PUNE, India, August 10, 2018 /PRNewswire/ --
According to a new market research report "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",
published by MarketsandMarkets™, the market is estimated to be
USD 3.88 billion in 2018 and is
projected to reach a market size of USD 9.80
billion by 2025, growing at a CAGR of 14.13% during the
forecast period. The major factors driving the growth of the global
Automotive Optoelectronics Market are the increase in sales of
luxury and ultra-luxury vehicles and high demand for LEDs lighting
and safety application.
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Browse 53 market data Tables and 53 Figures spread through
148 Pages and in-depth TOC on "Optoelectronics
Market for Automotive"
https://www.marketsandmarkets.com/Market-Reports/optoelectronic-market-144954147.html
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The safety application segment is estimated to be the fastest
growing market in the Automotive Optoelectronics Market during the
forecast period, by application
The safety segment is estimated to witness the highest growth
because of the rising demand for safety features by consumers to
enhance the vehicle safety performance. Also, OEMs are offering
vehicles equipped with safety features, which in turn would drive
the optoelectronics market.
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The LED segment is estimated to be the fastest growing market
in the Automotive Optoelectronics Market during the forecast
period, by devices
The LED segment is estimated to be the fastest growing segment,
by value, of the Automotive Optoelectronics Market during the
forecast period. The high demand for aesthetic lighting to improve
the comfort and safety inside the vehicle for the occupants is
governing the growth of LED segment devices.
Asia Pacific is estimated to
be the fastest growing regional market for 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, India, and South
Korea. Moreover, the improved lifestyle of consumers and
rapid urbanization have boosted the demand for passenger cars and
commercial vehicles, thus, driving growth of the Automotive
Optoelectronics Market in the region.
The key players in the Automotive Optoelectronics Market
are Osram (Germany), Texas (US),
Vishay (US), Broadcom (US), Hella
(Germany), and Magneti Marelli (Italy).
Know more about the Optoelectronics Market:
https://www.marketsandmarkets.com/Market-Reports/optoelectronic-market-144954147.html
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