The global automotive intelligent lighting market is forecasted to reach USD 37.26 Billion at a steady CAGR of 4.4% in 2027, according to latest analysis by Emergen Research. Increasing sales of luxury cars due to the rising purchasing power of consumers in the developing countries is driving the growth of the automotive intelligent lighting market during the forecast period. Increasing production and sales of commercial vehicles are contributing to the rising demand for the automotive intelligent lighting systems.
Rising demands for luxury integration coupled with a heavy market focus on automotive aesthetics and advances in technology for Automotive Intelligent Lighting are driving the demand for the market.
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.
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.
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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)
- Passenger Cars
- Commercial Vehicles
- Application Outlook (Revenue, USD Billion; 2017-2027)
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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About Emergen Research
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