Automotive smart lighting market size – USD 26.22 billion in 2019, Automotive smart lighting market growth – CAGR of 4.4%, – High demand for ADAS.
VANCOUVER, BC, CANADA, April 18, 2022 /EINPresswire.com/ —
The global automotive smart lighting market is expected to reach USD 37.26 billion at a stable CAGR of 4.4% in 2027, according to the latest analysis from Emergen Research. Rising sales of luxury cars owing to increase in consumer spending power in developing countries is driving the growth of the automotive smart lighting market over the forecast period. Rising production and sales of commercial vehicles contribute to the growing demand for smart lighting systems for automobiles.
Growing demands for luxury integration coupled with high market focus on automotive aesthetics and advancements in technology for automotive smart lighting are driving the market demand.
A major problem for the automotive smart lighting industry is the high cost of LED lamps. With the advent of new technologies, halogen and xenon / HID, which were used before, have become less popular. The main disadvantage of heating and wasting energy is halogen lamps, while xenon light is more complicated and takes some time to reach maximum brightness.
The automotive LED market is expected to show significant growth from 2019 to 2027. Halogen lamps, along with LED and xenon, account for the bulk of the total industry revenue. It has gained popularity due to its ease of availability, low production cost and low replacement cost. But rising fuel prices are expected to pose a challenge to the industry.
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Other key findings from the report suggest
The growth is expected to accelerate the increase in demand for environmentally friendly LED technologies due to high performance, reduced CO2 levels and high power.
Companies have tried to build environmentally friendly LEDs by encouraging product differentiation and improving their global footprint.
The adaptive headlight is an active safety device designed to improve driver visibility in poorly lit areas. It includes features including auto-rotation that can sync with sensors and change brightness and light intensity.
The automotive smart lighting industry in Asia-Pacific is expected to grow. This region will lead the industry in continued supplier expansion combined with a large production base.
In January 2019, Shapelines bulbs, light duty, auxiliary lights, warning lights and accessories were introduced by Hella. The company has equipped a demonstration truck with lighting for buses and trailers.
The major market players are Osram GmbH, Valeo SA, Hella KGaA Hueck & Co., Stanley Electric, Koito Manufacturing Co., Ltd., Magneti Marelli, Koito Manufacturing Co., Ltd., General Electric, Continental, and Bosch, among which others.
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For the purposes of this report, Emergen Research has segmented the global automotive smart lighting market based on technology, vehicle type, application, and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
The rest of Europe
Rest of APAC
Rest of LATAM
United Arab Emirates
Rest of MEA
1 Scope of the report
1.1 Market Overview
1.2 Research objectives
1.3 Years considered
1.4 Market research methodology
1.5 Economic indicators
1.6 Currency considered
2 Executive summary
3 Global Automotive Intelligent Lighting by Players
4 Automotive Intelligent Lighting by Regions
4.1 Automotive Intelligent Lighting Market Size by Regions
4.2 Americas Automotive Intelligent Lighting Market Size Growth
4.3 APAC Automotive Intelligent Lighting Market Size Growth
4.4 Europe Automotive Intelligent Lighting Market Size Growth
4.5 Middle East & Africa Automotive Intelligent Lighting Market Size Growth
8 Middle East and Africa
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market trends
10 Global Automotive Intelligent Lighting Market Forecast
Analysis of the 11 key players
12 Research findings and conclusion
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Finally, all aspects of the Automotive Smart Lighting Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market based on market drivers, limitations and its future prospects.
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