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Recent research: Increasing incidence of accidents and technological advancements in automotive lighting system are driving the growth of automotive adaptive lighting market

Recent research: Increasing incidence of accidents and technological advancements in automotive lighting system are driving the growth of automotive adaptive lighting market

Riding on the on the back of increasing sales of high-end luxury cars, the global automotive adaptive lighting market is expected to expand at a CAGR of 10.2% over the forecast period i.e. 2016-2023. Further, the global market is estimated to derive the sales of 152.5 Million units of automotive adaptive lighting by 2023 projecting the market to reach USD 2.95 Billion by 2023.

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Automotive Adaptive Lighting Market: Global Demand Analysis & Opportunity Outlook 2023

The global automotive adaptive lighting market is segmented into technology which includes light emitting diode (LED), halogen and xenon. Among these segments, light emitting diode (LED) segment is envisioned to grow at significant pace during the forecast period owing to a number of advantages of LED car bulbs such as long life time, low voltage require and continuous and strong light rays.

Furthermore, LED automotive adaptive lighting system last much longer than other lighting systems such as halogen and xenon is a major factor which is anticipated to boost the growth of this segment over the forecast period.  

Global automotive adaptive lighting market is projected to thrive at 10.2% CAGR over the forecast period.

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Moreover, the global automotive adaptive lighting market is expected to reach at notable revenue of USD 2.93 Billion by the end of 2023. The reasons behind the growth of automotive adaptive lighting market are increasing sales of       high-end luxury cars and technological advancements in vehicle lighting systems.

Furthermore, rising concerns regarding safety of population on road is also envisioned to fuel the growth of global automotive adaptive lighting market in future.

The Asia Pacific region is estimated to emerge as a leader in global automotive adaptive lighting market by the end of 2023.  Factors such as increasing sales of vehicles and rising incidence of road accidents are fuelling the growth of market in Asia Pacific region.

Moreover, global new car assessment program (Global NCAP) launched new vehicle crash tests in India and explained the need for government regulation to increase safety standards in vehicles. Further, this factor is also expected to bolster the growth of automotive adaptive lighting market in Asia Pacific.      

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Increasing Incidence of Road Accidents

Increasing number of causalities and deaths on roads is major factor fuelling the need to increase safety measurements such as crash protection, anti-breaking system and adaptive lighting in the vehicles.

Government Initiatives and Regulations

Government programs and safety guidelines are focusing towards advancements of safety standards of vehicles to improve crash protection of vehicles and to minimize accidents on roads. New safety guidelines such as automated emergency breaking system, adaptive lighting, better crash protection and rearview video systems launched by National Highway Traffic Safety Administration in 5-Star safety ratings program are anticipated to fuel the growth of market in future.

However, high cost of automotive adaptive lighting and presence of sub-standardizes lighting systems are some of the factors that are likely to hamper the growth of the Automotive Adaptive Lighting Market in the near future.

The report titled Automotive Adaptive Lighting Market: Global Demand, Growth Analysis & Opportunity Outlook 2023delivers detailed overview of the global automotive adaptive lighting market in terms of market segmentation by technology, by vehicle and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global automotive adaptive lighting market which includes company profiling of Hella KGaA Hueck & Co., KI Holdings Co., Ltd, Magneti Marelli, Valeo, Lear Corporation, Varroc Group, Mazda Motor Corporation, Mazda Motor Corporation, Stanley Electric Co., Ltd., ZKW Lichtsysteme GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global automotive adaptive lighting market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment.

We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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Research Nester Pvt Ltd - Market Research Consulting and Industry ReportsResearch Nester Pvt Ltd
Category: Market Research Publishers and RetailersCompany profile: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...