All Eyes on Automotive LEDs - Energy Watch News

All Eyes on Automotive LEDs

In the ever-growing LED market, automotive LEDs are witnessing a rapid development. This is driven by various regulations enforced by governments around the world for fuel-efficient gasoline vehicles. In addition, manufacturers of hybrid vehicles and electric vehicles have increasingly embraced new technologies. Also, with substantial development in automotive electronics, many LED manufacturers are now trying to gain their positions in this market. According to statistics from LEDinside, a division of TrendForce, the global automotive LED lighting market is projected to reach a total value of US$ 2.817 billion, growing at a CAGR of 14.8%. In comparison, the overall LED industry will only grow at a CAGR of 3% from 2015 to 2021.

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