Optoelectronics is a
branch of electronics which deals with study and applications of electronic
devices and systems that source, detect and control light. Optoelectronics are
progressively being utilized in cars in order to automate the vehicle
operations such as headlights, brakes, etc. In addition, optoelectronic is also
gradually being incorporated in case of automotive safety systems such as night
vision systems wherein active infrared or passive infrared systems are used in
order to increase the distance a driver can see beyond the reach of headlights
or also in poor driving conditions.
Moreover, the use of
LEDs is projected to greatly benefit the Automotive Optoelectronic market over
the forecast period. For instance, they are used for brake lights, puddle
lights, hazard lights, warning lights, etc. The factors that propel the growth
of the global Automotive Optoelectronic market include growing production of
automobiles all over the world. In addition, rise in demand for luxury cars
from developing economies such as Brazil, China and India will drive the growth
of market during
the forecast period.
Moreover, most of the
luxury car manufacturers provide innovative safety options to their customers
coupled with options for customization which boosts the demand for global
Automotive Optoelectronics market.
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On the other hand,
there are also factors that hamper the growth of the market such as rise in
price of LED because of high cost of raw materials such as aluminium,
automotive plastics, electronic components, steel and other resin material. In
addition, inorganic compound semiconductors provide enhanced mechanical,
optical and electrical properties which significantly fuel the growth of the
global Automotive Optoelectronics market.
The global Automotive
Optoelectronic market is classified on the basis of vehicle type, product type,
application, channel type, and geography. On the basis of vehicle type, the
global Automotive Optoelectronic market is classified as passenger vehicle,
light commercial vehicle (LCV) and heavy commercial vehicle (HCV). On the basis
of product type, the global Automotive Optoelectronic market is classified as
LED’s, infrared component, image sensors, laser diodes and optocouplers. On the
basis of application, the global Automotive Optoelectronic market is classified
as position sensors, backlight control and convenience and safety. On the basis
of channel type, the global Automotive Optoelectronic market is classified as
OEMs and aftermarket.
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