Automotive Intelligent Lighting System Market

Automotive Intelligent Lighting System Market Statistics 2030 -

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 COVID-19 pandemic proved quite detrimental for the automotive sector. It had a sudden impact on the global unified automotive industry. Indications include the interruption in export of Chinese automotive parts, huge manufacturing disruptions across Europe, and the shutting down of assembly plants in the U.S. This is placing an extreme pressure on an industry that is already managing a downshift in the global demand. This impacted the revenue streams allocated towards the R&D and adoption of new technologies like automotive intelligent lighting system. However, with the growing vaccination numbers globally, the pandemic’s impact on the automotive industry is expected to come down gradually. Post pandemic the automotive intelligent lighting system market is foreseen to grow appreciably.

Automotive intelligent lighting system refers to two types of automotive lighting products such as the adaptive headlight and intelligent ambient lighting. The intelligent lighting system acclimates the vehicle lights to suit the light, weather, and road circumstances to increase perceptual safety and relieves driver stress. In addition, the adaptive headlamps are the intelligent headlamps that can automatically adjust to suit the driving situation. High Beam Assist helps to avoid dazzling oncoming drivers. Active curve lights pivot the headlamps into the bend, improving road illumination. Whereas, intelligent ambient lighting are intelligent interior lights mounted around the cabin to enhance the design and visibility within the car for both driver and passenger. In addition, the intelligent ambient lighting systems help in giving drivers a sense of orientation and free space in an uptight cabin as well as these lights can automatically adjust the brightness of lights according the surrounding light.  

The spread of the COVID-19 pandemic has negatively impacted the global automotive intelligent lighting system market, owing to commute restrictions and expected weak financial performance of the market players in 2020. The economic impact of the pandemic is visible with organizations preparing strategic cost-saving plans. Organizations with vehicle assets are considering sale and leaseback options to improve cash flow. The major risk factors of the automotive intelligent lighting system market participants are supply chain execution, regulatory & policy changes, dependency on labor, working capital management, and liquidity & solvency management. Automotive intelligent lighting system is a high-end technological solution dealing with intense capital investment for the end users. The sale of intelligent lighting system is directly associated with automotive production and sales activities across the globe. 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. 

Although the automotive market has struggled due to the pandemic, the automotive intelligent lighting system market has the high scope of growing opportunities in future due to factors such as rise in demand in autonomous and semi-autonomous vehicles, technological advancement in automotive lighting, and rise in need for automobile safety features from consumer-end. Moreover, despite the decrease in sales of number of luxury cars in 2020, the automotive intelligent lighting system market is expected to recover due to continuous development and high competitiveness among the players for autonomous driving technology. For instance, leading automotive companies such as Toyota Motor and Ford Motor has claimed the top two positions on the list of most competitive firms in terms of patents related to autonomous driving technology. In addition, the 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.
Also, increase in demand for autonomous and semi-autonomous vehicles, technological advancements in automotive lighting, surge in production and sales of electric cars globally, development in urbanization leading to growth of automotive industry and expansion of auto-manufactures into emerging markets are some factors that likely to boost the growth of the automotive intelligent lighting system market in the near future.

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. 

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.

Adoption of Advanced Driver Assistance System

Automotive intelligent lighting is a part of advanced driver assistance system which changes the vehicle lighting pattern during a drive on a turning road to compensate for the road curvature and enhance the night visibility. In addition, in bad weather conditions, the intelligent lighting of ADAS plays a vital role as it provides enhanced visibility while driving in bad visibility conditions. Moreover, factors such as adoption autonomous and semi-autonomous vehicles, high demand for safety features, and increased requirement for comfort drives the growth of advanced driver assistance system that directly compliments the growth of automotive intelligent lighting system market. 

Rise in Concern toward Road Safety

The demand for safety features along with intelligent lighting system has increased due to surge in number of road accidents around the world. Vehicles with adaptive and intelligent lightings can detect threats on the path; thereby, allowing the vehicle driver to take appropriate required actions. Rise in concern regarding road accidents globally, fuels the demand for better safety features in vehicles eventually leading to incorporation of intelligent lighting systems, which supports the growth of the market. Intelligent lights are primarily installed to enhance the visibility in curve roads and improve the vehicles conspicuity in critical conditions. Further, As per World Health Organization’s published data in June 2021, nearly 1.3 million people die in road traffic accidents each year that comprises a significant portion owing to improper lighting system in vehicle. These factors boost the demand for adaptive and intelligent lighting system in vehicles. Therefore, increase in concern toward road safety drives the growth of the automotive intelligent lighting system market.

Key Benefits For Stakeholders

• This study presents analytical depiction of the automotive intelligent lighting system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
• The current automotive intelligent lighting system market size is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive intelligent lighting system industry.

 Automotive Intelligent Lighting System Market Report Highlights