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Automotive LED Market to be Worth $2.29B in 2020
December 22, 2015 | TrendForceEstimated reading time: 2 minutes
As for interior automotive LEDs, most products on the market still use standard-power LEDs. With the average sales prices of standard-power LEDs in a tailspin, the worldwide market value of interior automotive LEDs is expected to suffer negative growth in the next five years. LEDinside estimates that the market value will reach US$605 million this year but will later drop to US$603 million by 2020.
The only exception to this downtrend is LEDs for automotive instrument cluster. The market value of this application continues to grow against headwinds as the traditional mechanical instruments on the cluster are being replaced by LED instrument panels. The average size of these panels is also expanding, so more LEDs are needed. LEDinside therefore projects the CAGR of this market from 2015 through 2020 to be around 3%.
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