Global Automotive Optoelectronics Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Automotive Optoelectronics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” report has been recently generated by Trusted Business Insights, and offers in-depth insights, revenue details, and other vital information regarding the global Automotive Optoelectronics market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global Automotive Optoelectronics market report has been segmented on the basis of devices, application, vehicle type, channel and region.

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This report is based on synthesis, analysis, and interpretation of information gathered from various sources regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective being to provide a holistic view of the target market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as current impact, in order to make informed forecasts about the scenarios in the near and distant future.

Introduction:

Automotive optoelectronics deals with electronic devices and systems in automobiles, that are related with usage, detection and control of light. Optoelectronics is used in modern cars for superior automated services. Automated headlights provide better visibility, superior driving assistance, automatic system generated brakes for higher levels of safety, infrared systems (both active and passive), and clear night vision systems are some of the key applications of automotive optoelectronics in automobiles. The major components of automotive optoelectronics are photo detectors, solid state relays, optical interrupters, infrared emitters, LEDs, and sensors for ambient light.

Dynamics:

Developing economic conditions have led to an increasing disposable income, leading to an increasing demand for luxurious and ultra-luxurious vehicles, which in turn is expected to drive growth of the global automotive optoelectronics market, over the projected time period. Optoelectronic devices are key attractions in any luxurious cars and increases the comfort level and convenience level for the customers. Such factors are driving demand for automotive optoelectronics, leading to growth of global market. Moreover, increasing safety concerns among the consumers, is also augmenting demand for automotive optoelectronics, which in turn is expected to fuel growth of the global market.

Availability of substitutes such as halogen bulbs, xenon HID bulbs, etc. can be considered as a threat and may affect growth of the global automotive optoelectronics market over the projected time period. However, such substitutes undergo quality and performance degradation. High raw material cost of optoelectronics is a challenge and may hamper growth of the global market over the forecast period.

Increasing research and development activities in field of optoelectronics is expected to create product innovations and development in coming years, which in turn is expected to augment growth of the global automotive optoelectronics market over the forecast period. In addition, increasing growth of electric vehicle market is also expected to create ample revenue opportunities for the players in the market in the coming years.

Analysis by Region:

North America market is at present dominating in the global market, owing to the increasing production of automobiles, coupled with increasing demand for premium segment automobiles in the region. Asia Pacific market is expected to register fastest growth rate over the forecast period, owing to increasing awareness about vehicle safety and high adoption of such applications in the region.

Global Automotive Optoelectronics Market Segmentation:

Segmentation by Devices:

Image Sensor
IR Component
Laser Diode
LED
Optocoupler

Segmentation by Application:

Position Sensor
Convenience & Climate
Safety
Lighting
Backlight Control

Segmentation by Vehicle Type:

Passenger Car
LCV
Buses
Trucks

Segmentation by Channel:

OEM
Aftermarket