Global Automotive Smart Lighting Market Report 2023: Increasing Road Safety Concerns Drives Growth

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May 19, 2023, 17:15 ET

DUBLIN, May 19, 2023 /PRNewswire/ -- The "Automotive Smart Lighting Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Vehicle Type, By Propulsion Type, By Application, By Technology, By Region, Competition" report has been added to ResearchAndMarkets.com's offering.

The global automotive smart lighting market is projected to grow at an impressive rate through 2028.

Companies Mentioned

Hella GmbH & Co. KGaA
Stanley Electric Co., Ltd.
Hyundai Mobis
Valeo Group
ZIZALA Lichtsysteme GmbH
Koninklijke Philips N.V.
General Electric Company
Denso Corporation
Robert Bosch GmbH
Magneti Marelli SpA

There are lighting and signaling systems mounted to or embedded into vehicles that increase the vehicle's visibility and efficiency in consuming energy so that other cars and pedestrians can see it and identify its direction of travel. Automotive smart lighting is installed in the front, back, sides, and, in some circumstances, the top of a motor vehicle.

Considering smart lighting uses less power along with a higher lifespan, unlike the traditional lighting used in vehicles. Many automakers are expressing a long-term interest in installing them into their vehicles. Vehicle headlights are the principal application, hence have emerged as the focus of vehicle manufacturers for investments in the deployment of new lighting technology and solutions. OEMs are developing cars with adaptable headlights to ensure night-time driving safety. The demand for high-end vehicles with intelligent lighting has increased.

Alongside, technologies like automatic high beams, active headlights, and gesture-controlled interior lighting in luxury vehicles promote demand for smart lighting. Automotive smart lighting research and development is primarily driven by variables like the adoption and sales of electric vehicles. The goal is to adopt competitive technology from current and prospective vehicles while extending the range of electric drives.

Furthermore, this anticipates the scenario that would persist in the future. Multiple companies develop and integrate a wide range of solutions for external automotive lighting systems as well as enhance sensors to brace future ADAS/AD features, including LiDAR-sensor technology. The BMW i8 Coupe uses a laser automotive lighting system over halogen LED. OLEDs can be used in interior and exterior lighting.

The global COVID-19 pandemic has disturbed the economy and public health of many countries. Due to lockdowns enforced across several nations to control the risk of transmission of the novel coronavirus, the majority of manufacturers were obliged to halt their manufacturing units due to supply chain disruption in the automobile industry for a major period of time. Due to weaker economic growth, the automobile industry declined in 2020 and 2021. On the contrary, the increasing trend towards zero-emission vehicles gives a boost to the electric vehicle industry, increasing the automotive smart lighting market.

Increasing Demand for Electric Vehicles

The popularity of electric vehicles for personal transportation has risen over the year as the technology in high-capacity batteries continuously evolves, which further raises demand for the automotive smart lighting market size. According to IEA global electric vehicle outlook, sales of electric cars (including BEV & PHEV) doubled in 2021 to a total of 6.6 million, with a constant increase each week.

China accounted for more than 3.3 million sales in 2021 which is around 3 times the sales in 2020. Moreover, this results in increasing demand for the automotive smart lighting market. Many companies are investing in smart lighting to increase their efficiency and reduce power consumption to keep a wider range of vehicles.

Developing Advanced Technology in Smart Lighting

Halogen technology has held a significant revenue share in recent years and is anticipated to experience growth over the following years. A few elements that contribute to the segment's growth are the easy availability of halogen lights and their low replacement and acquisition costs.

They are a preferred option for consumers because they are readily available, inexpensive, and come in a variety of sizes. Luxury vehicle manufacturers are investing in research & development to innovate with laser light technology, bend lighting headlamps with LED technology, flexible OLED for vehicle lighting, etc., adding further to the demand for smart lighting industry growth.

Increasing Road Safety Concerns

Transportation authorities are attempting to make innovative automotive lighting systems essential for cars to reduce the number of accidents in the world. Several manufacturers are investing in improving the efficiency and technology of their interior and exterior lighting systems. Such advancements are the major driving force in the automotive smart lighting industry and its growth.

Report Scope:

In this report, global Automotive Smart Lighting Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Global Automotive Smart Lighting Market, By Vehicle Type:

Passenger Car
Light Commercial Vehicle
Medium & Heavy Commercial Vehicle

Global Automotive Smart Lighting Market, By Propulsion Type:

ICE Vehicles
Electric Vehicle

Global Automotive Smart Lighting Market, By Application:

Interior Lighting
Exterior Lighting

Global Automotive Smart Lighting Market, By Technology:

Halogen
Xenon
LED
Other Technologies

Global Automotive Smart Lighting Market, By Region:

North America
United States
Canada
Mexico
Europe & CIS
Germany
Russia
France
Spain
Italy
United Kingdom
Poland
Netherland
Norway
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Indonesia
Thailand
Middle East and Africa
South Africa
Saudi Arabia
United Arab Emirates
South America
Argentina
Brazil
Colombia

For more information about this report visit https://www.researchandmarkets.com/r/dre8on

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