This market research report offers market forecast, analysis, and growth projections for automotive optoelectronic components such as LEDs, and IR & sensors until 2019. The research report provides an in-depth analysis of the future prospects of optoelectronics in the automotive industry. Presenting market shares and growth of key leading regions and countries of the market. The leading market players analyzed by this research report include Avago, Osram, Philips, Sharp, and Texas Instruments.
Technavio’s market research analysts estimate the global automotive optoelectronic market to grow at a CAGR of around 17% between 2015 and 2019. Factors that can be attributed to this market’s healthy growth are increasing penetration rate of image sensor systems and high-capacity batteries in cars coupled with the exploration of energy efficient LEDs. The EMEA dominates the global optoelectronics market in terms of revenue. The EU has already passed a directive that enforces all new vehicles to be fitted with daylight running lamps. The directive has led to an increased usage of LEDs in headlights in the EU region.
The new market research report from Technavio provides a breakdown and analysis of the automotive optoelectronic segments by technology.
“In recent years, vehicles are equipped with various electronic components, primarily used for gear shifting and lower torque interruption in manual transmissions. In automatic transmissions, these components control exchange messages, sensor signals, and control signals for throttle valve operations. Moreover, various technological advancements in IR components, image sensing, and auto headlamps are underway,” says Sriram Mohan, Lead Analyst, Automotive, Technavio Research.
LEDs account for a major part of the optoelectronics market, owing to their energy-efficient technologies. LEDs offer low power consumption, long lifespan, and high shock resistance. Governments across the world are imposing regulations for adopting LEDs as these are more able in conserving energy. Of late, LEDs are now being used in mid-segment cars as well besides the luxury ones. The global automotive LEDs market is expected to at a CAGR of 18% over the next four years.
The key vendors in the global automotive optoelectronic market include Avago, Osram, Philips, Sharp, and Texas Instruments. Though the initial investment to set up an automotive optoelectronics manufacturing unit is fairly high, the growth prospects of this industry are quite attractive. Many new entrants are expected to foray into the market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Automotive Optoelectronic Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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