Market Highlights
Global Automotive Exterior Smart Lighting Market size is anticipated to exhibit a CAGR of 6% during the forecast period, 2020–2026. The lighting system of a motor vehicle consists of lighting and signaling devices mounted on the front, rear, sides, and in some cases on the top that lights the roadway for the driver. The lighting system also makes the vehicle more visible, especially in low-light conditions. It gives a warning to other drivers and pedestrians of a vehicle's presence and direction of travel.
Key Players
Key industry participants in the automotive exterior smart lighting market include Koito Manufacturing Co. Ltd (Japan), Stanley Electric Co. Ltd (Japan), Valeo Group (France), OsRam Licht AG (Germany), Magneti Marelli SpA (Italy), HELLA KGaA Hueck & Co. (Germany), Hyundai Mobis (South Korea), Mitsuba Corporation (Japan), Lumax Industries (India), and Koninklijke Philips N.V. (Netherlands).
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Asia-Pacific contributed significantly in the automotive exterior smart lighting market in terms of share: MRFR
Based on region, the automotive exterior smart lighting market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to be the largest market for automotive exterior smart lighting. It is among the leading automobile producer and markets in the world. In 2019, China sold around 25.78 million vehicles. China, India, and Japan are the major economies in the region that are anticipated to grow at a significant rate in the global market.
The global automotive exterior smart lighting market has been segmented based on product, vehicle type, and technology. Based on product, the global market is divided into front light, parking light, fog light front, fog light rear, stop light, side signals/ warning lights, head lamp, brake/ tail light, license/number plate, and panel lights.
The head lamp product segment contributed significantly to the global automotive exterior smart lighting market in 2019. Based on vehicle type, the global automotive exterior smart lighting market is segmented into passenger cars and commercial vehicles. Passenger cars contained a significant share of the global market because of the increasing disposable income, rising four-wheeler sales, and increasing preference for automotive vehicles.
However, rising fuel prices are anticipated to moderately restrain the market. Based on technology, the global automotive exterior smart lighting market has been divided into Halogen, Xenon, LED, and others. The halogen technology segment held a significant market share owing to its extensive usage. However, the LED technology segment is anticipated to grow significantly in the coming years.
Scope of the Report
This report provides an in-depth analysis of the global automotive exterior smart lighting market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive exterior smart lighting market by product, vehicle type, technology, and region.
Product
- Parking Light
- Fog Light Front
- Fog Light Rear
- Stop Light
- Side Signals/ Warning Lights
- Head Lamp
- Brake/Tail Light
- License/Number Plate
- Panel Lights
Vehicle Type
- Passenger Cars
- Commercial Vehicles
Technology
- Halogen
- Xenon
- LED
- Others
By Region
- North America
- Asia-Pacific
- Europe
- Rest of the World
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