Automotive Optoelectronic Market 2015-2019

Market outlook for automotive optoelectronics

Extensive development of electronic components in automobiles has resulted in a considerable dependence on electronic components in vehicles. Technavio market research analysts predict the global automotive optoelectronics market to grow at a CAGR of over 17% from 2015 to 2019.

The optoelectronics market is expected to witness a rapid growth rate over the forecast period with the increasing penetration rate of image sensor systems and high-capacity batteries in cars coupled with the exploration of energy efficient LEDs. Regulatory support in the form of mandatory use of LEDs is expected to immensely benefit the optoelectronics market over the next four years.

The growing use of optocouplers in hybrid and electric vehicles to isolate the onboard battery and other high voltage systems is another emerging market trend that is expected to positively impact the optoelectronics market over the same period.

What impact does optoelectronics have on automobiles?

Electronic components are typically used in powertrain systems to improve their functioning and efficiency. The optoelectronic components assist powertrain systems to exchange messages, sense signals and control signals for their operations.

There are different types of sensors that are used in powertrain systems such as speed sensor, throttle position sensor, turbine speed sensor, and transmission fluid temperature sensor. Optoelectronics is increasingly being used in vehicles to automate the vehicle functions such as headlights and brake lights. Optoelectronics is gradually being integrated with automotive safety systems such as night vision systems where infrared sensors and lens capture hard to detect objects in low light environments.

Applications of Optoelectronics:

Market segmentation and analysis of automotive optoelectronic by product type

• LEDs
• Optoelectronic IR & sensors               

The IR and sensors market constitute a small portion of the market but is equally important in terms of technological advancement and future market potential. Infrared components, such as light sensors, are used to detect light to determine whether to switch on or off headlamps. Sensors are used in a variety of applications such as occupant detection sensors, brake lights, tunnel sensors, daylight sensors, and indicator lamps.

Geographical segmentation of the automotive optoelectronic market

• APAC            
• EMEA           
• Americas

The EMEA leads the global optoelectronics market in terms of revenue. The EU and the US federal governments are constantly emphasizing on the concept of energy efficiency in vehicles. The EU has already passed a directive that enforces all new vehicles to be fitted with daylight running lamps. The directive has led to an increased usage of LEDs in headlights in the EU region. 

Competitive analysis of the automotive optoelectronics market

• Avago
• Osram
• Philips 
• Sharp
• Texas Instruments 

Though the initial investment to set up an automotive optoelectronics manufacturing unit is fairly high, the growth prospects of this industry are attractive. Many new entrants are expected to foray into the market during the forecast period.

Other prominent vendors of the market include Autoliv, Foryard Optoelectronics, FOSP Optoelectronics, OSI Optoelectronics, and Vishay.

Key questions answered in the report

• Revenue forecast and growth of the automotive industry until 2019?
• What are the key factors driving the automotive optoelectronics market market?
• What are the key market trends impacting the growth of the automotive optoelectronics market?
• What are the various opportunities and threats faced by the automotive optoelectronics market?
• Trending factors influencing the market shares for EMEA, APAC, and Americas?
• Key outcome of the five forces analysis on the automotive optoelectronics market?
• Growth forecast of the automotive optoelectronics market until 2019?

Technavio also offers customization on reports based on specific client requirement.

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