Automotive Photorelay Market to Witness Rise in Revenues By 2033

According to the Market Statsville Group (MSG), the Global Automotive Photorelay Market size is expected to grow at a CAGR of 6.7% from 2023 to 2033.

An automotive photorelay is a specialized electronic component used in automotive applications to control the flow of electrical current without physical contact. However, unlike conventional relays that employ mechanical switches, automotive photorelays utilize optoelectronic technology to perform the switching action. The automotive photorelay is a photovoltaic sensor and a semiconductor switch (typically a MOSFET) combined within a single package. When an input current or voltage is applied to the photodiode, it generates light that activates the semiconductor switch, allowing current to flow between its input and output terminals. Conversely, when the input signal is removed or falls below a certain threshold, the photorelay turns off, interrupting the current flow. Automotive photorelays have wide applications in controlling various electrical systems, such as headlights, power windows, indicator lights, and more, contributing to improved energy efficiency, enhanced safety, and overall vehicle performance.

The rising emphasis on energy efficiency and environmental sustainability in the automotive sector has upsurged the demand for photorelays. These photorelays are more energy-efficient than traditional relays due to their minimal power consumption, reducing the carbon footprint of their vehicles. Thus, the market is witnessing substantial growth owing to the continuous demand for fuel efficiency and electrifying fleets across the world. Further, the growing trend of modern automotive systems and the integration of advanced electronics have increased the demand for the automotive photorelays market.

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Automotive Photorelay Market Key Players, 2023

The Major key players in the global automotive photorelay market are:

• Panasonic
• Standex Electronics 
• Omron 
• Refurvo
• Renesas
• Toshiba
• IC-HI Technology
• Bright Toward Industrial
• Littelfuse
• Cosmo

Recent Developments:

• In June 2023, Renesas Electronics Corporation acquired Panthronics AG. The acquisition enhances Renesas’s in-house capability and captures the growing market opportunity in Near-Field Communication (NFC) technology in the automotive industry.
• In March 2023, Renesas Electronics Corporation’s wholly-owned subsidiary acquired Panthronics. The acquisition will enhance Renesas’ portfolio of connectivity technology, strengthening its market reach into Near-Field Communication (NFC) applications in asset tracking, IoT, wireless charging, and automotive applications.
• In January 2022, Toshiba Electronic Devices & Storage Corporation launched TLX9160T, a normally open (NO) 1-Form-A photorelay for high-voltage automotive batteries.
• In May 2021, Standex Electronics acquired American Relays brand, strengthening its portfolio of reed relays as it further expanded its position in the Test and Measurement market.

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Report Scope of the Global Automotive Photorelay Market

This market research study categorizes the automotive photorelay market-based on type, and application area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• Above 20 V and Below 80 V
• Above 100 V and Below 200 V
• Above 200 V and Below 350 V
• Above 350 V

By Application Outlook (Sales, USD Million, 2019-2033)

• Electric Vehicle (EV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)

By Region Outlook (Sales, USD Million, 2019-2033)

• North AmericaUSCanadaMexico
• EuropeGermanyItalyFranceUKSpainPolandRussiaThe NetherlandsNorwayCzech RepublicRest of Europe
• Asia PacificChinaJapanIndiaSouth KoreaIndonesiaMalaysiaThailandSingaporeAustralia & New ZealandRest of Asia Pacific
• South AmericaBrazilArgentinaColombiaRest of South America
• Middle East & AfricaSaudi ArabiaUAESouth AfricaNorthern AfricaRest of MEA

Automotive Photorelay Market Segmental Analysis, 2023-2033

Based on application, the market is divided into electric vehicle (EV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV). The plug-in hybrid electric vehicle (PHEV) segment accounted for the largest market share in 2023. PHEVs are vehicles that combine an internal combustion engine with an electric motor, allowing customers to operate on both traditional fuels and electricity. This hybrid technology needs precise and efficient control of electrical systems which increases the demand for the automotive photorelays. PHEVs rely heavily on intricate power management and distribution systems, where photorelays assist the low power consumption and fast switching capabilities. Further, the growing demand for sustainable and energy conservation across the globe augmented the market's segmental growth.

Based on the regions, the global automotive photorelay market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America