Technavio has published a new report on the global automotive adaptive rear lighting system market from 2017-2021. (Photo: Business Wire)
Technavio has published a new report on the global automotive adaptive rear lighting system market from 2017-2021. (Photo: Business Wire)
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LONDON—Technavio has announced the top five leading vendors in their recent global automotive adaptive rear lighting system market report until 2021. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The global automotive adaptive rear lighting system market is expected to grow at a CAGR of more than 10% during the forecast period. Advances in technology and growing demand for innovative products from consumers led to an increase in electronic components in cars. Governments and regulatory bodies in some countries are introducing strict regulations regarding the mandatory fitment of advanced driver assistance systems. Such developments underline the fact that more vehicles have software and hardware embedded and implemented for the functioning of the systems. This makes such vehicles compatible with and conducive to new technologies, brightening the business and technological prospects of uptake of new products, such as adaptive rear lighting systems.
Competitive vendor landscape
The lighting market for automotive is highly fragmented with many regional and international players in the market. The market is driven by the increase in automotive sales. The constant innovation and advancement of technology are further intensifying the market completion among vendors.
Siddharth Jaiswal, an industry expert at Technavio for research on automotive electronics, says, “Some of the OEMs that have adaptive rear light systems in their vehicles include Mercedes-Benz, Audi, and BMW. A few of the vendors that offer adaptive rear lights to the OEMs for deploying or enabling the vehicles with adaptive rear lighting systems are profiled in brief in the below section.”
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Top five automotive adaptive rear lighting system market vendors
Hella
Hella designs and sells lighting technology, systems, and electronic components for the automotive industry globally. It specializes in headlamps and electric control circuits. In the lighting division, it manufactures work lights, front lights, headlights, taillights, beacons, and interior lights with halogen, xenon headlights, and LED technology.
KOITO
KOITO manufactures and sells electrical equipment, aircraft parts, automotive lighting equipment, and other products. The company's products are used in various applications, such as transportation, aviation, traffic systems, and railways and shipping.
Magneti Marelli
Magneti Marelli supplies automotive parts and automotive lighting systems. It focuses on designing and manufacturing of lighting systems and components for the automotive industry. Its business segments include automotive lightings, powertrains, electronic systems, suspension systems, exhaust systems, plastic component and modules, aftermarket parts and services, and motorsports.
Valeo
Valeo is an automotive supplier partnered with many automakers worldwide. It provides innovative systems and products that help reduce CO₂ emissions and improve vehicle performance. It also develops systems for intuitive driving. Some of the main customers of Valeo include BMW, BYD Auto, Ford Motor Company, Honda, Hyundai Group Co., Mitsubishi Motors Corporation, Renault-Nissan, Suzuki Motor Corporation, Tata Group, Toyota Motor Corporation’, Volkswagen, and Volvo Group.
OSRAM
OSRAM GmbH provides lamps, luminaires, and lighting solutions. It caters to the retail, automotive, industrial buildings, medical, and hospitality industries; supermarkets, street and urban markets.
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