Automotive Intelligent Lighting System Market Size, Latest Innovations, Analysis, Top Leaders and Forecast 2023

03/mar/2020 10:40:03 Automotive Market Research Reports Contatta l'autore

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The global automotive intelligent lighting system market is expected to exhibit a CAGR of 7% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global automotive intelligent lighting system market is mainly driven by the growing technological advancement in the field of intelligent lighting, sensors, and the Internet of Things, which is likely to drive further product development in the automotive intelligent lighting system market over the forecast period.

Automotive intelligent lighting systems refer to electronic systems that monitor the ambient environment in terms of lighting and operate the lighting system accordingly. This includes automatically turning on the headlight when it gets dark, operating the internal lighting to the maximum convenience of the driver, etc. The growing demand for driver comfort in modern automobiles has driven the demand for automotive intelligent lighting systems in the last few years. Automotive intelligent lighting systems are also a key step in enhancing driver safety, as the scenario of the driver forgetting the turn on the light is avoided. This is likely to be a key driver for the global automotive intelligent lighting systems market over the forecast period, as driver safety is likely to be a key agenda for a number of governments around the world over the forecast period.

On the other hand, the high costs of automotive intelligent lighting systems have held back their widespread adoption over the world, as consumers with low disposable income cannot afford cars housing such technical equipment. This could restrict the growth prospects of the global automotive intelligent lighting system market considerably over the forecast period, in spite of the growing prospects of the market in developed regions such as North America and Europe.

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Competitive Analysis:

Leading players in the global automotive intelligent lighting system market include Stanley Electric Co. Ltd., Ichikoh Industries Ltd., Hyundai Mobis, Grupo Antolin, Koito Manufacturing Co. Ltd., Teknoware Oy, ELBA SA, Osram Continental GmbH, Magneti Marelli SpA, and Hella KGaA Hueck & Co.

Osram Continental GmbH was formed in October 2018 by Osram and Continental GmbH forming a joint venture specifically targeting advancements in automotive intelligent lighting systems. The two companies hold 50% shares each and plan to merge their automotive expertise to develop sustainable and efficient automotive intelligent lighting systems.

Segmentation:

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

On the basis of technology, the global automotive intelligent lighting system market is segmented into xenon, LED, and halogens.

On the basis of type of light, the automotive intelligent lighting system market is segmented into intelligent ambient lighting and adaptive headlights.

On the basis of vehicle type, the global automotive intelligent lighting system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.

On the basis of end use, the global automotive intelligent lighting system market is segmented into OEM and aftermarket.

Regional Analysis:

Asia Pacific is expected to dominate the global automotive intelligent lighting system market over the forecast period due to the rapid growth of the automotive industry in the region. Countries such as China, Japan, South Korea, and India have emerged as major producers as well as major technical innovators in automotive tech in recent years, lending strong growth prospects to the automotive intelligent lighting system market in the region. Countries with a rapidly emerging automotive industry, such as India, Taiwan, and Indonesia, are likely to be the regional leaders in the automotive intelligent lighting system market in Asia Pacific over the forecast period.

Europe is also likely to play a leading role in the global automotive intelligent lighting system market over the forecast period due to the presence of several leading automotive technology innovators in the region, which is likely to lead to steady development of product advancements in the field of automotive intelligent lighting. North America is also a leading innovator in the automotive industry and is likely to retain a sizeable share in the global automotive intelligent lighting system market over the forecast period.

The market doesn’t stand to make much progress in Latin America, the Middle East, and Africa at present due to the low disposable income of consumers in these regions.

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