Home > Marketing > Automotive Optoelectronics Market,Size,Share,Report (2018 – 2025)

Automotive Optoelectronics Market,Size,Share,Report (2018 – 2025)

Added: (Thu Nov 22 2018)

Pressbox (Press Release) - The automotive optoelectronics market is projected to grow at a CAGR of 14.13% during the forecast period, to reach USD 9.80 billion by 2025. The high demand and increasing sales of premium segment vehicles and the rising awareness regarding vehicle safety performance are the major factors boosting the growth of automotive optoelectronics market globally.
The increasing consumer preference for connectivity features in vehicles and the increasing automation in the driving functions have accentuated the need for high-end electronics architecture in the vehicles. The growing electrification of various features in the vehicle would also act as a catalyst to the growing demand for optoelectronics automobiles. Rapid urbanization, especially in developing countries, has inflated the demand for commercial vehicles, which in turn would drive the growth of the automotive optoelectronics market.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144954147
The automotive optoelectronics market for safety application segment is estimated to grow at the highest rate during the forecast period. It is projected to grow at a promising CAGR from 2018 to 2025. The increasing mandates related to safety features in automotive across the globe along with high consumer preference for safety application have accelerated the growth of the automotive optoelectronics market. Leading automakers such as Honda (Japan), Ford (US), Hyundai (South Korea), Nissan (Japan), Toyota (Japan), and Daimler (Germany) offer various safety features that integrate optoelectronics devices for their smooth functioning. In addition, these manufacturers are consistently improving their technology with a strong focus on R&D.
The LED segment is expected to be the largest and fastest growing segment of the automotive optoelectronics market, by devices. The increasing demand for ambient lighting to enhance comfort and safety is the key factor driving the growth of the segment. Also, major automakers prefer LEDs for the exterior lighting of the vehicles as they work in all environmental conditions and offer effective results. Low power consumption and longer span are also driving the growth of the LED segment in the automotive optoelectronics market.
The passenger car segment is expected to be the largest as well as fastest growing segment of the automotive optoelectronics market, by vehicle type. Increase in LED lighting and demand for safety application in passenger car are anticipated to drive the passenger car optoelectronics market. Thus, the increasing consumer base for passenger cars coupled with high demand for premium passenger cars has contributed to the growth of automotive optoelectronics market.
The Asia Pacific region is projected to be the fastest growing market for automotive optoelectronics during the forecast period. The market growth in the region can be attributed to the rapid growth of the automotive sector in countries such as China, Japan, South Korea, and India. Moreover, the improved lifestyle of consumers and rapid urbanization have boosted the demand for passenger vehicles, which, in turn, would trigger the growth of the automotive optoelectronics market in the region.
Speak To Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=144954147
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Submitted by:
Disclaimer: Pressbox disclaims any inaccuracies in the content contained in these releases. If you would like a release removed please send an email to remove@pressbox.com together with the url of the release.