Technavio Releases New Report on the Global Automotive Lighting Market

LONDON--()--Technavio’s latest automotive industry report covers the present scenario and growth prospects for the global automotive lighting market during the period 2016-2020.

In this report, Technavio’s automotive components research experts announce their key market highlights for the global automotive lighting market. Their findings include:

Increase in electronic content in vehicles and the increasing emphasis on safety are leading to greater demand for automotive lighting

Automotive lighting serves a key purpose in improving visual conditions that help drivers in avoiding obstacles on roads. Vendors in the market are using advanced lighting systems and technologies that concentrate on reducing glare, illuminating the road along corners, distinguishing obstacles by utilizing infrared (IR) or ultra violet (UV) light, and introducing signal lighting, which is adaptive to varying ambient conditions while responding to emergency braking conditions.

Technavio research analyst Vinay Hirraki, who specializes in automotive components said “Systems such as adaptive front-lighting technology are gaining rapid popularity in the market, and it is immensely boosting safety standards across the world. The growing demand for adaptive front-lighting in automotive lighting systems will therefore play a key role in driving the overall revenue of the market until 2020.”

Rapid advances in automotive LED technology resulting in a price decline for LED-based lighting

The price difference between light emitting diode (LED) lights and other technologies is falling because of an increasing use of LED headlights. LED is finding widespread application in the global automotive lighting market because of its energy efficient and advanced features.

With falling prices, LED is soon expected to phase out incandescent and halogen bulbs from the market. LEDs last about 25 times longer than incandescent lights and three times longer than compact fluorescent lamps (CFL). The price of LED lights has come down to USD 10 for an A19 bulb, and this trend is expected to contribute substantially to the growth of this segment until 2020.

Halogen lights are expected to hold the largest market share by 2020, as they are more economical and are preferred in mid and low-range cars

Halogen lights have a long life span and emit bright white light. They are the most widely used lighting technology in the automotive industry. Under normal circumstances, a halogen light is expected to work efficiently for up to 1,000 hours. Its replacement cost is also very low but it uses more energy than other lighting technologies and also produces excess heat.

With close to 41% of the market share, the halogen segment is expected to lead automotive lighting by 2020. However, Xenon light technology has also evolved rapidly as an alternative to halogen lights in Europe and the Americas. Xenon headlights were first used in the BMW 7 series in the year 1991. Since then, these lights have become the optimum lighting solution for many luxury car manufacturers, and to some extent are being used in mid-range cars as well.

Introduction of OLED and laser lighting in the global automotive lighting market

Many innovations have happened in the automotive lighting field since the use of incandescent lights in vehicles. Laser and OLED lights are some of the most advanced and modern lighting technologies are currently being used in automobiles, but these lights are limited to luxury cars owing to high costs. Since this technology is still in a nascent stage, its adoption is expected to grow in the future.

Laser lighting is a relatively new trend in the automotive lighting field. The working of these lights involves the projection of a blue laser onto a diode, which produces a diffused white light and its size is around 10 times smaller than LEDs. These lights have a strong luminance and a longer range compared to other current products in the market. Laser lighting offers improved visibility, and it has resulted in increased road traffic safety. BMW has adopted laser headlight technology in its i8. Over the next four years, this technology will find increaqsing adoption in mid and lower-range cars and drive the growth of the overall market.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

Technavio’s latest automotive industry report covers the present scenario and growth prospects for the global automotive lighting market during the period 2016-2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com