Current Boom in Automotive Industry to Promote Automotive Intelligent Lighting System Market Growth

27/gen/2020 11:51:47 Automotive Market Research Reports Contatta l'autore

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The global Automotive Intelligent Lighting System Market is anticipated to register a CAGR of 7% during the forecast period (2018-2023), Market Research Future (MRFR) reveals in a detailed report. Automotive intelligent lighting is the use of artificial intelligence to switch the lights on and off while adjusting the illumination, depending on the surrounding. Automotive intelligent system is an upcoming technology and is the basis of the much awaited autonomous vehicles.

Market Potential and Pitfalls

The automotive intelligent lighting system market has witnessed a tectonic surge over the past few years due to the current boom in the automotive industry. The increasing sales of automobiles have resulted in surging demand for intelligent lighting systems across the globe. Moreover, the adoption of passenger and pedestrian safety features like lane departure warning systems and advanced driver-assistance systems have increased across the globe. This is anticipated to play a major role in the growth of the market in the foreseeable future.

Intelligent lighting system is one of the recent developments in the automotive sector. Whenever the surrounding gets darker, the lights automatically turn off. These intelligent lights also assist in adjusting the lamination level, according to the external environment. This further facilitates the pedestrians and the drivers to spot each other, thus reducing the chances of mishaps. Such factors are likely to influence the growth of the market across the globe.

On the contrary, high manufacturing and installation cost of intelligent lighting systems in vehicles have retarded the market growth across the globe. Thus, there is less adoption of these lights in India, the region being a cost-sensitive marketplace. On a brighter note, the surging awareness associated with the importance of safety features in automobiles, the market is estimated to grow.

Automotive Intelligent Lighting System Market: Segmental Analysis

The automotive intelligent lighting system market is segregated on the basis of type of light, vehicle type, technology, and end use.

By technology, the automotive intelligent lighting system market is segmented into Xenon, halogens, and LED. Among these, the LED technology is expected to gain prominence due to its surging demand among the consumers.

By type of light, the automotive intelligent lighting system market is segmented into adaptive headlight and intelligent ambient lighting.

The market is bifurcated into light commercial vehicle, passenger car, and heavy commercial vehicle based on vehicle type. Among these, passenger cars are predicted to expand at a significant rate owing to the increased sales of high-end cars across the globe. Meanwhile, commercial vehicles are likely to witness expand at a moderate rate due to rising regulations from the government for improved automotive safety systems, coupled with the steady growth in commercial vehicles globally.

By end use, the market is segmented into OEM and aftermarket. Of these, the OEM segment is likely to gain prominence, mainly due to the rising production of vehicles, affordable product offerings by OEMs, and changing consumer preferences.

Regional Frontiers

Geographically, the automotive intelligent lighting system market spans across Europe, North America, Asia Pacific, and Rest of the World (RoW).

Considering the global scenario, Asia Pacific is likely to expand at the highest rate and is mainly driven by countries like Japan, China, and South Korea. These countries are regarded as technological pioneers of the automotive industry. Emerging nations like Indonesia, India, and Taiwan are likely to experience high growth in the coming years.

North America is predicted to emerge as a prominent region mainly due to the increasing sales of the automotive industry, coupled with the surging installation of intelligent lighting system in automobiles.

Europe is likely to expand at a significant rate and is predicted to retain its growth in the foreseeable future. The industry in this region is mainly driven by the rising need for safety against collision owing to low visibility, especially during the night hours. Moreover, the growing number of high-end passenger cars like Audi, BMW, Volvo, and Mercedes Benz are estimated to trigger the demand from the automotive intelligent lighting system market.

Industry Updates

May 2019: Heliospectra AB has recently declared a new introduction to the company's product portfolio. The all-new ELIXIA model is designed with a high input voltage, which ranges from 277 to 480VAC power supply for a software-controlled LED light solution and fully adjustable spectrum. ELIXIA fixture is ideal for larger facilities using industrial-scale electrification for crop production.

Competitive Dashboard

The prominent players operating in the global automotive intelligent lighting system market include Magneti Marelli S.p.A. (Italy), Hella KGaA Hueck & Co. (Germany), ELBA SA (Romania), Osram Continental GmbH (Germany), KOITO MANUFACTURING CO., LTD. (Japan), Teknoware Oy (Finland), HYUNDAI MOBIS (Korea), Grupo Antolin (Spain), STANLEY ELECTRIC CO., LTD. (Japan), and ICHIKOH INDUSTRIES, LTD. (Japan).

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