DUBLIN, June 19, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Automotive Adaptive Lighting Market, Analysis and Forecast, 2017-2023" report to their offering.
The dynamic evolution of the automobile industry is attributed primarily to changing consumer preferences, growing focus on environment concerns, increased safety, and stringent government regulations. Lighting plays a critical role in the automotive industry and is growing at a rapid pace, driven by safety and design. Rapid technological developments in the automotive lighting industry have witnessed a radical transformation from simple incandescent and gas discharge based light sources to light emitting diodes (LEDs) laser technology and organic light emitting diodes (OLEDs).
The price of LEDs have reduced drastically in the past decade, and this trend is expected to continue in the forecast period. In addition to this, this changing paradigm of automotive lighting industry has led to a shift from traditional lighting sources such as incandescent and fluorescent lamps to solid-state light sources, which has resulted in an overall reduction in CO2 emissions, which acts as an important factor in driving the demand for automotive lighting market.
The report defines and estimates the market size and future growth potential of automotive adaptive lighting market and automotive lighting market. The global automotive adaptive lighting market is estimated to reach $1.49 billion by 2023. The market is driven by a number of factors such as declining average price of LEDs, technological advancements, and increased vehicle sales volume. High cost associated with smart lighting and fluctuation in the prices of raw materials are some of the major factors which are hampering the overall market growth. However, growth of automotive industry in emerging economies such as India and China also plays an important role, which is expected to boost the market growth in the forecast period.
The automotive lighting market has grown organically and is on a transitional shift from traditional lighting technologies such as halogen and xenon lights to that of LED lighting. On the basis of technology, the automotive lighting market is segmented into halogen, xenon, LEDs, OLED, and laser. The automotive adaptive lighting market by technology is categorized into: halogen, xenon, and LED as the scope for OLED and laser for adaptive lighting is currently low. Halogen light 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 major factors driving the demand for halogen light. 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.
- Hella KGaA Hueck & Co. (Germany)
- Koito Manufacturing Ltd (Japan)
- Magneti Marelli S.p.A (Italy)
- SL Corporation (South Korea)
- Stanley Electric Co. (Japan)
- Valeo Group (France)
- Zizala Lichtsysteme GmbH (Austria)
Key Topics Covered:
1 Research Scope & Methodology
2 Market Dynamics
3 Competitive Insights
4 Industry Analysis
5 Global Automotive Adaptive Lighting Market Analysis and Forecast
6 Global Automotive Adaptive Lighting Market, by Application
7 Global Automotive Adaptive Lighting Market, by Vehicle Type
8 Global Automotive Adaptive Lighting Market by Distribution Channel
9 Global Automotive Adaptive Lighting Market by Geography
10 Company Profile
For more information about this report visit https://www.researchandmarkets.com/research/79ckxt/global_automotive
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SOURCE Research and Markets