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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