Press release
The Automotive Intelligent Lighting System Market Reach USD 9.25 Billion Globally by 2030 at 9.8% CAGR
Growing adoption of advanced driver assistance system and rising concern toward road safety drive the growth of the global automotive intelligent lighting system market. On the other hand, high cost & configuration complexities and unorganized aftermarket services restrain the growth to some extent. However, integration of advanced technologies in vehicles is expected to create lucrative opportunities in the industry.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 278 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A13970
The global automotive intelligent lighting system market was valued at $3,652.4 million in 2020, and is projected to reach $9,254.5 million by 2030, registering a CAGR of 9.8% from 2021 to 2030.
The automotive intelligent lighting system market is segmented into technology, vehicle type, product type, sales channel, and region. By technology, the global market is divided into halogen, LED, and Xenon. By vehicle type, it is bifurcated into passenger vehicle and commercial vehicle. By product type, it is classified into adaptive headlight and intelligent ambient lighting. By sales channel, the global market is segmented into OEM and aftermarket. By region, the global market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐๐ญ : https://www.alliedmarketresearch.com/automotive-intelligent-lighting-system-market-A13970
Based on vehicle type, the passenger vehicle segment held the major share in 2020, accounting for nearly four-fifths of the global automotive intelligent lighting system market, owing to the relatively higher installation of automotive intelligent lighting system in passenger cars. At the same time, the commercial vehicle segment would register the fastest CAGR of 11.5% from 2021 to 2030, due to growing integration of automotive intelligent lighting system in commercial vehicles.
The LED segment to maintain the dominant share-
Based on solution type, the LED segment contributed to more than two-fifths of the global automotive intelligent lighting system market revenue in 2020, and is projected to lead the trail throughout the forecast period. This is attributed to its longer life span and significantly less power consumption capability. The same segment is also projected to grow at the fastest CAGR of 10.5% from 2021 to 2030.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/A13970
Based on region, the market across Europe, followed by North America, contributed to the highest share in 2020, accounting for nearly two-fifths of the global automotive intelligent lighting system market, and is estimated to continue its dominant share in terms of revenue by 2030, owing to increasing sales of luxury cars, growing demand for technological advancements, and the presence of leading players in the region. Simultaneously, Asia-Pacific is expected to showcase the fastest CAGR of 12.9% during the forecast period, due to growing need for vehicles equipped with advanced features across the province, due to increase in sales of premium passenger vehicles across the province.
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.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A13970
COVID-19 Scenario-
โ Huge commute restrictions and expected weak financial performance of the market players in 2020 impacted the global automotive intelligent lighting system market negatively, especially during the initial phase.
โ However, the market is expected to recover soon due to high competitiveness among the key players for autonomous driving technology.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (278 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/automotive-intelligent-lighting-system-market/purchase-options
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