Automotive Optoelectronics Market by Application, Devices, Vehicle, Aftermarket, and Region

The Automotive Optoelectronics Market is projected to grow at a CAGR of 14.13% during the forecast period, from an estimated market size of $3.88 billion in 2018 to $9.80 billion by 2025.

The increased demand for high-end vehicles equipped with safety features is driving the market for automotive optoelectronics. Along with this, the leading OEMs are also adopting collaboration strategies with local optoelectronics players to expand their product base and customers. These factors are driving innovations in automotive technologies and products for the optoelectronics market.

The key players in the automotive optoelectronics market are Osram (Germany), Texas (US), Vishay (US), Broadcom (US), Hella (Germany), and Magneti Marelli (Italy).

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144954147

By market channel, the OE market segment is estimated to be the largest segment of the market during the forecast period. The growth of this segment can be attributed to the offering of features such as ambient lighting, convenience & climate features, and safety features as standard fitment by the automakers. OE is expected to remain an attractive market in the near future due to the increase in demand for such features by consumers.

The LED devices segment is projected to register the fastest growth, in terms of value, in the global market during the forecast period. The growth of the LED segment can be attributed to the increasing demand for ambient lighting to enhance the comfort & convenience of the vehicle.

The Asia Pacific region is projected to be the fastest-growing market for automotive optoelectronics during the forecast period. The market growth in the region can be attributed to the rapid growth of the automotive sector in countries such as China, Japan, India, and South Korea. Moreover, the improved lifestyle of consumers and rapid urbanization have boosted the demand for passenger cars and commercial vehicles, thus, driving the growth of the automotive optoelectronics market in the region.

Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=144954147

North America accounts for the largest market share in the automotive optoelectronics market, followed by Europe and the Asia Pacific region. The demand for high-end, fast, and technologically advanced optoelectronics is high in the North American region. The US holds the maximum share of the North American market for automotive optoelectronics. Factors such as the rising demand for advanced features to improve vehicle safety performance with comfort & convenience, coupled with the increasing integration of advanced driving functions, have collectively boosted the demand for the optoelectronics market.

Target Audience:

1. Automotive optoelectronics manufacturers
2. Raw material suppliers
3. Component manufacturers
4. Distributors and suppliers of automotive optoelectronics components/parts

View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/optoelectronic-market-144954147.html

Contact:
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.