Automotive Smart Lighting Market Size, Trends and Insights By Vehicle Type (Passenger Cars, Commercial Vehicles), By Technology (LED, Halogen, Xenon, Other Technologies), By Application (Exterior, Interior), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2…
The global automotive smart lighting market was valued at USD 4.6 Bn in 2022 and is projected to reach USD 10 Bn by 2030, growing at a CAGR of 13%. Europe is the largest regional market and Asia-Pacific is growing fastest.
Global Automotive Smart Lighting Market 2023–2032 (By Billion)
Surging demand for LED automotive exterior lighting is bolstering the market growth.
According to Custom Market Insights (CMI), The Global Automotive Smart Lighting Market sizewas worth around USD 4 billion in 2021 and is expected to reach USD 4.6 billion in 2022 and is predicted to grow to around USD 10 billion by 2030 with a compound annual growth rate (CAGR) of roughly 13% between 2022 and 2030.
The report analyses the Automotive Smart Lighting market’s drivers and restraints and their impact on demand throughout the projection period. In addition, the report examines global opportunities in the global Automotive Smart Lighting market.
Depending on the driving conditions, bright automotive lighting improves the light dispersion from the headlights. The automobile's bright lighting directs the low-beam headlamps toward the direction the driver desires to go depending on steering input and speed. Artificial intelligence is used by intelligent vehicle lighting to regulate the lights when turning lights on and off.
The COVID-19 epidemic hampered the market for bright automotive lighting, mainly due to the suspension of manufacturing operations. In addition, the expansion of this market is anticipated to be hindered by the economic recession and the tariffs put on the importation of lights and other goods. Furthermore, the development of the market may also be impacted by nation-specific rules for exterior auxiliary lights. However, as new automobile and commercial vehicle sales surged in 2021, there was an increase in demand for high-end vehicles with intelligent lighting technologies, including automatic high-beam headlights, active headlamps, and gesture-controlled interior lighting.
Automotive Smart Lighting Market: Growth Drivers
Rising demand for LED lighting in automotive exteriors
The majority of the illumination in automobiles is composed of the front and rear lights. Automotive manufacturers are increasingly focusing on integrating lightweight parts into their vehicles to improve their performance and fuel economy. Compared to conventional filament-based headlamps, the LED lighting utilized in modern automobiles is more portable. This enhances the performance of cars and their fuel efficiency.
Compared to ordinary vehicle lamps, LED lamps are often more relaxed, smaller, and use less energy. For both drivers and passengers, they provide safety and comfort. Drivers can have a good and improved vision of the road contours, higher road anticipation power, and, therefore, good reaction time for making a decision due to the usage of LED light sources in the headlights.
The advent of connected cars
The automotive sector will undergo a total transformation due to the developed internet infrastructure, semiconductor technological advancements, and the availability of high-definition screens. Advanced Driver Assistance Systems (ADAS), in-vehicle infotainment systems, and driver telematics are currently available on the market and are quickly gaining wide acceptance. Regarding the future of this sector, advanced infotainment systems and applications, vehicles with Wi-Fi, and vehicle-to-vehicle communications would allow thorough communication between cars on the road and exchange safety data like traffic conditions, weather conditions, and real-time location services, are anticipated to converge.
In our research scope, the Automotive Smart Lighting market is segmented into vehicle type, technology, and application. By application, the exterior lighting segment is anticipated to hold the largest share globally throughout the forecast period. Governments and automakers create and promote safe driving technologies, particularly for passenger cars. Therefore, we anticipate that the majority of those technologies will be required.
The Canadian government, for instance, declared the safe testing of every vehicle, deployed automated and linked cars and raised awareness of driver-assistance systems. Also, the Ministry of Road Transport and Highways in India announced that it was trying to make ADAS mandatory for vehicles to reduce the number of accidents in the country.
The ministry debated several driving assistance technologies, including adaptive headlamps, blind-spot information systems, driver drowsiness attention systems, lane-departure warning systems, and forward collision alerts. As a result, the need for innovative lighting technology is rising as more ADAS capabilities are added to new cars. The leading competitors are investing in new R&D facilities to stay ahead of this market.
Report Scope
Feature of the Report
Details
Market Size in 2021
USD 4 Billion
Projected Market Size in 2030
USD 10 Billion
Market Size in 2022
USD 4.6 Billion
CAGR Growth Rate
13% CAGR
Base Year
2023
Forecast Period
2024-2033
Prominent 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, and Others
Key Segment
By Vehicle Type, Technology, Application, and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options
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Key Insights:
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).
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.
Based on vehicle type segmentation, the passenger cars segment was estimated to hold the maximum market share in 2021.
By application segmentation, the interior segment is projected to witness a high CAGR from 2022 to 2030.
The LED segment was estimated to hold the maximum market share by technology in 2021.
Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.
Recent Development
2021: Veoneer Inc., a prominent provider of automobile safety technologies, was acquired by Magna International Inc. Magna to enhance and expand the scope of its ADAS product and position within the market with this acquisition.
2019: The establishment of a new factory in Guadalajara, Mexico, was announced by OSRAM Continental. The business will primarily concentrate on research and development (R&D) activities through this new facility to assist businesses and establish a firm footing in the Americas region.
Regional Landscape
The Asia Pacific region is estimated to retain the largest market share during the research period. The demand for premium cars has grown in China in recent years. The robust demand is responsible for the rising spending patterns and the flourishing economy. The Wenjie M5, a brand-new luxury smart SUV, was officially released in 2021 under the SERES AITO brand.
The car is now out for pre-order and comes in three configurations, with prices ranging from CNY 250,000 to CNY 320,000. The vehicle includes a panorama sunroof with a total area of nearly 2 square meters, a 10.4-inch curved LCD dashboard, a 15.6-inch 2K HDR intelligent centre console screen, bright, interactive lighting, and L2+ autonomous driving capabilities.
Competitive Landscape
The market is heavily influenced by cutting-edge technology, increased sensor use, rising R&D project investment, and expanding electric and autonomous vehicle markets. As a result, major automotive innovative lighting producers are creating new technology for the future and buying lesser businesses to broaden their market reach to give car owners a richer experience. For example, in May 2022, At its plant in Silao, Guanajuato, which manufactures headlights, fog lamps, and auxiliary lighting, Grupo ZKW laid the first stone of what would be its third phase of a USD 102 million expansion. With the 15,700 square meter extension, ZKW can create 1.5 million headlights annually. In addition, they will build centre bar lamps and headlights for BMW, Ford, and GM EVs and SUVs.
Prominent 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 global Automotive Smart Lighting market is segmented as follows:
Ayush Kadam is a Senior Market Research Analyst at Custom Market Insights, with over seven years of experience in syndicated and custom market research. He specializes in market sizing, competitive intelligence, industry trends, forecasting, and strategic insights, helping clients turn complex data into actionable business decisions.