[Latest] Global Automotive Smart Lighting Market Size, Forecast, Analysis & Share Surpass US$ 10 Bn By 2030, At 13% CAGR

Automotive Smart Lighting Market was at US$ 4 Billion in 2021 and is growing to approx US$ 10 Billion by 2030, with a CAGR growth of 13% between 2022 and 2030.

AUSTIN, TEXAS, UNITED STATES, March 28, 2023 /EINPresswire.com/ -- According to the study, The Global Automotive Smart Lighting Market was estimated at USD 4 Billion in 2021 and is anticipated to reach around USD 10 Billion by 2030, growing at a CAGR of roughly 13% between 2022 and 2030.

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Automotive Smart Lighting Market: Overview

The sides, front, rear, and, sometimes, the top of a motor vehicle have lighting and signalling systems installed or built into them. They boost the vehicle’s visibility so that other motorists and pedestrians may notice its presence, position, size, the direction of travel, and driver intentions. They also illuminate the road ahead for the driver.

Automotive Smart Lighting Market: Growth Drivers

Intelligent automotive lighting controls low-beam headlight units by the vehicle speed and steering angle to increase visibility while cornering at night. With the introduction of bright automotive lighting, a vehicle has become safer since it helps the driver in cases of low vision in extreme weather by optimizing light distribution by necessity.

A feature of advanced driver assistance systems, bright automotive lighting modifies the vehicle’s lighting pattern when travelling on a curving route to account for the road’s curvature and improve nighttime visibility. This is anticipated to increase demand for car intelligent lighting during the forecast period.

The rise in road deaths caused by poor night vision, along with increased support from governments worldwide through stricter safety laws, is predicted to propel the automotive intelligent lighting market throughout the forecast period.

The automotive bright lighting market is highly hampered due to the high cost of LED lights. The previous technologies, such as halogen and Xenon/HID, have lost favour in favour of new ones. Halogen lights have the significant drawback of heating up and wasting energy, whilst Xenon lights are more complicated and take longer to reach full brightness. On the other hand, the LED is small and very flexible for many shapes and designs. However, because LED is more expensive than other technologies, it is only used in high-end or luxury vehicles. The high production costs of LEDs are to blame for their high price. The global market for intelligent automobile lighting is hampered by these concerns.

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Key Insights:

A) As per the analysis shared by our research analyst, the Automotive Smart Lighting market is estimated to grow annually at a CAGR of around 13% over the forecast period (2022-2030).
B) In terms of revenue, the Automotive Smart Lighting market size was valued at around USD 4 Billion in 2021 and is projected to reach USD 10 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on vehicle type segmentation, the passenger cars segment was estimated to hold the maximum market share in 2021.
D) By application segmentation, the interior segment is projected to witness a high CAGR from 2022 to 2030.
E) The LED segment was estimated to hold the maximum market share by technology in 2021.
F) Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Press Release For Automotive Smart Lighting Market : https://www.custommarketinsights.com/press-releases/automotive-smart-lighting-market-size/

Regional Landscape

The European automobile industry places a greater emphasis on component research and development than in other regions, which results in a higher rate of technology adoption in the area. In addition, the region’s market for bright automotive lighting is projected to grow because of the increased penetration of premium and luxury vehicles in various nations, including Germany and the U.K.

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Key Players

Automotive Lighting LLC
Koito Manufacturing Co. Ltd.
Lumileds Holding B.V.
OSRAM Continental GmbH
SL Corporation
Robert Bosch GmbH
HELLA GmbH & Co. KGaA
Varroc Group
Tungsram
Valeo SA

The Automotive Smart Lighting Market is segmented as follows:

By Vehicle Type

Passenger Cars
Commercial Vehicles

By Technology

LED
Halogen
Xenon
Other Technologies

By Application

Exterior
Interior

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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