Vancouver, British Columbia, Jan. 27, 2021 (GLOBE NEWSWIRE) — 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. The long-term energy and cost savings offered by LED compared to conventional lights is boosting the sales of the LED. The adoption of emerging technologies in the lighting market is expected to drive growth opportunities in the automotive intelligent lighting market during the forecast period. The adoption rate of advanced lighting systems is comparatively low among commercial vehicle manufacturers due to the high cost of advanced intelligent lighting systems.
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Key Highlights From The Report
- In January 2019, Plastic Omnium and the automotive suppliers Hella KGaA Hueck & Co. entered into a strategic partnership. The partnership aimed at accelerating the holistic integration of lighting technologies into the vehicle exterior, especially for the rear and front areas. The partnership is expected to provide advanced functionalities and new styling for the body exterior.
- The halogen segment accounted for largest market share of 59.1% in 2019. The easy availability and low purchasing & replacement costs of the halogen are driving the demand for halogen during the forecast period.
- The passenger cars segment accounted for largest market share of 52.3% in 2019. Growing sales of passenger vehicles coupled with the willingness of consumers to pay more for cars is expected to drive the adoption of automotive intelligent lighting in passenger cars.
- The headlamps segment accounted for a significantly high revenue share in the automotive intelligent lighting market in 2019. Growing usage of LEDs in headlamps compared to halogen and Xenon bulbs is driving the utilization of automotive intelligent lighting for headlamps.
- The Asia Pacific accounted for the largest revenue share contribution to the global automotive intelligent lighting market in 2019. Rapid urbanization and rising sales of luxury cars due to the increasing purchasing power of consumers in the developing countries are boosting the growth of the automotive intelligent lighting market during the forecast period.
- 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)
- Front/headlamps
- Rear
- Side
- Interior
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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