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Automotive Smart Headlight Market to Grow at a Robust CAGR of 11.7% during 2019-2026
Automotive Smart Headlight Market - GMI Research
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Advancements in the headlight's technology are expected to reduce the average selling price in the future, thus making the smart headlights suitable for entry-level and medium-range luxury cars. Automotive smart headlights provide optimum visibility with high beam assistance, intelligent blind-spot intervention, and lane departure warning. These highlights minimize the possibility of road accidents with its angled lights filling the blind spot feature.
Improved illumination, increased road safety coupled with OEM's focus on making the driving experience better and safer are some of the factors leading to the increasing adoption of automotive smart headlights as compared to the traditional automotive headlights in premium cars.
The introduction of semi-autonomous cars, which relies on cutting edge technologies such as cloud computing and powerful AI along with the front visibility cameras, lights, and sensors, will have a positive impact on the demand of automotive smart headlights. Technological advancements in the automotive smart headlights led by increasing R&D activities will create new opportunities in the market, which in turn, will drive the demand of automotive smart headlights. For instance, Osram GmbH is planning to launch "hybrid LED Eviyos" for car headlight in 2020, the world's first hybrid LED, with more than 1000 pixels which are individually controlled.
Based on the Product Type, the Global Automotive Smart Headlight market is segmented Matrix LED, Pixel LED, and Pixel LED Laser. The Pixel LED is anticipated to lead the market during the forecast period owing to the increasing adoption of Pixel LED driven by its luminance intensity of laser, which increases the efficiency of the optical system and reduces energy consumption. The Pixel LED offers remarkable benefits such as optimum visibility, providing increased visual range, and lower power consumption.
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Based on the Vehicle Type, the car segment is expected to grow at a higher CAGR during the forecast period due to the increasing demand for premium features in luxury cars among the end-users. These factors are encouraging the adoption of automotive smart headlights in the car segment.
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Based on the region, Europe is anticipated to lead the market during the forecast period owing to the large presence of premium automobile manufacturers present in the region and the growing consumer awareness regarding the road safety measures. North America is expected to grow at a higher CAGR during the forecast period due to the amendment in the policies by the U.S government which is promoting the usage of smart headlights.
The Global Automotive Smart Headlight Market has been segmented based on product, vehicle type, and key geographies. Based on the product, the Global Automotive Smart Headlight market has been segmented into Matrix LED, Pixel LED, and Pixel Laser LED. Based on the vehicle type, the market has been segmented into Cars, Trucks, and Motorcycles.
Various notable players operating in the market include HELLA GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., ICHIKOH Industries Ltd., ZKW Group GmbH, Huayu Vision Technology Co. Ltd. and Osram GmbH among others.
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GMI Research leverages its industry expertise and experience to identify the industry trends, big opportunities and potential growth areas across industries. Our Syndicated reports provide actionable insights and covers industry trends, market drivers & restraints, macroeconomic factors, market estimates & forecasts, competitive landscape etc. which helps our clients to strengthen its market position by deploying specific strategies and actions that will lead to higher growth.
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