacific is estimated to be the fastest growing region in the automotive optoelectronics market”
The North American market for EV segment is estimated to have the largest share, by value, of the automotive optoelectronics market during the forecast period. Increasing number of optoelectronics components in EVs, coupled with the high demand for safety features, is likely to drive the North American EV optoelectronics market. The manufacturers of EVs such as Tesla (US), Waymo (US), and Toyota (Japan) have introduced various EVs, thereby pushing the growth of the optoelectronics market. The Asia Pacific market is estimated to grow at the highest CAGR, by value, during the forecast period from 2018 to 2025. The increase in installation of LED for various safety applications in countries such as China, India, Thailand, and others would drive the automotive optoelectronics market in the region.
This report estimates and forecasts the global automotive optoelectronics market size, by value. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges.
BREAKDOWN OF PRIMARIES
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 45 %, Tier 2 - 35%, Tier 3 - 20%
- By Designation - C level - 35%, D level - 25%, Others - 40%
- By Region - Asia-Pacific - 40%, North America - 30%, Europe - 25%, and RoW - 5%
Major players profiled in the report are as follows:
• Texas (US)
• Hella (Germany)
• Osram (Germany)
• Broadcom (US)
• Vishay (US)
• Grupo Antolin (Spain)
• Stanley Electric (Japan)
The report segments the optoelectronics market and forecasts its size, by value, on the basis of region (North America, Asia Pacific, Europe, and RoW), devices (LED, Image Sensor, Infrared, Laser Diode, and Optocoupler), application (Position Sensor, Convenience & Climate, Safety, Lighting, Backlight Control), Vehicle (PC, LCV, Buses, & Trucks), EV type, and Channel Type (OE & Aftermarket).
Reasons To Buy the Report:
The report provides insights into the following points:
- Market Penetration: The report provides comprehensive information related to region wise and country wise split of automotive optoelectronics market and the top players engaged in the industry.
- Market Development: The report provides exhaustive information about emerging technologies, recent developments, and investments in the global automotive optoelectronics market.
- Market Diversification: The report provides comprehensive information on various technologies of automotive optoelectronics. The report analyzes the markets for various automotive optoelectronics technologies across different countries.
- Competitive Assessment: The report offers an in-depth assessment of strategies, services, and manufacturing capabilities of leading players in the automotive optoelectronics market.