Press release
The Rise of Automotive Adaptive Front Lighting Market A $4.2 Billion Industry Dominated by - DE Amertek Corporation, Robert Bosch GmbH, Stanley Electric Co., Ltd.
Automotive Adaptive Front Lighting Market
According to a new report published by Allied Market Research, titled, "Automotive Adaptive Front Lighting Market," The automotive adaptive front lighting market was valued at $1.5 billion in 2021, and is estimated to reach $4.2 billion by 2031, growing at a CAGR of 10.7% from 2022 to 2031.
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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.
The global automotive adaptive front lighting market is segmented on the basis of technology, vehicle type, sales channel, and region. Based on technology, the LED segment held the lion's share in 2021, contributing to more than two-fifths of the market. In addition, the segment is estimated to register the highest CAGR of 11.5% from 2022 to 2031.
On the basis of vehicle type, the passenger cars segment dominated the market in 2021, accounting for more than three-fourths of the market. However, the commercial vehicles segment is expected to portray the highest CAGR of 12.5% during the forecast period.
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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.
Based on sales channel, the aftermarket segment is projected to showcase the highest CAGR of 12.0% during the forecast period. However, the OEM segment held the largest share in 2021, accounting for more than four-fifths of the market.
The global automotive adaptive front lighting market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2021, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is projected to manifest the highest CAGR of 12.2% during the forecast period.
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The global automotive adaptive front lighting market includes an in-depth analysis of the prime market players such as 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.
KEY FINDINGS OF THE STUDY
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.
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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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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