Automotive Exterior Smart Lighting Market Application, Status and Future Forecast
Added: (Fri Jun 23 2023)
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Automotive Exterior Smart Lighting Market
According to Vertex Business Insights, the market for Automotive Exterior Smart Lighting Market was estimated to be worth USD 1.1 billion in 2021. A compound annual growth rate (CAGR) of 6.00% is anticipated for the automobile exterior smart lighting market, taking it from USD 1.17 billion in 2022 to USD 1.86 billion by 2030.
The primary market factors fostering market expansion are strict government rules regarding vehicle security and rapid technical progress in the automobile industry in emerging nations.
Automotive exterior smart lighting is the term used to describe cutting-edge lighting systems that are put on the outside of vehicles and contain intelligent and smart components. The purpose of these lighting systems is to improve the vehicle's functionality, safety, and appearance.
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Market Dynamics of Automotive Exterior Smart Lighting Market
Various factors, including as technology breakthroughs, governmental laws, consumer preferences, and industry trends, have an impact on the market dynamics of the car exterior smart lighting market.
Technological Advancements: Rapid advancements in LED technology, sensor technology, and control systems have significantly contributed to the growth of the automotive exterior smart lighting market. Manufacturers are continuously developing innovative lighting solutions that offer improved functionality, energy efficiency, and design flexibility.
Safety and Regulations: Increasing emphasis on vehicle safety and regulations mandating the use of certain lighting technologies have driven the adoption of smart lighting systems. For example, regulations requiring the use of daytime running lights (DRLs) have propelled the demand for smart DRLs in many countries. Additionally, advanced lighting systems such as adaptive headlights and matrix lighting are gaining popularity due to their ability to enhance visibility and safety on the roads.
Aesthetics and Customization: Consumers are increasingly demanding vehicles with unique aesthetics and personalized features. Automotive exterior smart lighting allows for customization options, such as color variations, dynamic lighting patterns, and illuminated logos, which cater to these consumer preferences. This trend has led to an increased focus on lighting design and aesthetics among automakers.
Electric and Autonomous Vehicles: The rising adoption of electric vehicles (EVs) and autonomous vehicles (AVs) is expected to have a significant impact on the automotive exterior smart lighting market. EVs require energy-efficient lighting systems to optimize battery usage, while AVs may leverage lighting to communicate with pedestrians and other road users. These emerging vehicle trends present opportunities for smart lighting solutions tailored to their specific requirements.
Industry Collaboration and Partnerships: Automotive lighting manufacturers are increasingly collaborating with technology companies, semiconductor manufacturers, and automotive OEMs to develop integrated smart lighting solutions. Partnerships enable the combination of lighting technologies with sensors, connectivity, and artificial intelligence, facilitating the development of more advanced and intelligent lighting systems.
Regional Market Variations: Market dynamics can vary across regions due to differences in regulations, consumer preferences, and infrastructure. For instance, regions with stringent safety regulations and a higher consumer focus on aesthetics and technology adoption tend to have a greater demand for automotive exterior smart lighting.
Competitive Landscape: The market is highly competitive, with several established players and new entrants vying for market share. Key players in the automotive lighting industry are investing in research and development to introduce innovative smart lighting solutions and gain a competitive edge.
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Market Segmentation of Automotive Exterior Smart Lighting Market
Advanced automotive lighting applications are now possible because to LED technology, which has developed to offer tiny form factors, higher power levels, longer lifetimes, and lower power usage. Our roadways are safer to drive on because to intelligent LED applications like Glare Free High Beam, Adaptive Driving Beam, Dynamic Signalling, and Rear Lighting.
Technology used in Automotive Exterior Smart Lighting Market:-
• LED Lighting: LED technology is widely used in automotive lighting due to its energy efficiency, durability, and versatility. This segment includes LED headlights, taillights, DRLs, and other LED-based exterior lighting components.
• OLED Lighting: Organic light-emitting diode (OLED) technology is gaining traction in automotive lighting. OLEDs offer thin, flexible, and customizable lighting solutions, enabling unique design possibilities.
• Laser Lighting: Laser-based lighting systems are emerging as a futuristic technology for automotive lighting. Laser headlights offer high brightness, long-range illumination, and precise lighting control.
Functionality of Automotive Exterior Smart Lighting:-
• Adaptive Lighting: Systems that dynamically adjust the direction, intensity, or pattern of the headlights based on factors such as road conditions, weather, and traffic situations.
• Matrix Lighting: Lighting systems that utilize an array of individually controllable LED segments to provide advanced lighting functionalities such as selective high-beam control and enhanced visibility.
• Signaling and Communication: Lighting systems that incorporate signaling features, such as sequential turn signals, projection of warning symbols on the road surface, or lighting patterns for communication with pedestrians or other drivers.
Automotive Exterior Smart Lighting designed for various vehicle types:-
• Passenger Cars: Lighting systems designed for conventional passenger cars.
• Commercial Vehicles: Lighting systems tailored for commercial vehicles such as trucks, buses, and vans.
• Electric Vehicles (EVs): Lighting systems specifically developed for electric vehicles, considering their unique requirements such as energy efficiency and optimized battery usage.
• Autonomous Vehicles (AVs): Lighting systems designed for autonomous vehicles, focusing on communication with pedestrians and other road users.
Important market participants for Automotive Exterior Smart Lighting
Several major companies are actively involved in the development and delivery of smart lighting systems for automobiles in the automotive exterior smart lighting industry. Our market analysis includes a section specifically devoted to such large firms, where our analysts give an overview of each player's financial statements, along with product benchmarking and SWOT analysis.
• Osram GmbH
• Hella KGaA Hueck & Co.
• Valeo SA
• Koito Manufacturing Co., Ltd.
• Magneti Marelli (now Calsonic Kansei Corporation)
• Stanley Electric Co., Ltd.
• ZKW Group
• Flex Ltd. (formerly Flextronics)
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