Automotive Intelligent Lighting Market to Reach US$ 8.70 Bn at a CAGR of 12.4% in 2027

Press Release

“The global automotive intelligent lighting market is estimated to account US$ 3.22 Bn in 2018 and is expected to grow at a CAGR of 12.4% during the forecast period 2020 – 2027, to account to US$ 8.70 Bn by 2027.”

Geographically, Europe holds the largest automotive intelligent lighting market share, owing to rapid technological developments, numerous investments, and supportive Government policies in the European countries. However, North America automotive intelligent lighting market is projected to grow with the highest growth rate during the forecast period. One of the major factors that has led to the development of automotive lighting solutions is the increasing accidents and fatalities observed in North America while driving in the dark.

Also, Horizon 2020 by EU focuses on providing funds for R&D on automotive by launching programs such as European Green Vehicles Initiative and programs on ‘Road Transport’, ‘ICT for Smart Mobility’, ‘Factories of the Future’ and ‘Logistic. For instance, in 2018, Tungsram announced its partnership with the government of Hungary, with this partnership the company serves its products to domestic and international clients, higher education actors, SME partners, and municipalities. Thus, acts as an independent company. These market initiatives and strategic contracts are expected to continue during the forecast period, contributing to the high growth of automotive intelligent lighting market in the region.

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Global Automotive Intelligent Lighting Market – Company Profiles

  • Automotive Lighting LLC
  • HELLA GmbH & Co. KGaA
  • Koito Manufacturing Co., Ltd.
  • Lumileds Holding B.V.
  • OSRAM Continental GmbH
  • Robert Bosch GmbH
  • SL Corporation
  • Tungsram
  • Valeo SA
  • Varroc Group

Growing demands for LED automotive exterior lighting

The front light and rear lights form the major share in the automotive lighting. Automakers have been increasingly looking for integrations of lightweight automotive components that enhance the fuel efficiency and performance of the vehicle. The LED lighting used in the automobiles of today is lightweight as compared to the traditional filament-based headlamps.

This helps in enhancement of fuel-efficiency of the vehicle and automotive performance. LED lamps are usually cooler, smaller, and consume lesser energy as compared to the standard automotive lamps. They also offer safety and comfort for the vehicle drivers and occupants. LED light source used in the headlights allows drivers to have a proper and better view of the road contours, better road anticipation power and thereby good reaction time for taking a decision.

Convergence of Connected Cars

Developed internet infrastructure, advances in semiconductors technology, availability of high definition displays are all on a path to completely transform the automotive industry. Driver telematics, in-vehicle infotainment systems, Advanced Driver Assistance Systems (ADAS) are already being rolled out in the market and are rapidly gaining widespread popularity. As far as the future of this industry is concerned, vehicle with Wi-F, vehicle-to-vehicle communications that would enable complete communication between cars on the road and exchange safety data such as traffic conditions, weather conditions and real-time location services , advanced infotainment systems and applications are anticipated to converge.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

 

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