Home » LED News, Trends, Applications » Automotive adaptive lighting market to grow at CAGR of 13% till 2023

Automotive adaptive lighting market to grow at CAGR of 13% till 2023

Automotive adaptive lighting market to grow at CAGR of 13% till 2023

Jan 25, 2018: According to the “Global Automotive Adaptive Lighting Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 – 2023” report by Research and Markets, the adaptive lighting market has increased the safety through providing automatic settings for downlight and headlight. The demand for car adaptive lighting is expanding altogether attributable to various elements, for example, escalating vehicle sale volume and strict government regulations. The automotive adaptive lighting market has developed widely and is on the shift from conventional lighting systems that cover halogen, xenon and others.

LED lighting sources are energy efficient that are backed up by the government regulations of emissions. The rapid decrease in LED costs is likewise reassuring the automakers for the improvement of LEDs for various applications in vehicles, for example, inside/surrounding lighting. The market is evaluated to witness development at a CAGR of 13% during the forecast period.

The global automotive adaptive lighting system has been divided into technology, application, vehicle type and distribution channel. The technology segment has been sub divided into xenon, halogen and LED. Halogen sector was the dominating segment in the market of automotive adaptive lighting. The main offering of halogen lights are they provide more illumination and are more cost effective as compared to xenon. The halogen market is expected to continue its dominance over the forecast period.

LED segment is anticipated to be the fastest growing segment during the forecast period. Low energy consumption, declining average price and durability are the major driving elements of LED market. The second segment which is the application segment has been further bifurcated into interior, front and rear. Passenger cars and commercial vehicles are the sub segments of vehicle type. Whereas, the distribution channel has been further bifurcated into OEM and aftermarket.

Heavy investment in research and development of lighting systems is the major restraint for the market. The challenge also comes in implementation and assemblage of the system as it is highly complex, thus hindering the growth of this market. The major opportunities include wide ranging need in emerging economies and shift towards a better and reliable automotive lighting system.

Europe is the dominating region in this market. The major reason behind this is the need of safety against crashes due to reduced visibility especially at the time of night on highways. Advanced automotive lighting systems, strict automotive regulations and norms, substantial advancement in driver assistance system and safety are the other factors which are propelling the market in this region.

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