BLOOMINGTON, Minnesota, June 22, 2017 /PRNewswire/ --
According to a new market research report by BIS Research, titled 'Global Automotive Adaptive Lighting Market - Analysis and Forecast (2017-2023)', the automotive adaptive lighting market is estimated to reach $1.5 billion by 2023 at a CAGR of 13% from 2017 to 2023. The shifting paradigm of automotive lighting industry from simple incandescent and gas discharge based light sources to light emitting diodes (LEDs), laser technology and organic light emitting diodes (OLEDs) is one of the major reasons for the growth of the automotive adaptive lighting market.
Browse 78 market data Tables and 107 Figures spread through 201 Pages and in-depth TOC on 'Global Automotive Adaptive Lighting Market' https://bisresearch.com/industry-report/global-automotive-adaptive-lighting-market-2023.html .
The installation of ADAS systems such as adaptive lighting provides an optimized vision to the driver during night time and during poor-sight conditions to improve the visibility and enhance driver's and passengers' safety. Such assistance has increased the importance of advanced lighting systems in all types of vehicles. The factors such as the substantial decrease in the LED prices, along with the increasing safety concerns and increased vehicle sales volume globally are driving the growth of the automotive adaptive lighting market. In addition to this, the market is driven by the increased safety standards and government regulations. In 2014, the Euro NCAP, which oversees the automotive safety standards in Europe, increased the active safety weighting share to 20% from 10%. To meet the 5-star rating of NCAP, the OEMs have to include one or more active safety systems on each vehicle model, thereby, driving the demand for adaptive lighting.
According to Surabhi Rajpal, analyst at BIS Research, "The halogen light segment dominated the global automotive adaptive lighting market and contributed 62.3% in 2016, and is expected to continue its dominance in the forecast period. Factors such as low-cost and easy availability are driving the demand for halogen light. However, the penetration of LED lighting is the highest in comparison to other lighting sources for automotive adaptive lighting market. Moreover, the demand for LED for adaptive front lighting is increasing as LED lights can focus on a particular light beam area and thus, prevent glare issues from oncoming vehicles. "
The landscape of the automotive adaptive lighting market has transformed drastically with the integration of modern technologies in the lighting industry. The LED light segment is expected to grow at the fastest rate in comparison to other light sources for automotive adaptive lighting market in the forecast period. Factors such as declining average price, low energy consumption, and increased service life are driving the demand of LED for automotive adaptive lighting market.
The increased adoption of intelligent lighting technology is attributed to the associated advantages such as cost reduction, energy price fluctuations, supply shortage reduction, and carbon emissions reduction. Geographically, Europe dominated the global automotive adaptive lighting market and is also expected to grow at the fastest rate in the forecast period. The market in the region is majorly driven by the governmental regulations and a need for safety against collision due to less visibility, especially at night on highways.
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The market intelligence report provides a detailed analysis of the key growth drivers and restraining forces of the global automotive adaptive lighting market, with an extensive insight into various forms of developments, trends and key participants in the market. The market has been divided along the lines of technology, application, vehicle type, and distribution channel. The market report includes a thorough analysis of the market size, along with market estimation based on key geographical regions. Incorporating a detailed financial analysis of key players in the market, the report provides an individual SWOT analysis of each company. Some of the key players analyzed in the report are Koito Manufacturing Ltd (Japan), Valeo Group (France), Hella KGaA Hueck & Co. (Germany), Magneti Marelli S.p.A (Italy), Stanley Electric Co. (Japan), Zizala Lichtsysteme GmbH (Austria), and SL Corporation (South Korea).
This report is a meticulous compilation of research on more than 100 players in the automotive lighting ecosystem and draws upon insights from in-depth interviews with key opinion leaders, market participants and vendors.
The report addresses the following questions about the global automotive adaptive lighting market:
- What is the market size, in terms of revenue, of the global automotive adaptive lighting market from 2016-2023?
- What is the market size, in terms of revenue, of the technology type, such as halogen, xenon, LED, OLED, and laser, in the global automotive adaptive lighting market?
- Which application of the automotive adaptive lighting will dominate the market during the forecast period?
- What is the market size, in terms of revenue, of the vehicle type, such as passenger cars and commercial vehicles in the global automotive adaptive lighting market?
- What is the market share of different technology types with respect to geographical regions in the global automotive adaptive lighting market?
- Which region will lead the global automotive adaptive lighting market by the end of the forecast period?
- What are the different factors driving the market forward during the forecast period?
- What are the major factors challenging the growth of the global automotive adaptive lighting market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defence, automotive, healthcare, electronics & semiconductors, robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for the senior management.
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SOURCE BIS Research