Market Overview
Market Research Future (MRFR) in its new research study, asserts that the Global Automotive Intelligent Lighting System Market is booming and expected to grow exponentially over the review period, recording a substantial market valuation and a healthy 7.0% CAGR in the forecast period of 2017 to 2023.
The advancement in technologies and demands for the latest automotive features boosts the automotive intelligent lighting system market. These systems work on artificial intelligence grounds, including automatic on and off lights and adapting to the surrounding conditions. As the automotive sector expands and spending capacities are increasing, the demand for advanced features powers the comfort levels. The increasing emphasis on enhancing the driver's and pedestrian's safety has boosted the demands for such technologies.
An intelligent lighting system improves driving behaviors and experiences like adjusting the lighting focus and direction with the steering wheel's movement and others. This system is a part of an advanced driver assistance system (ADAS) which adapts to the driving and surrounding conditions. On observing the benefits of automotive intelligent lighting systems, the authorities are making them compulsory in all vehicle segments to ensure drivers' safety from accidents in adverse conditions like low visibility, night driving, fog, and others.
Top Companies profiled in Automotive Intelligent Lighting System Market Research Report:
Hella KGaA Hueck & Co. (Germany), Magneti Marelli S.p.A. (Italy), Osram Continental GmbH (Germany), ELBA SA (Romania), Teknoware Oy (Finland), KOITO MANUFACTURING CO., LTD. (Japan), Grupo Antolin (Spain), HYUNDAI MOBIS (Korea), ICHIKOH INDUSTRIES, LTD. (Japan), and STANLEY ELECTRIC CO., LTD. (Japan).
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Market Breakdown
The global automotive intelligent lighting system market is segmented into several categories mentioned below:
- The global automotive intelligent lighting system market is segmented into xenon, halogen, and light-emitting diode (LED) lighting based on technology.
- The global automotive intelligent lighting system market is categorized into the interior and exterior lighting based on technology.
- Based on products, the automotive intelligent lighting system market is categorized into adaptive and intelligent ambient lighting.
- The global automotive intelligent lighting system market is divided among passenger and commercial vehicles based on vehicle categories.
Regional Classification
The automotive intelligent lighting system has gained global adoption worldwide due to the demands for better road safety measures and expansion of the automotive industry. For the global Automotive intelligent lighting system market, the Asia Pacific, North America, Europe, and the rest of the world are the major regions observed. Currently, the North American region is leading the market due to demands for advanced technologies, key market players, well-established automotive industry, emphasis and demands for better safety-equipped vehicles, and other factors.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Automotive intelligent lighting system Market Segmentation
- Automotive intelligent lighting system Market Landscape
Continued…
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The global Automotive Intelligent Lighting System Market is anticipated to register a CAGR of 7% during the forecast period (2018-2023), Market Research Future (MRFR) reveals in a detailed report.
Automotive intelligent system is an upcoming technology and is the basis of the much awaited autonomous vehicles.Market Potential and PitfallsThe automotive intelligent lighting system market has witnessed a tectonic surge over the past few years due to the current boom in the automotive industry.
This is anticipated to play a major role in the growth of the market in the foreseeable future.Intelligent lighting system is one of the recent developments in the automotive sector.
This further facilitates the pedestrians and the drivers to spot each other, thus reducing the chances of mishaps.
Such factors are likely to influence the growth of the market across the globe.On the contrary, high manufacturing and installation cost of intelligent lighting systems in vehicles have retarded the market growth across the globe.
Thus, there is less adoption of these lights in India, the region being a cost-sensitive marketplace.
