Automotive Optoelectronics Market Size, Industry Analysis Report By vehicle type (passenger vehicle, light commercial vehicle, heavy commercial vehicle), By product (LEDs, infrared component, laser diodes, optocouplers), By sales channel (OEM, aftermarket), By application (position sensors, convenience and safety, backlight control) & Region – Forecasts
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 247
- CATEGORY
- Automotive & Transportation
Optoelectronic components possess the capability to supply, detect and control light in an automotive. Powertrain systems use electronic components primarily to enhance their performance and effectiveness. These parts help the car's powertrain systems communicate, detect signals, and regulate their actions.
The powertrain systems utilise a variety of sensors, including throttle position sensors, temperature sensors for the transmission fluid, and turbine speed sensors.
Optoelectronics are being employed more frequently in new cars to automate features like brake lights and headlights. Auto safety systems that use infrared sensors and lenses to identify things in low light, such as night vision, are gradually integrating optics and electronics.
Global Automotive Optoelectronics Market- Overview
The Global Automotive Optoelectronics Market is expected to grow at a considerable rate by 2030, with a growing CAGR of 14% over 2022-2030.
Increasing disposable income and increased demand for premium and ultra-luxury vehicles are the market's main growth factors. During the projected period, it is predicted that the passenger car sector would account for the biggest market share.
The global market for automotive optoelectronics is expanding as a result of the rising sales of passenger cars. The need for automotive optoelectronics is also rising as high-end electronics are increasingly being incorporated into in-vehicle functions.
During the anticipated period, the automotive optoelectronics market is expected to grow most quickly in terms of value in the LED devices sector. The rising need for ambient lighting to improve comfort and convenience in vehicles can be linked to the rise of the LED market.
Global Automotive Optoelectronics Market- Key trends
More use of modern optoelectronics products which basically have a much longer lifespan as compared to the traditional will help the market expansion
The lifespan of contemporary optoelectronics products is far longer than that of conventional components, which accelerates the adoption of these components. This reason has helped the market for automotive optoelectronics to boom recently.
Increasing production of automobiles globally to drive the growth of global automotive optoelectronics
Over the forecast period, rising automobile manufacturing will fuel the expansion of the worldwide automotive optoelectronics market. The majority of luxury automobile manufacturers provide their clients with enhanced safety features and personalization possibilities, which eventually increases demand for the worldwide automotive optoelectronics market.
Global Automotive Optoelectronics Market- Segmental assessment
By vehicle type
• Passenger vehicle
• Light commercial vehicle
• Heavy commercial vehicle
• Others
By product
• LED’s
• Infrared component
• Laser diodes
• Optocouplers
• Others
By sales channel
• OEM
• Aftermarket
• Others
By application
• Position sensors
• Convenience and safety
• Backlight control
• Others
Global Automotive Optoelectronics Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, North America is projected to capture a substantial revenue share over 2022-2030.
Global Automotive Optoelectronics Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are Avago Technologies, FOSP Optoelectronics Co Ltd, Foryard Optolectronics Co, Osram Licht AG, Sharp Corporation, Koninklijke Philips N.V., Texas Instrument Inc, Autoliv Inc, OSI Optolectronics AS, Vishay Intertechnology, Foryard Optolectronics Co., Hella, Broadcom, Grupo Antolin, Koito Manufacturing, Stanley Electric, Magneti Marelli, Renesas, Excellence Optoelectronics, San'an Optoelectronics, Sony Corporation, Selectronic, Zizala Lichtsysteme, Isocom Components, Merc, Jenoptik, Varroc Lighting, Endicott Research, and Proton-Orel.
Report scope
Global Automotive Optoelectronics Market: Historical Years- 2018-2021
Global Automotive Optoelectronics Market: Forecast Years- 2022-2030
Global Automotive Optoelectronics Market CAGR- 14%
Key segments covered-
1) By vehicle type (passenger vehicle, light commercial vehicle, heavy commercial vehicle, and others).
2) By product (LEDs, infrared component, laser diodes, optocouplers, and others).
3) By sales channel (OEM, aftermarket, and others).
4) By application (position sensors, convenience and safety, backlight control, and others).
Major regions and countries reported-
1) North America (U.S., Canada, and Mexico)
2) South America (Brazil, Argentina, and Colombia)
3) Europe (Germany, U.K., France, Italy, Spain, and Russia)
4) Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
5) Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Top players profiled- Avago Technologies, FOSP Optoelectronics Co Ltd, Foryard Instrument Inc, Autoliv Inc, OSI Optolectronics AS, Vishay Intertechnology, Foryard Optolectronics Co., Hella, Broadcom, Grupo Antolin, Koito Manufacturing, Stanley Electric, Magneti Marelli, Renesas, Excellence Optoelectronics, San'an Optoelectronics, Sony Corporation, Selectronic, Zizala Lichtsysteme, Isocom Components, Merc, Jenoptik, Varroc Lighting, Endicott Research, and Proton-Orel.
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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