Technavio announces trends impacting the global automotive LED lighting market
Technavio’s latest report on the global automotive LED lighting market, provides an analysis of the key trends expected to impact the global automotive LED lighting market through 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global automotive LED lighting market is expected to exceed USD 7 billion by 2020 growing at a CAGR of over 18%. The market is growing due to lighting manufacturers striving to provide efficient, reliable, and affordable LED lights for automobiles.
According to Vinay Hirakki, a lead research analyst for automotive components at Technavio, “The introduction of innovative technologies to enhance safety and performance along with declining component prices has increased the sales of automotive LED lighting products. Manufacturers are also developing premium LED lights to accessorize vehicles.”
The top three emerging trends influencing the global automotive LED lighting market according to Technavio’s automotive research analysts are:
Innovations in LED technology
Vendors are leveraging semiconductor technology and developing next-generation LED platforms to supply more lumens per dollar to the customer, which eventually increases cost effectiveness.
High-quality advanced LED headlamps enhance on-road safety and provide better visibility while driving. These headlamps reduce energy consumption and CO² emissions by discharging less heat, and also improve the aesthetic appeal of vehicles. These headlamps have a lifespan exceeding 25,000 hours.
Technological innovation has led to the development of organic light emitting diode (OLED), which provides new opportunities in lamp and luminaire design. It enables homogeneous lighting that does not glare or cast shadows and is suitable for signal lights, tail-lights, and interior lighting.
Increase in popularity of ambient lighting
Ambient lighting is used to accessorize and add aesthetic appeal to the interior of vehicles. This concept was introduced in luxury vehicles in 2007 and has since expanded to low-cost vehicle models.
Ambient lighting is provided in a vehicle by using light pipes and rings, LED pin spotlights, and diffuser lenses that are assimilated into the vehicle’s console, door panels, instrument panel, and seat frames. The aftermarket sales of these systems is increasing, with automobile enthusiasts adopting them for customization.
“Ambient lighting illuminates necessary functions in the dark, thus adding to the driver’s convenience. End users can also control the intensity and color of lighting in cars. Thus, the concept of ambient lighting should boost the market during the forecast period,” says Vinay.
Development of laser and OLED lights
Laser and OLED lights are the most advanced lighting technology that is used in automobiles. However, due to their high costs, these are limited to luxury cars. As these technologies are still nascent, their adoption may increase in all types of cars during the forecast period, as vendors introduce low-cost OLEDs and lasers in a wide range of vehicles.
Laser lighting is a relatively new trend in the automotive industry. The functioning of these lights involves projecting a blue laser onto a diode, which produces diffused white light. Their size is nearly 10 times smaller than LEDs. They have a strong luminance and have a longer range than the products currently available in the market. This enables manufacturers to adopt this technology, and reduce the size of the bulb without affecting the light intensity.
Laser lighting offers improved visibility, resulting in increased road traffic safety. For instance, BMW has adopted the laser headlight technology in its i8 model. Technavio expects that this technology will be used in other cars too, which will further boost market growth during the forecast period. Source: Business Wire