The automotive adaptive lighting market has evolved into a highly competitive industry, with all the players engaging in research and development in the lighting technology. To gain a higher share in the market, these players are undertaking various business strategies such as business expansions, partnerships/agreements/collaborations, product launches, mergers and acquisitions, etc. The players are organizing and participating in numerous events to showcase their innovations and products to gain traction in the global market. Since the market is in a continuous growth process, the players are utilizing this opportunity to gain a strong hold on and global presence in the market.
The automotive lighting industry is highly concentrated and the top five players in the industry held a major share of the market in 2016. The market players are undertaking initiatives such as innovative products and services, pricing strategies, market initiatives, and developing and extending the product lines to maintain the competition in the market. Magneti Marelli, Osram Licht AG, Hella KGaA Hueck & Co., and Koito Manufacturing Ltd are some of the most prominent names that surfaced in 2015- 2016.
Osram Licht AG, one of the leading companies in automotive lighting market, unveiled its latest high-tech automotive applications at the Consumer Electronics Show (CES) in Las Vegas, in January 2017. “Osram’s car lighting technologies are designed to offer drivers smart and stylish design options, but most importantly, to significantly enhance road safety,” said Olaf Berlien, CEO of OSRAM Licht AG, in a press release. “Laser-based car lighting is much brighter and enables a doubled high-beam range. The improved down-road visibility and clarity for the drivers increase safety for all on the road.” A glare-free full-beam is another of Osram’s solutions to enhance visibility, keeping in mind the increase in fatality rate of night-time travel as compared to that of day-time travel.
Another company which is based in Asia, Hyundai Mobis, announced on April 18th, 2017 that it has opened a new lamp plant in the Czech Republic and commenced lamp production. Hyundai Mobis plans to make this plant as a production base for main auto components for the European market, contributing to elevating global competitiveness of Hyundai-Kia operating in Europe, while accelerating penetration into European global automakers. The majority of the manufacturing facilities for automotive lighting are located in the European and Asia-Pacific regions.
Acknowledging the intensely competitive environment, BIS Research has compiled a meticulous report titled ‘Global Automotive Adaptive Lighting Market, Analysis and Forecast, 2017–2023’. The report provides a detailed market analysis and forecast with respect to various technologies in the lighting market which are halogen, xenon, LEDs, OLED, and laser. According to the analyst at BIS Research, “The global automotive adaptive lighting market is estimated to reach $1.49 billion by 2023. The market is driven by a number of factors such as declining average price of LEDs, technological advancements, and increased vehicle sales volume.”
This report divides the automotive adaptive lighting market by technology is categorized into halogen, xenon, and LED. On the basis of application, the automotive lighting market is segmented into interior lighting and exterior lighting. The exterior lighting segment is further categorized into front lights and rear lights. On the basis of application, the automotive lighting market is segmented into interior lighting and exterior lighting. The exterior lighting segment is further categorized into front lights and rear lights. The automotive adaptive lighting market on the basis of application is segmented into front lights and rear lights.
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different vehicles that are analyzed, which include passenger cars and commercial vehicles. The report also provides a detailed analysis and forecast in terms of revenue generated by the market mainly through two distribution channels which are OEM and aftermarket. The report includes an exhaustive analysis of the geographical split into North America (U.S, Canada, Mexico), Europe (Germany, U.K, France, Italy, Others), Asia-Pacific (China, Japan, South Korea, India Others), South America, and Middle East & Africa. Each geographical region has been analyzed detailing the individual push and pull forces in addition to the key players from respective region.