Albany, NY, Jan. 19, 2016 (GLOBE NEWSWIRE) — According to the report, the global automotive OLED market is projected to expand at a strong CAGR of more than 14.0% from 2015 to 2019, the report’s forecast period. Given that OLED is a rather expensive lighting technology in terms of incorporation, it is used mainly in high-end automobile models. The automotive OLED market has immense potential for future growth since it is still in its nascent stage. OLED displays are advanced lighting systems and can be competitively priced when produced on a large scale. The main issues that automotive OLED systems face are high initial manufacturing costs and short lifespan.
The research study carefully compares the cost of OLED lighting versus LED lighting in automotive settings and highlights the pros and cons of OLED in vehicles. With the help of the Porter’s Five Forces analysis, the report studies the impact of buyers, competitors, suppliers, new entrants, and substitutes on the overall automotive OLED market.
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By application, the automotive OLED market is bifurcated into interior lighting and exterior lighting. Interior lighting dominated the automotive OLED market in terms of application and this trend is anticipated to continue over the next three years. The feasibility of OLED for external automotive applications is a major challenge for the market, which has negatively impacted the growth of this segment.
On the basis of geography, the automotive OLED market is divided into the Americas, Asia Pacific (APAC), and Europe, the Middle East, and Africa (EMEA). EMEA has been identified as the most lucrative region for automotive OLED, with major growth in Europe. The decision of the European Union to collaborate with leading OLED manufacturers to support several projects and promote the development of a strong supply chain has greatly benefited the automotive OLED market in the region. Initiatives such as these are likely to continue to propel the market over the next three years.
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Astron FIAMM, OSRAM, LG, and Royal Philips are the leading vendors reviewed in the automotive OLED market research report. Other key vendors with strong potential for growth include Winstar, Visteon, Nippon Seiki, GE, and Konica Minolta. The various threats and opportunities faced by these vendors in the automotive OLED market have been thoroughly analyzed in the research study.
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Global Automotive LED Lighting Market: Trends and Opportunities (2014-2019)
The report provides an insight into the Automotive LED lighting market. The report assesses the market sizing and growth of the Global LED Automotive Lighting Market, the growth of various segments, segmentation on various parameters and regional analysis of automotive lighting market. The report also discusses key factors driving growth of the industry, major trends and challenges faced by automotive lighting companies in the world. Further, key players like Koito Manufacturing Co. Ltd, HELLA, and Stanley Electric are analyzed in the report.
Asia Pacific is emerging as the fastest growing region for LED Automotive Lighting with China showing tremendous potential. Taiwan, Japan and Korea are few other regions which offer great opportunity for the growth of LED automotive lighting market. Currently LED headlamps represent a very small fraction of the total LED Automotive Lighting, but holds immense business potential driven mostly by increasing adaptability of LED lamps in passenger cars.
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