Global Automotive Adaptive Lighting Market Overview
Adaptive lighting technology is the latest and fastest growing technology in automobile sector across the globe. Automotive Adaptive lighting systems of mainly work with the help of sensors that transmits the signals to the lighting systems at the time of turning of vehicle.
These lighting systems are work upon the principle of sensing the movement of the object. As the vehicle turns right, the sensors installed in the lighting system transmit a message to the lights and enables the headlamps to shift right for clear vision to the driver. The existing static front lighting systems provide illumination straight onto the surface of road/ground without any sensitivity to curves or steering control. This creates complexity for the driver to in the night to take sharp turns. Thus, adaptive lighting systems are introduced for automotive.
Market size and forecast
Riding on the on the back of increasing sales of high-end luxury cars, the global automotive adaptive lighting market is expected to expand at a CAGR of 10.2% over the forecast period i.e. 2016-2023. Further, the global market is estimated to derive the sales of 152.5 Million units of automotive adaptive lighting by 2023 projecting the market to reach USD 2.95 Billion by 2023. At present, Europe is the biggest consumer of automotive adaptive lighting followed by Asia-Pacific. However, with a better growth rate in automotive industry, Asia-Pacific is projected to surpass Europe automotive lighting demand by 2023. Regionally, Asia-Pacific and Europe collectively is expected to contribute the largest market share during the forecast period i.e. 2016-2023. Moreover, Asia-Pacific region is projected to register a CAGR of 8.2% over the forecast period i.e. 2016-2023 and it is expected to account the largest market share in terms of revenue of 45.5% by 2023 followed by Europe. Rising economy and positive growth in automobile industry in both the regions is directly helping the growth of automotive adaptive lighting market. The strict regulations from the governmental authorities to install sufficient safety features in vehicles to reduce road accidents is driving the market of automotive adaptive lighting market across the globe. The LED technology lighting segment is estimated to expand at a CAGR of 12.3% over the forecast period. This segment is rising on the back of ease of availability, low cost of these lighting systems and low replacement costs.
Moreover, manufacturers of automotive adaptive lighting systems are focusing towards the advancement in lighting systems to enhance the driving in night. These adaptive lighting systems are helpful for light & heavy commercial vehicles, as they are mainly used for logistics and transport. These vehicles are used to carry products and consignments in night due to stringent government regulation to reduce the traffic congestion in daytime.
Our in-depth analysis segmented the global automotive adaptive lighting market in the following segments:
Global Automotive Adaptive Lighting Market is further classified on the basis of region as follows:
Growth Drivers and challenges
The market of automotive adaptive lighting is majorly driven on the back of rapid growth in automobile industry across the globe. Moreover, the advancements in automotive lighting technology that is much more efficient than the conventional ways and paving the way for automotive adaptive lighting market. Emergence of automobile industries and introduction of stringent government regulations to install advanced safety feature in passenger and commercial vehicles are the key factors which are swelling the demand for automotive adaptive lighting in various European and American countries. These lighting systems also have the property to adapt lighting conditions, on the basis of these additional properties these lighting systems are gaining traction among the manufacturers of automobiles. Likewise, the manufacturers of automobiles are shifting towards the adoption of advanced and energy efficient lighting technology such as LED technology. This will further spur the market of automotive adaptive lighting market in near future.
The automotive adaptive lighting is gaining momentum with the increasing commercial and heavy-duty vehicles. Rapid urbanization and expanding transportation and logistics sector across the globe are increasing the number of heavy duty vehicles. These vehicles operate in night time due to stringent government regulations and restricted entry in cities during day time to reduce the traffic congestion. Further, heavy-duty vehicle manufacturers are adopting this technology on account of rising concern towards road safety.
Conversely, installing adaptive lighting systems in vehicles increases the overall cost of these vehicles which creates a major challenge for this industry. Moreover, high cost of automotive adaptive lighting and availability of sub-standardized lighting systems are expected to hamper the growth of automotive adaptive lighting market.
The key players of automotive adaptive lighting market are as follows:
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