MarketsandMarkets’ research report, “Optoelectronics Market for Automotive by Devices, Application, Vehicle, EV Type, Aftermarket, and Region - Global Forecast to 2025”, estimates the optoelectronics market at $3.88 billion in 2018 and is projected to reach $9.80 billion by 2025, growing at a CAGR of 14.13%. Factors driving growth are the increase in sales of luxury and ultra-luxury vehicles and high demand for LED lighting and safety applications.
Report Takeaways
- The safety segment is estimated to witness the highest growth because of the rising demand for safety features by consumers to enhance the vehicle safety performance.
- The LED segment is estimated to be the fastest growing segment, by value, of the Automotive Optoelectronics Market during the forecast period. The high demand for aesthetic lighting to improve the comfort and safety inside the vehicle for the occupants is governing the growth of LED segment devices.
- Asia Pacific is estimated to be the fastest growing regional market for Automotive 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).
For greater illumination, browse the "Optoelectronics Market for Automotive" report.
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