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Automotive Intelligent Lighting System Market: LED Technology to Grow at 10.5% CAGR During 2020-2030
Automotive Intelligent Lighting System Market
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Automotive intelligent lighting system refers to two types of automotive lighting products such as the adaptive headlight and intelligent ambient lighting. The intelligent lighting system adapts the vehicle lights to suit the light, road and weather conditions to increase perceptual safety and relieves driver stress. In addition, the adaptive headlamps are the intelligent headlamps that can automatically adjust to suit the driving situation. High beam assist helps to avoid dazzling oncoming drivers. Active curve lights pivot the headlamps into the bend, improving road illumination. Whereas, intelligent ambient lighting are intelligent interior lights mounted around the cabin to enhance the design and visibility within the car for both driver and passenger. In addition, the intelligent ambient lighting systems help in giving drivers a sense of orientation and free space in an uptight cabin as well as these lights can automatically adjust the brightness of lights according the surrounding light.
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By Technology, the automotive intelligent lighting system market is divided into Halogen, LED and Xenon. The LED segment accounted for the highest revenue in 2020 owing to reduced power consumption and longer life span. With rapid technological advancement, smaller, efficient, moisture and vibration resistant LED lights are available in the market. These lights have longer lifetime that can last for decades.
By vehicle type, the automotive intelligent lighting system market is divided into passenger vehicle and commercial vehicle. The passenger vehicle segment accounted for the highest revenue in 2020 owing to the high sale of passenger vehicles as compared with commercial vehicles.
By sales channel, the automotive intelligent lighting system market is divided into OEM and Aftermarket. The OEM segment accounted for the highest revenue in 2020.
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By region, Europe dominates the market presently, followed by North America, Asia-Pacific, and LAMEA. In Europe, Germany dominated the automotive intelligent lighting system market in 2020, and is expected to maintain its dominance during the forecast period. Some of the key factors that drive the market growth include adoption of advanced driver assistance system and rise in concern toward road safety. Moreover, high cost & configuration complexity accompanied with unorganized aftermarket services in developing regions hamper the growth of the market. However, factors, such as increase in integration of advanced technology in vehicle and growth in adoption of autonomous vehicles, create ample opportunities for the growth of the global automotive intelligent lighting system market during the forecast period.
COVID-19 impact analysis:
This COVID-19 pandemic impacted the revenue streams allocated toward R&D and adoption of new technologies
In addition, the spread of the COVID-19 pandemic has negatively impacted the global automotive intelligent lighting system market, owing to commute restrictions and expected weak financial performance of the market players in 2020.
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Key Findings Of The Study
By technology, the LED segment generated the highest revenue in 2020.
By vehicle type, the passenger vehicle segment was the highest revenue contributor in 2020.
By product type, the intelligent ambient lighting segment was the highest revenue contributor in 2020.
By sales channel, OEM segment was the highest revenue contributor in 2020.
By region, Europe contributed the highest revenue, followed by North America, Asia-Pacific, and LAMEA in 2020.
The key players analyzed in the automotive intelligent lighting system market include Continental AG, DE Amertek Corporation, Hella GmbH & Co. KGaA, Hyundai Mobis Co., Ltd., Johnson Electric Holdings Limited, J.W. Speaker Corporation, Marelli Holdings Co., Ltd., Robert Bosch GmbH, Stanley Electric Co., Ltd. and Valeo
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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