Market Size of Automotive Smart Lighting Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.32 Billion |
| Market Size (2029) | USD 8.23 Billion |
| CAGR (2024 - 2029) | 9.09 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Smart Lighting Market Analysis
The Automotive Smart Lighting Market size is estimated at USD 5.32 billion in 2024, and is expected to reach USD 8.23 billion by 2029, growing at a CAGR of 9.09% during the forecast period (2024-2029).
The COVID-19 pandemic harmed the market studied, primarily attributed to halted manufacturing activities. The economic slowdown, coupled with the tariffs imposed on importing lights and other products, is expected to hamper the growth of this market. In addition, country-specific regulations for external auxiliary lights may affect the market's growth. However, with new car and commercial vehicle sales increasing in 2021, the demand for luxury cars with smart lighting features such as auto high-beam headlamps, active headlamps, and gesture-controlled interior lights increased demand for luxury cars with smart lighting features such as auto demand for smart lighting increased.
Over the long term, many vehicle manufacturers show great interest in integrating LED lights into their vehicles, as these lights use less power and have a longer lifespan than halogen and HID lights. Furthermore, LED lights offer durability, strength, and high quality.
The automotive manufacturers are investing in developing new lighting technologies and solutions focusing on the major lighting application, headlights. OEMs are launching vehicles with adaptive headlights to provide a safe driving experience at night.
A few major factors drive the research and development in automotive smart lighting, such as the adoption and sales of electric vehicles. It is to extend the range of electric drives and adopt advanced features from existing and upcoming vehicles. Moreover, this scenario is expected to continue in the future.
Some major players operating in the automotive smart lighting market are Stanley Electric Co. Ltd, ValeoGroup, Osram Licht AG, and others. These players are focusing on upgrading their product portfolio and are investing in new technologies to offer innovative solutions to their customers.
