Automotive Intelligent Lighting Market Size – USD 26.22 Billion in 2019, Automotive Intelligent Lighting Market Growth – CAGR of 4.4%, Automotive Industry
— Emergen Research
VANCOUVER, BC, CANADA, May 30, 2022 /EINPresswire.com/ — The Global Automotive Intelligent Lighting Market is projected to reach USD 37.26 billion in 2027. Strict policies of the government and growing security issues are likely to propel development over the forecast period. However, increasing customer awareness about the importance of automotive intelligent lighting, including dynamic bend light and a glare-free high beam, is also expected to have a positive effect on the demand for exterior lighting.
The industry is expected to be powered by increased apprehensions about using energy-efficient methods coupled with increasing customer disposable income. In addition, growing demand for automobiles and technical advancements in the automotive industry is expected to propel use. Owing to the rising number of total vehicles purchased y-o-y across BRIC nations, lucrative growth prospects are anticipated for new entrants in the industry. Legislative authorities, therefore, need to work with suppliers of light procurement technology to develop scalable design techniques.
A main issue for the Automotive Intelligent Lighting industry is the high cost of LED lamps. With the advent of new technologies, halogen and Xenon / HID, which were used earlier, have become less popular. The main downside to heating and energy-wasting is halogen lamps, while Xenon light is more complicated and takes some time to reach maximum brightness.
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Rising sales and production of commercial vehicles around the world are major factors that are expected to fuel the market growth during the forecast period. Owing to growing concerns about the safety of the vehicle and strict government regulations have spurred technological advancements, which further boosts the demand. The rapidly increasing population and rising purchasing power in developing economies are expected to boost the market demand during the forecast period. Headlight designs have taken a sharp turn towards aestheticism and are available in compact sizes. This is projected to further fuel the adoption of automotive intelligent lighting.
It is projected that the Automotive LED market will show significant growth from 2019 through 2027. Halogen lamps, accompanied by LED and xenon, lead to the bulk of total industry revenues. It has gained popularity due to ease of availability, low cost of production, and low cost of replacement. But rising fuel prices are expected to pose a challenge to the industry.
Further key findings from the report suggest
Growth is expected to accelerate the rise in demand for eco-friendly LED technologies due to high performance, reduced CO2 levels, and high power.
Companies tried to build environmentally-friendly LEDs on encouraging product differentiation and improving their global footprint.
The adaptive headlight is an active safety device intended to improve the visibility of the drivers in poorly lit areas. It includes functionalities, including automatic rotation that can synchronize with sensors, and change brightness and light intensity.
The Automotive Intelligent Lighting industry in Asia-Pacific is expected to expand. This region will be the industry leader in the continuous expansion of suppliers combined with a broad production base.
In January 2019, Shapelines bulbs, light work, auxiliary lights, warning light, and accessories were introduced by Hella. The company fitted a demonstration truck with lighting for buses and trailers.
Key players in the market include Osram GmbH, Valeo S.A., Hella KGaA Hueck & Co., Stanley Electric, Koito Manufacturing Co., Ltd., Magneti Marelli, Koito Manufacturing Co., Ltd., General Electric, Continental, and Bosch, among others.
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For the purpose of this report, Emergen Research has segmented the global Automotive Intelligent Lighting Market on the basis of 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)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
The automotive lighting market in the Asia Pacific held more than 40% of the global share in 2020. The rise in the production of automobiles in nations like India, Japan, China, and Taiwan and the increase in population, advancing markets, and rise in purchasing power of consumers are expected to boost the demand in the region.
Europe is expected to exhibit lucrative growth due to the rising need for reverse, brake, signal indicators, and interior lights. Moreover, environmental regulations have made it compulsory to install LEDs in several applications. North America is estimated to observe a robust demand for LED lights, majorly in the automotive sector, supported by the rising application of them in the interior design sector
Table of Content:
1 Scope of the Report
1.1 Market Introduction
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 & 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
11 Key Players Analysis
12 Research Findings and Conclusion
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Finally, all aspects of the Automotive Intelligent 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 on the basis of market drivers, limitations and its future prospects.
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Automotive Intelligent Lighting Market Size Worth USD 37.26 Billion By 2027