Automotive Optoelectronics Market (By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV); By Product Type: LED’s, Infrared Component, Image Sensors, Laser Diodes, Optocouplers; By Channel Type: OEMs, Aftermarket; By Application: Position Sensors, Backlight Control, Convenience and Safety) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global automotive optoelectronics market is anticipated to grow at a CAGR of around 10.9% during the forecast period 2020 to 2027 and to reach around US$ 8.3 Bn by 2027.

Market Dynamics

High passenger vehicle sale in emerging economies, along with introduction of technologically advanced products are major factors expected to drive the growth of global market. In addition, increasing demand for luxury vehicles from consumers, along with wide applicability of optoelectronics for automated headlights for better visibility, automatic brakes for higher safety, advanced driving assistance systems, and night vision systems is another factor expected to further augment the growth of target market.

Major players are focused on business expansion through strategic merger and acquisition in order to increase the business presence and enhance the profit ratio this is another factor expected to further boost the growth of target market.

• In 2019, Sanan Optoelectronics acquired WIPAC Limited an automotive lighting supplier. This acquisition is expected to help the company to enhance the customer base and increase the business presence.
• In 2017, OSRAM acquired Vixar a manufacturer of high performance, cost-effective vertical cavity surface emitting laser (VCSEL) products. This acquisition is expected to help the company to enhance the product portfolio and increase the customers.
• In 2018, HELLA partnered with Beijing HAINACHUAN Automotive Parts. This joint venture is expected to help the company to enhance the business presence and increase the profit ratio.

In addition, increasing spending on product development along with introduction of smart solutions is another factor expected to support the growth of target market.

• In 2018, Audi and HELLA in collaboration developed a striking lighting technology for new Audi A7 Sportback. The headlamps of the four-door coupé are available as LED, Matrix LED, and HD Matrix LED with laser high beam variants. This is expected to help the companies to expand the profit ratio.

However, factors such high cost of products and easy availability of alternative products are expected to hamper the growth of global automotive optoelectronics market. In addition, high cost of raw material is another factor expected to challenge the growth of target market.

Rapid technological advancements by major players coupled with innovative product offerings is in order to attract new customers are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements is another factor expected to support the revenue traction of target market.

Automotive Optoelectronics Market Segment Analysis, 2019

The global automotive optoelectronics market is segment in to vehicle type, product type, channel type and application. The product segment is bifurcated into LED’s, infrared component, image sensors, laser diodes, and optocouplers. Among vehicle type the passenger vehicle segment is expected to account for significant revenue share in the global market. The vehicle type segment is further divided in to passenger vehicle, light commercial vehicle (LCV), and heavy commercial vehicle (HCV).

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to rising demand for luxury vehicle with advanced solutions. In addition, presence of large number of players operating in the country coupled with innovative product offerings are among other factors expected to further support the growth of regional market.

Asia Pacific is expected to witness faster growth in the near future owing to rising demand for passenger vehicle sale in the region. In addition, developing regulatory scenario and demand for smart vehicles are among other factor expected to further support the growth of target market.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

The market research study on “Automotive Optoelectronics Market (Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV); Product Type: LED’s, Infrared Component, Image Sensors, Laser Diodes, and Optocouplers; Channel Type: OEMs and Aftermarket; Application: Position Sensors, Backlight Control, and Convenience and Safety) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global automotive optoelectronics market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global automotive optoelectronics market segment by vehicle type, product type, channel type, application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive optoelectronics market size and segment markets by vehicle type, product type, channel type, application and geography along with the information on companies operating in the market. The automotive optoelectronics market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Foryard Optolectronics Co, Osram Licht AG, Sharp Corporation, Koninklijke Philips N.V. Texas Instrument Inc, Autoliv Inc, Avago Technologies, FOSP Optoelectronics Co Ltd, OSI Optolectronics AS, and Vishay Intertechnology.

Market Segmentation

Market By Vehicle Type

• Passenger Vehicle
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

Market By Product Type

• LED’s
• Infrared Component
• Image Sensors
• Laser Diodes
• Optocouplers

Market By Channel Type

• OEMs
• Aftermarket

Market By Application

• Position Sensors
• Backlight Control
• Convenience and Safety

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa