Market research firm Trendforce estimates the the automotive LED market could be worth as much as $2.29 billion in 2020.
LEDs used in vehicles will include headlights, directional signals, fog lights and position lights, and Trendforce believes volumes and prices in the automotive market promise stability for manufacturers.
Trendforce said that the total LED volume for vehicles used externally amounted to 2.79 billion nits this year. These devices are high/low beam LEDs, as opposed to standard LEDs.
High/low beam LEDs will show a compound annual growth rate (CAGR) of 11 percent during 2015 to 2020.
Standard power LEDs are in a decline, even in the automotive market. But one exception is so-called automotive instrument clusters – that is to say non mechanical dashboard displays.