Automotive Automotive Adaptive Lighting Market | Page 2

“Automotive Adaptive Lighting Market: Global Demand
Analysis & Opportunity Outlook 2023”
The global automotive adaptive lighting market is segmented into
technology which includes light emitting diode (LED), halogen and xenon.
Among these segments, light emitting diode (LED) segment is envisioned
to grow at significant pace during the forecast period owing to a number of
advantages of LED car bulbs such as long life time, low voltage require and
continuous and strong light rays. Furthermore, LED automotive adaptive
lighting system last much longer than other lighting systems such as
halogen and xenon is a major factor which is anticipated to boost the
growth of this segment over the forecast period.
Global Automotive Adaptive Lighting Market is projected to thrive
at 10.2% CAGR over the forecast period. Moreover, the global automotive
adaptive lighting market is expected to reach at notable revenue of USD
2.93 Billion by the end of 2023. The reasons behind the growth of
automotive adaptive lighting market are increasing sales of
high-end
luxury cars and technological advancements in vehicle lighting systems.
Furthermore, rising concerns regarding safety of population on road is also
envisioned to fuel the growth of global automotive adaptive lighting market
in future.
The Asia Pacific region is estimated to emerge as a leader in global
automotive adaptive lighting market by the end of 2023. Factors such as
increasing sales of vehicles and rising incidence of road accidents are
fuelling the growth of market in Asia Pacific region. Moreover, global new
car assessment program (Global NCAP) launched new vehicle crash tests in
India and explained the need for government regulation to increase safety
standards in vehicles. Further, this factor is also expected to bolster the
growth of automotive adaptive lighting market in Asia Pacific.
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