Press release
Automotive Adaptive Front Lighting Market : 10.7% CAGR Driving Growth to $4.2 Billion by 2031
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐๐ฉ๐ญ๐ข๐ฏ๐ ๐ ๐ซ๐จ๐ง๐ญ ๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ, ๐๐๐๐-๐๐๐๐:
The global automotive adaptive front lighting market was valued at $1.5 billion in 2021, and is projected to reach $4.2 billion by 2031, growing at a CAGR of 10.7% from 2022 to 2031.
Europe is expected to dominate the global market in 2021 owing to presence of leading automotive lighting companies and OEM in the region. Factors such as presence of leading players, increase in sales of luxury cars, and demand for technological advancements in front lighting are anticipated to propel the growth of the market. The commercial vehicles segment is expected to witness higher growth on account of factors such as, enhanced safety and increasing penetration of intelligent lighting systems.
๐๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/A10326
Factors, such as adoption of Advanced Driver Assistance System (ADAS) and rise in concern toward road safety supplements the growth of the global automotive adaptive front lighting market. Moreover, high cost & configuration complexity accompanied with unorganized aftermarket services in developing regions hamper the growth of the market. However, factors, such as increase integration of advanced technology in vehicle and surge in adoption of autonomous vehicles, create ample opportunities for the growth of the global market during the forecast period.
Increasing demand for autonomous and semi-autonomous vehicles, technological advancements in automotive lighting, increasing production and sales of electric cars globally, accelerating urbanization, and expansion of auto-manufactures into emerging markets are some factors that are expected to aid the automotive adaptive front lighting market in the near future.
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
The spread of the COVID-19 pandemic has negatively impacted the automotive adaptive front lighting market owing to commute restrictions and logistical challenges leading to supply chain disruptions and delay in product development.
The major risk factors of the market participants are supply chain execution, regulatory & policy changes, dependency on labor, working capital management, and liquidity & solvency management. Majority of the manufacturing facilities of intelligent lighting products has been shut down during the pandemic due to commute restrictions, workforce unavailability, and short supply of raw material due to supply chain disturbance.
The sale of adaptive front lighting is directly associated with automotive production and sales activities across the globe. Production loss is anticipated to increase if the lockdown in countries is extended. The global automotive production has witnessed decline by 16% in 2020 as compared to automotive production in 2019. Moreover, the global sales of automotive has witnessed drop by around 14% (Y-o-Y) from 90.42 million units in 2019 to 77.97 million units in 2020. The demand for automobiles experienced a decline in all parts of the world, owing to surge in quarantine measures and increase in COVID-19 cases across the world. Moreover, sales in North America, Europe, and Asia-Pacific & Middle East has witnessed a drop by around 17%, 20%, and 8%, respectively, in 2020. Thus, changes in production and sales activities of the automotive industry are expected to influence the overall demand in the near future.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/automotive-adaptive-front-lighting-market/purchase-options
Although, the automotive market has struggled due to the pandemic, the automotive intelligent lighting system market size has the high scope of growing opportunities in future due to factors such as the rising demand in autonomous and semi-autonomous vehicles, technological advancement in automotive lighting, and growing for automobile safety features from consumer-end expected to help in aiding of automotive adaptive front lighting market.
Moreover, despite the decrease in sales number of luxury cars in 2020, the automotive adaptive front lighting market is expected to recover due to continuous developments and high competitiveness among the players for autonomous driving technology. For instance, leading automotive companies such as Toyota Motor and Ford Motor, have claimed the top two positions on the list of most competitive firms in terms of patents related to autonomous driving technology. In addition, both companies have overtaken Waymo, the autonomous car company owned by Alphabet in the global race to develop self-driving technology as indicated by new patent data.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ :
By technology, the LED segment is anticipated to exhibit significant growth in the near future.
By vehicle type, the commercial vehicles segment is anticipated to exhibit significant growth in the near future.
By sales channel, the aftermarket segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A10326
Key players operating in the global automotive adaptive front lighting market include Continental AG, DE Amertek Corporation, Hella KGaA Hueck & Co., 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.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Automotive Air Filters Market
https://www.alliedmarketresearch.com/automotive-air-filters-market-A13811
Automotive Relay Market
https://www.alliedmarketresearch.com/automotive-relay-market
Electric Scooter and Motorcycle Market
https://www.alliedmarketresearch.com/electric-scooter-and-motorcycle-market-A12724
Automotive Adaptive Front Lighting Market
https://www.alliedmarketresearch.com/automotive-adaptive-front-lighting-market-A10326
Lane Keep Assist System Market
https://www.alliedmarketresearch.com/lane-keep-assist-system-market-A11963
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
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Web: www.alliedmarketresearch.com
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๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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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