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Next-Generation Automotive Lighting Market Set for Rapid Grow at CAGR of 13.56% and Trend by 2025

 Over the last decade, automotive industry has witnessed a massive transformation owing to rising air pollution, stringent government rules and regulation and growing in demand for safety features such as adaptive driving beam, ambient lighting, laser lighting, and communicable lighting. Currently, the automotive industry is on the crest of technological advancement, which in turn, is expected to further advance the concept of vehicle safety on public roads. The dynamic evolution of the automobile industry is attributed primarily to changing consumer preferences, growing focus on environment concerns, increased safety, and stringent government regulations. Lighting plays a critical role in the automotive industry and is growing at a rapid pace, driven by safety and design. Rapid technological developments in the automotive lighting industry have witnessed a radical transformation from simple incandescent and gas discharge based light sources to light emitting diodes (LEDs), laser technology and organic light emitting diodes (OLEDs).

The next-generation automotive lighting market was estimated at $6,783.4 Million in 2019 and is projected to grow at a CAGR of 13.56% during the forecast period from 2020-2025.

The next generation automotive lighting market research provides a detailed perspective on the different types of products, their applications, value estimation, among others. The principal purpose of this market analysis is to examine the automotive lighting market in terms of factors driving the market, restraints, trends, and opportunities, among others.

The report further considers the market dynamics, supply chain analysis, and the detailed product contribution of the key players operating in the market. The next generation automotive lighting market report is a compilation of different segments, including market breakdown by product type, application, region, and country.

The next generation automotive lighting market, based on product type, has been segmented into adaptive lighting, flexible lighting, ambient lighting, and communicable lighting. The ambient lighting segment is expected to maintain its dominance during the forecast period in the next generation automotive lighting market.

The next generation automotive lighting market, based on technology type, has been segmented into halogen, xenon, LED, and laser. The LED segment is expected to maintain its dominance during the forecast period in the next generation automotive lighting market.

The next generation automotive lighting market, by application, has been segmented into passenger and commercial. The passenger segment dominated the next generation automotive lighting market in 2020 in terms of value and is expected to maintain its dominance through the forecast period.

Based on the region, the next generation automotive lighting market has been segmented into Asia-Pacific & Japan, Europe, the U.K., China, North America, and Rest-of-the-World. Each region is segmented into countries. Data for each of these regions and countries is provided by product type and application.

Competitive Landscape

The next generation automotive lighting market competitive landscape consists of different strategies undertaken by key players across the industry to gain traction and market share presence. Some strategies adopted by the service providers are new product launches, business expansions, mergers, partnerships, and collaborations. Among all these strategies adopted, business expansion is the popular choice of the strategy implemented in the micro mobility market. Some of the most prominent ecosystem players are Magneti Marelli S.p.A., HELLA GmbH & Co. KGaA, OSRAM GmbH, Valeo Group, KOITO Manufacturing Co. Ltd., Hyundai Mobis Co. Ltd., Varroc Group, Magna International Inc., Flex-N-Gate Corporation, DRÄXLMAIER GROUP, Sigma International, J W SPEAKER CORPORATION, Faurecia S.A., LG Innotek Co., Ltd., and Stanley Electric Co., Ltd.

Some of the notable developments are:

•    Valeo Group partnered with Cree, Inc. in 2018 to develop a HD LED solution for automotive lightings for adaptive lighting beams.
•    Magneti Marelli S.p.A., in collaboration with Daimler AG, has developed a lighting technology which improves protection by supplying the driver with visual awareness in the front region of the car. The first Daimler AG car with this system was launched in mid-2018.
•    OSRAM GmbH launched a new generation of automotive LEDs with better heat management systems in September 2020.

Key Questions Answered in this Report:

•    What are the key drivers and challenges in the next generation automotive lighting market?
•    How does the supply chain function in the next generation automotive lighting market?
•    What will be the potential impact of COVID-19 on the market?
•    Which product segment is estimated to witness the maximum demand growth in the next generation automotive lighting market during 2019-2025?
•    Which are the key application areas for which different lighting technologies types may experience high demand during the forecast period, 2020-2025? 
•    Who are the key suppliers of different lighting technologies and its raw materials?
•    What are the business and corporate strategies adopted by manufacturers involved in the next generation automotive lighting market?
•    Which regions and countries are leading in terms of consumption of the next generation automotive lighting market, and which of them are expected to witness high demand growth from 2019 to 2025?

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