Extensive Enhancement Of Electronic Components In Automobiles Sector Is Fueling Automotive Optoelectronics Market Growth Till 2024: Grand View Research, Inc.

March 01 19:01 2017

Grand View Research, Inc. – Market Research And Consulting.
According to new report by Grand View Research, The rise in demand for luxury cars from developing economies such as Brazil, China and India will drivethe growth of Automotive Optoelectronics Market during the forecast period.

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.

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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 drivethe growth of market during the forecast period.

Moreover, most of the luxury car manufacturers provideinnovative safety options to their customers coupled with options for customization which boosts the demand for global Automotive Optoelectronics market.

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Asia Pacific is projected to be the most lucrative market for automotive optoelectronic owing to rise in demand for luxury vehicles along with growing awareness regarding safety systems among customer. On the other hand, Western Europe followed by North America is other significant regions to positively influence the growth of the global Automotive Optoelectronics market in the coming years.

Some of the prominent players that fuel the growth of the global Automotive Optoelectronics market include Avago Technologies, FOSP Optoelectronics Co Ltd, Foryard Optolectronics Co, Osram Licht AG, Sharp Corporation, Koninklijke Philips N.V. Texas Instrument Inc, Autoliv Inc, OSI Optolectronics AS, and Vishay Intertechnology.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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