Global Automotive Adaptive Lighting Market to Reach $1.5 Billion by 2023, Reports BIS Research

BLOOMINGTON, Minnesota, June 22, 2017 /PRNewswire/ --

According to a new market research report by BIS Research, titled 'Global Automotive Adaptive Lighting Market - Analysis and Forecast (2017-2023)', the automotive adaptive lighting market is estimated to reach $1.5 billion by 2023 at a CAGR of 13% from 2017 to 2023. The shifting paradigm of automotive lighting industry from simple incandescent and gas discharge based light sources to light emitting diodes (LEDs), laser technology and organic light emitting diodes (OLEDs) is one of the major reasons for the growth of the automotive adaptive lighting market.

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Browse 78 market data Tables and 107 Figures spread through 201 Pages and in-depth TOC on 'Global Automotive Adaptive Lighting Market' https://bisresearch.com/industry-report/global-automotive-adaptive-lighting-market-2023.html . 

The installation of ADAS systems such as adaptive lighting provides an optimized vision to the driver during night time and during poor-sight conditions to improve the visibility and enhance driver's and passengers' safety. Such assistance has increased the importance of advanced lighting systems in all types of vehicles. The factors such as the substantial decrease in the LED prices, along with the increasing safety concerns and increased vehicle sales volume globally are driving the growth of the automotive adaptive lighting market. In addition to this, the market is driven by the increased safety standards and government regulations. In 2014, the Euro NCAP, which oversees the automotive safety standards in Europe, increased the active safety weighting share to 20% from 10%. To meet the 5-star rating of NCAP, the OEMs have to include one or more active safety systems on each vehicle model, thereby, driving the demand for adaptive lighting.

According to Surabhi Rajpal, analyst at BIS Research, "The halogen light segment dominated the global automotive adaptive lighting market and contributed 62.3% in 2016, and is expected to continue its dominance in the forecast period. Factors such as low-cost and easy availability are driving the demand for halogen light. However, the penetration of LED lighting is the highest in comparison to other lighting sources for automotive adaptive lighting market. Moreover, the demand for LED for adaptive front lighting is increasing as LED lights can focus on a particular light beam area and thus, prevent glare issues from oncoming vehicles. "