Optoelectronics Market by Devices, Application & Region

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Optoelectronics Market by Devices, Application
Region
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ptoelectronic-market-144954147.html
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The Automotive Optoelectronics Market is
estimated to be USD 3.88 billion in 2018 and is
projected to reach USD 9.80 billion by 2025, at a
CAGR of 14.13 from 2018 to 2025. The key growth
drivers for the market are the increasing
awareness regarding vehicle safety and rising
demand for luxury and ultra-luxury
vehicles. Get The PDF Brochure For This
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Tables and 53 Figures spread through 148 Pages
and in-depth TOC on "Optoelectronics Market
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The passenger car segment is estimated to hold
the largest market share during the forecast
period. The increasing sales of passenger cars
globally are leading to the exponential growth of
the automotive optoelectronics market. Also, the
growing trend of integrating high-end electronics
for in-vehicle features is inflating the demand
for automotive optoelectronics. The LED devices
segment is projected to register the fastest
growth, in terms of value, in the automotive
optoelectronics market during the forecast
period. The growth of the LED segment can be
attributed to the increasing demand for ambient
lighting to enhance the comfort convenience in
the vehicle. By application, the safety segment
is expected to register the fastest growth, by
value, in the automotive optoelectronics market
during the forecast period. The increasing number
of safety mandates by several governments across
the globe along with the high consumer preference
for safety applications is driving the growth of
the automotive optoelectronics market. Some of
the key manufacturers operating in the market are
Osram (Germany), Hella (Germany), Texas (US),
Broadcom (US), and Vishay (US). https//www.marke
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By market channel, OE market segment is
estimated to be the largest segment of the
automotive optoelectronics market during the
forecast period. The growth of this segment can
be attributed to the offering of features such as
ambient lighting, convenience climate features,
and safety features as standard fitment by the
automakers. OE is expected to remain an
attractive market in the near future due to the
increase in demand for such features by the
consumers. The North American region is
projected to be the largest market for automotive
optoelectronics by 2025. The increasing
production of automobiles and a significant rise
in demand for premium segment passenger cars are
driving the market growth in this region. The
Asia Pacific region is anticipated to register
the fastest growth in automotive optoelectronics
by 2025. The adoption rate of applications such
as safety and lighting in vehicles is expected to
show incremental growth in the region in the
coming years. The increased adoption rate makes
the Asia Pacific region the fastest growing
market during the forecast period. Dont miss
out on business opportunities in Optoelectronics
Market for Automotive. Speak to our analyst and
gain crucial industry insights that will help
your business grow.
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