Disruptive tech and behaviour changes are driving automotive lighting
A recently published report from Yole Développement, titled, ‘Automotive Lighting: Technology, Industry and Market trends’, has shown that automotive lighting industry growth is driven by the introduction of disruptive technologies and consumer behaviour changes.
The car is no longer a simple mode of transportation. In addition to security and autonomous driving features, car manufacturers are considering more and more functionalities to propose vehicles as a custom and fashion item.
During the last few years electronic, optoelectronic, software and various digital technologies along with societal changes, are increasingly pressuring the automotive players in transforming offerings and business models faster than ever before. Under this context, automotive OEM firms remain focused on core competencies and also develop new ones. Lighting technologies are part of them.
The report claims that the lighting market for automotive applications should reach a 23.7% CAGR, reaching a $27.7bn market in 2021.
The increasing role of design and the introduction of new functionalities including ambient light, rear light, turn signal, parking and day ruing lights, fog light, low/high beam light are the reasons of this success.
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