GMI Research forecasts that the rise in demand for Automotive Smart Headlights w
Posted by Nikita Manwar on October 9th, 2019
Automotive smart headlights are technologically advanced headlights that provide maximum visibility without dazzling and angled lights to fill the blind spot while cornering in the dark, leading to a reduced number of accidents. There are several features supporting the increasing use of automotive smart headlights, including high beam assist, lane departure warning, intelligent back-up intervention, and intelligent blind-spot intervention.
Automotive Smart Headlights are rapidly gaining ground over conventional automotive headlights due to better illumination, increased safety along with OEM’s more inclination towards improving the driver’s experience.
As cars are becoming semi-autonomous and are relying not only on powerful AI and cloud computing but also on front vision through lights, cameras and sensors. The key factors boosting the global automotive smart headlight market growth are rise in the semi-autonomous driving trend and the increase in R&D activities along with technological advancements in automotive smart headlights. In addition, an increase in the percentage of accidents at night and in bad weather conditions, leading to an increase in concern towards driver’s safety are paving the way for smart headlights.
Currently, the automotive smart headlights are popular in premium luxury segments cars only. As the technology of automotive smart headlights gets more advanced, the average selling price is expected to see a downward trend, the drop-in price will make smart headlights to become more viable for mid-range and entry-level luxury segment. Its adoption in medium-range and entry-level luxury segment cars will bolster the market growth.
Based on Product Type, Matrix LED segment is anticipated to lead the market during 2019-2026
Matrix LED segment captured the largest market share in 2018 and is expected to dominate the market during the forecast period as it is cheaper and easier to develop compared to other types of smart headlights. However, Pixel Laser LED is expected to grow at the highest CAGR % during the forecast period.
Based on Vehicle type, the car segment accounts for the largest market share in 2018 and is expected to dominate the market in the upcoming years due to growing capital expenditure by the automobile manufacturers to implement new technologies.
Based on geography, Europe held the largest market share in 2018 and is expected to dominate the market during the forecast period as the region is hub for majority of premium luxury car manufacturers. North America is projected to grow at the fastest CAGR % during 2019-2026 due to a rise in demand for advanced driver assistance featured automobiles, rising safety concerns of consumers and adoption of automotive smart headlight in premium cars. Asia – Pacific market for automotive smart headlights is also picking up, and it is expected to witness relatively slower growth than North America.
Key Market Developments:
Major key player in Global Automotive Smart Headlight market including, HELLA GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., ICHIKOH Industries Ltd., ZKW Group GmbH, Huayu Vision Technology Co. Ltd. and Osram GmbH among others.
The Global Automotive Smart Headlight Market has been segmented based on product type, vehicle type, and key geographies. Based on the product type, the global automotive smart headlight market has been segmented into Matrix LED; Pixel LED and Pixel Laser LED. Based on vehicle type, the market has been segmented into Cars, Trucks and Motorcycles, and others geographies.
Early buyers will get customization upto 20% on report
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About the AuthorNikita Manwar
Joined: September 10th, 2019
Articles Posted: 80
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