Automotive Adaptive Lighting Market to Cross USD 3.55 Billion By 2023

Renowned global research firm, Credence Research recently published a report named “Automotive Adaptive Lighting Market (Technology – Halogen, LED and Xenon; Vehicle Class – Passenger Vehicles, LCV and HCV) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”, which predicts that the global automotive adaptive lighting market will cross the USD 3.55 Billion mark by 2023.

Conventional light systems that are currently used in automobiles do not provide adequate illumination while travelling on curve roads. This increases the possibility of accidents and collisions on curve roads. According to the U.S. National Highway Traffic Safety Administration, though only 25% of trips motorists take occur during night time, more than half of the accidents occur after nightfall.

This statistic makes it crucial to develop effective and advanced lighting solutions that can minimize the margin for error when it comes to curves and turnings. Adaptive lighting system, which is also known as adaptive front lighting system (AFS) significantly helps improves visibility for the motorist during night and thus enhances the safety of both the driver and the passengers.

The main factor that is spurring the growth of the adaptive lighting systems market is the growing demand for automobiles across the world. Currently, these lighting systems are popular only in luxury and medium-end cars. With increase in middle/upper-middle class population in different markets, especially in the Asia Pacific region, there will be more demand for such models. Another factor that might cause the use of these adaptive lighting systems even in low-end cars is the increasing regulations across the industry. Hence, Credence Research expects the overall automotive lighting industry to grow at a robust pace during the period from 2016 to 2023.

A few factors that can have a negative impact on the growth of this industry are the high costs, fluctuating prices of raw materials, and stagnation of the automotive market in a few countries. However, the overall impact of the aforementioned factors is estimated to remain low in the coming years ensuring that the market will cross USD 3.55 billion by 2023.

The report also states that with competition becoming intense in the automotive industry, all the companies are trying to pare down raw material costs, OEM costs and manufacturing costs. This will reflect in the adaptive lighting systems segment also, with the highest growth levels predicted for those companies which offer the lowest cost at the manufacturing end. Other factors that will be taken into account include the amount of energy consumed, durability, and luminosity.

The Key Trends that were identified in this segment for the next few years are:

• Development of more advanced lighting system equipped with various adapting combinations.

• Companies will strengthen their global sales channels in order to maintain and expand the sales.

• Manufacturers will shift towards advanced lighting technologies such as LED and Laser.

• Lighting systems for specific automotive manufacturers.

• Partnerships with lighting technology providers, automotive component suppliers and other organizations related to the automotive industry.