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Automotive Exterior Smart Lighting Market Overview:

Automotive Exterior Smart Lighting Market size was valued at USD 18.32 Billion in 2020 and is projected to reach USD 26.83 Billion by 2028, growing at a CAGR of 4.2% from 2021 to 2028. The lighting systems aid other drivers and pedestrians on the road in detecting the vehicle’s position, movement direction, and size. It gives the inside and external portions of the vehicle a more beautiful appearance while also increasing the vehicle’s visibility. It includes lighting and signaling equipment. These lighting systems are installed in a variety of areas across the vehicle, including the front, back, top, and interiors. The need for lighting equipment is being driven by an increase in concerns about road safety and government lighting requirements. The Global Automotive Lighting Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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This market research report includes a detailed segmentation of the market by product type, vehicle type, end-users, and geography. Headlamps segment dominated almost 3/4th of the market share in 2020, growing at a CAGR of around 4% during the forecast period. The increasing adoption of LED and laser headlights is augmenting the growth of this segment in the global market. The use of LED lights that allows the manufacturing of lightweight and thin rear lamps will boost the sales in the automotive exterior lighting system market.

Mid-priced car segment dominated a section of the market share in 2020, growing at a CAGR of more than 6% during the forecast period. The installation of electronic stability control (ESC), tire pressure monitoring systems (TPMS), driver seat belt indicators, and gear shift indicators are driving the growth of this segment in the global market. OEMs segment dominated the majority market share in 2020, growing at a CAGR of over 4% during the forecast period. The increasing profits from regions such as the US, China, Europe, Japan, and South Korea will propel the growth of this segment in the global market.

The Automotive Exterior Smart Lighting Market is segmented as below:

The publisher provides an analysis of the key trends in each sub-segment of the global automotive lighting market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, vehicle type, sales channel and application.

A selection of KEY COMPANIES mentioned in this report includes:

Magneti Marelli S.P.A,

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7 Market Breakup by Vehicle Type

8 Market Breakup by Sales Channel

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