Posted in | Automotive Materials

Automotive Lighting Industry Growth is Driven by the Introduction of Disruptive Technologies and Consumer Behavior Changes

Car is not a simple mode of transportation anymore. In addition to security and autonomous driving features, car manufacturers are considering more and more functionalities to propose vehicles as 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 lighting market for automotive applications should reach a 23.7% CAGR2015-2121 reaching a US$27.7 billion market in 2021, announces Yole Développement (Yole) in its latest LED report entitled “Automotive Lighting: Technology, Industry and Market trends”.
The increasing role of design and the introduction of new functionalities including ambient light, rear light, turn signal, parking & day ruing lights, fog light, low/high beam light and more are the reasons of this success.
But what are the companies behind this impressive growth? What will be the impact on the supply chain? LED, OLED … Which technologies are today able to answer to the market needs? The market research and strategy consulting offers today its vision of this industry…

More information about Yole Développement’s activities, click Yole

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