"Ilscience, Expected to Supply Core Automotive Electronic Components"

[Asia Economy Reporter Hyungsoo Park] Hana Financial Investment forecasted on the 18th that IL Science is highly likely to apply silicon lenses in the automotive industry sector.

Choi Jae-ho, a researcher at Hana Financial Investment, explained, "According to market research firm Omdia, the market size for vehicle LED is expected to grow 19.6% year-on-year to 2.6 trillion KRW this year."

He continued, "The adoption rate of LED lighting is expected to increase from the current 35% to 72% by 2024," adding, "IL Science registered as a partner of Hyundai Mobis last year on the condition of supplying silicon lenses for the automotive electronics sector."

Furthermore, he said, "It is estimated that they are currently developing silicon lens products for multi-beam headlamps," and "results are expected to become visible by the end of the year."

Researcher Choi emphasized, "IL Science is already understood to be supplying indoor lighting silicon lenses to domestic automotive brand models," and "the application range of silicon lenses is expanding toward the automotive sector."

IL Science has been focusing on selling high value-added LED silicon lens products, which it developed for the first time in the world in 2015. It is expanding its portfolio based on smart optical solutions such as Internet of Things (IoT) smart lighting and LED hair care devices.

This content was produced with the assistance of AI translation services.