Optoelectronics Market to Hit 14.13% CAGR and Projected to Reach US$ 9.80 Billion by 2025, Driven by R&D Activities

North American region is projected to be largest market for automotive optoelectronics by 2025. Increasing production of automobiles and a significant rise in demand for premium segment passenger cars are driving market growth in this region.

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).

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Automotive optoelectronics market is estimated to be USD 3.88 billion in 2018 and is projected to grow at a CAGR of 14.13% during forecast period, to reach a market size of USD 9.80 billion by 2025.The increasing sales of luxury & ultra-luxury vehicles would drive growth of automotive optoelectronics market. However, high cost of raw material is inhibiting growth of automotive optoelectronics market.

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

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North American region is projected to be largest market for automotive optoelectronics by 2025. Increasing production of automobiles & a significant rise in demand for premium segment passenger cars are driving market growth in this region. Asia Pacific region is anticipated to register fastest growth in automotive optoelectronics by 2025.

Competitive Landscape
1 Overview
2 Market Ranking
3 Competitive Senario
4 New Product Developments
5 Expansions
6 Collaborations/Joint Ventures/Supply Contracts/ Partnerships/Agreements
7 Mergers & Acquisitions

Click Here for More Information on “Optoelectronics Market for Automotive by Devices (LED, Image Sensor, Infrared, Laser Diode, Optocoupler), Application (Position Sensor, Convenience & Climate, Safety, Lighting), Vehicle (PC, CV), EV Type, Aftermarket, and Region - Global Forecast to 2025” research at https://www.reportsnreports.com/contacts/discount.aspx?name=1606559 .

The report segments the optoelectronics market and forecasts its size, by value, on the basis of region (North America, Asia Pacific, Europe, and RoW), devices (LED, Image Sensor, Infrared, Laser Diode, and Optocoupler), application (Position Sensor, Convenience & Climate, Safety, Lighting, Backlight Control), Vehicle (PC, LCV, Buses,& Trucks), EV type, and Channel Type (OE & Aftermarket).

The key factor restraining the growth of the automotive optoelectronics market is the easy availability of affordable substitutes for the optoelectronics technology for automotive applications.

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Release ID: 396273