Automotive Optoelectronics Market – Global Forecast to 2025

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 of 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 automotive optoelectronics market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Osram (Germany), Hella (Germany), Texas (US), Broadcom (US), and Vishay (US).

Opportunities:

• Increasing R&D in the Field of Optoelectronics Technology
• Rising Demand for Electric Vehicles
• Advent of Semi-Autonomous and Autonomous Vehicles

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.

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.

The passenger car segment is estimated to hold the largest market share during the forecast period. The increasing sales of passenger cars globally are leading to the exponential growth of this market. Also, the growing trend of integrating high-end electronics for in-vehicle features is inflating the demand for automotive optoelectronics.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=144954147

Target Audience:

• Automotive optoelectronics manufacturers
• Raw material suppliers
• Component manufacturers
• Distributors and suppliers of automotive optoelectronics components/parts