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Automotive Lighting Market to Grow by USD 12.38 Billion (2024-2028) Driven by Rising Demand for Effective Interior Lighting, AI’s Influence on Market Trends- Technavio Report

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NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global automotive lighting market size is estimated to grow by USD 12.37 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.09%  during the forecast period. Increasing demand for effective interior lighting is driving market growth, with a trend towards development of autonomous vehicles. However, high cost of led lamps  poses a challenge. Key market players include Continental AG, FlexNGate Group of Companies, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., LG Corp., Lumax Industries Ltd, Marelli Holdings Co. Ltd., Namyung Lighting Co. Ltd, NXP Semiconductors NV, OSRAM Licht AG, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Valeo SA, and Varroc Engineering Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Automotive Lighting Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.09%

Market growth 2024-2028

USD 12377.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 57%

Key countries

China, US, Japan, India, and Germany

Key companies profiled

Continental AG, FlexNGate Group of Companies, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., LG Corp., Lumax Industries Ltd, Marelli Holdings Co. Ltd., Namyung Lighting Co. Ltd, NXP Semiconductors NV, OSRAM Licht AG, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Valeo SA, and Varroc Engineering Ltd.

Market Driver

The automotive lighting market is experiencing significant growth due to the advancements in autonomous driving technology. Companies such as Delphi, Continental, Bosch, Daimler, Scania, and Volvo are leading the charge in this area, expanding the market acceptance of semi-autonomous features in both passenger and commercial vehicles. Self-driving cars are expected to become a reality within the forecast period, and the number of self-driving vehicles on the road is estimated to increase substantially in the next decade. These companies have made significant strides in research and development of autonomous vehicles, and the testing of advanced driver-assistance systems (ADAS) and telematics/connected vehicle applications and services is also increasing. Consumer demands and OEM offerings have evolved to prioritize safety, performance, stability, and comfort. The increasing number of automotive OEMs investing in autonomous vehicles has led to the outgrowth of conventional mechanical components and the adoption of advanced lighting systems. Lighting is now being used as a tool for communication between drivers and vehicles. For instance, Ford Motor Co. Uses colored lamps above the windshield of its Transit Connect Cargo Van to communicate with drivers. The development of autonomous vehicles is expected to boost the demand for automotive lighting, driving the growth of the global automotive lighting market during the forecast period. 

The Automotive Lighting Market is witnessing significant growth due to the increasing demand for advanced lighting solutions. Trends include improved Brake Lights, Reversing Lights, Rear Fog Lights, Turn Signal Lights, Interior Lighting, and Energy-efficient LED solutions. Adaptive lighting systems enhance Road Safety by adjusting light distribution based on vehicle speed and surrounding conditions. Lighting design and Vehicle Aesthetics are key factors driving demand. Autonomous Driving and Specialized Lighting Technologies like Indium Gallium Nitride and Aluminum Gallium Arsenide are future growth areas. Traditional fixtures like Halogen, Xenon or HID, and advanced technologies like OLED, Matrix LEDs, and Laser continue to shape the market. Superior Illumination and Dynamic Lighting Features cater to Car Users’ needs. Cabin Lights and Luxury Features add value to cars, while Lighting Grille Technology offers Design Flexibility. Overall, the market focuses on Superior Illumination, Improved Visibility, and Safety. 

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Market Challenges

The automotive lighting market has experienced significant growth due to the increasing adoption of LED lamps. Their energy efficiency and longer lifespan compared to halogen and compact fluorescent lamps make them an attractive option for automakers. LED lamps last approximately 25 times longer than halogen lamps and three times longer than CFLs. However, their higher upfront cost is a barrier to entry, particularly for mid-segment and commercial vehicles. Another challenge is heat management. While LED light sources themselves do not generate heat, the wiring harnesses and surrounding assemblies do. This necessitates the installation of additional cooling systems. Placing these cooling systems near the engine is complicated due to high temperatures, and recalls due to heat-related issues have occurred, affecting both automakers and the adoption of LED lamps in passenger vehicles. This poses a potential challenge for the automotive lighting market during the forecast period. Vendors are working to reduce costs while improving quality and efficiency to make LED lamps more accessible.The Automotive Lighting Market faces challenges in developing glare-free lighting systems for various vehicle types, including passenger cars, buses, commercial vehicles like freight trucks, LCVs, pickup trucks, and delivery vans, as well as two-wheelers. Dynamic light sequencing is crucial for enhancing visibility during vehicle movements and addressing road hazards for motor vehicles. Vehicle manufacturers are focusing on LED technology for headlights and LED tail lights to improve energy efficiency and longevity. However, challenges remain in battery technology and charging infrastructure for electric vehicles. Halogen lights are being replaced by LED technology, while High-Intensity Discharge headlights and Laser lighting technology like Laser headlights are gaining popularity. Smart lighting systems are essential for enhancing safety during traffic collisions, especially for pedestrians and motor vehicles. Visibility remains a primary concern for all types of vehicles, with front lighting and rear lighting playing crucial roles in ensuring safety on the road. Cooling equipment for LED lights is also a significant challenge in the market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This automotive lighting market report extensively covers market segmentation by  

Vehicle Type1.1 Passenger cars1.2 Commercial vehiclesEnd-user 2.1 OEM2.2 AftermarketGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Passenger cars-  The Automotive Lighting Market is experiencing significant growth due to increasing demand for advanced lighting systems in vehicles. LED technology is driving this growth, offering energy efficiency, longer lifespan, and improved visibility. OEMs and aftermarket players are investing in R&D to launch innovative products, such as adaptive headlights and matrix lighting. Government regulations on vehicle safety are also boosting market expansion. Overall, the Automotive Lighting Market is expected to continue its robust growth in the coming years.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The automotive lighting market is a critical component of motor vehicle safety and design, focusing on providing optimal visibility for car users. Advanced lighting technologies such as LED lights, Indium Gallium Nitride, and Xenon or HID headlights have revolutionized the industry, offering superior brightness, longevity, and energy efficiency compared to traditional Halogen bulbs. Adaptive lighting systems, which adjust to vehicle movements, road tracks, and pedestrian presence, have become increasingly popular in luxury vehicles to enhance safety and driving experience. The integration of smart lighting systems, daytime running lights, and LED tail lights further enhances visibility during traffic collisions, motor vehicle movements, and encounters with road hazards. Vehicle manufacturers continue to invest in lighting technology, integrating cooling equipment and exploring laser lighting technology, such as laser headlights, to improve performance and safety.

Market Research Overview

The automotive lighting market is a dynamic and innovative industry that caters to the lighting needs of various vehicle types, including passenger cars, buses, commercial vehicles, freight trucks, pickup trucks, delivery vans, and two-wheeler vehicles. The market encompasses a wide range of lighting technologies such as LED, Halogen, Xenon or HID, Indium Gallium Nitride, Aluminum Gallium Arsenide, OLED, Matrix LEDs, Laser, and Glare-Free lighting systems. These advanced lighting solutions enhance visibility during vehicle movements, especially in adverse weather conditions or on dark roads, ensuring road safety. They also contribute to vehicle aesthetics and luxury features, including dynamic light sequencing and lighting grille technology. Adaptive lighting systems, such as Dynamic Light System, are gaining popularity due to their ability to adjust to vehicle movements, road tracks, pedestrians, road hazards, and traffic collisions. The market is also witnessing the emergence of specialized lighting technologies, such as Laser and Smart lighting systems, for autonomous driving applications. The market growth is influenced by factors like battery technology, charging infrastructure, per capita income, and energy-efficient lighting solutions. Vehicle manufacturers continue to invest in advanced lighting technologies to improve vehicle safety, visibility, and design flexibility.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Vehicle TypePassenger CarsCommercial VehiclesEnd-userOEMAftermarketGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Competition Bureau publishes report on Canada’s Competition Summit 2024

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GATINEAU, QC, Nov. 14, 2024 /CNW/ – Today, the Competition Bureau published a report highlighting the key takeaways from “Canada’s Competition Summit 2024: Market Dynamics in the AI Era,” which took place in Ottawa and virtually on September 16, 2024.

The event featured experts from domestic and international competition authorities, regulatory bodies, businesses and non-governmental organizations, as well as the legal and academic communities. The discussions focused on:

the current AI landscape;the impacts of AI on competition across markets; and,international and domestic regulatory approaches to AI.

The report published today summarizes 5 key takeaways from these discussions:

AI is having an impact on competition across sectors of the economy, presenting both opportunities and risks.Regulatory frameworks need to adapt to address the unique challenges posed by AI.International cooperation is crucial for effective regulation and enforcement in AI-driven markets.There is a need for transparency in AI systems to ensure accountability and consumer trust.The role of big tech in AI development is contentious.

The Bureau thanks all attendees, panelists and speakers, who helped advance the conversation on these emerging issues related to AI. We look forward to continuing to discuss competition policy issues and opportunities at Competition Summits in the years to come.

Quotes

“As Canada’s competition watchdog, the Competition Bureau needs to be at the forefront of AI and understand its impact on the competitive landscape. I am thankful for the important contributions from our panelists and speakers at this year’s Summit, as they will help us continue to build our understanding of AI’s impacts on competition.”

Matthew Boswell,
Commissioner of Competition

Quick facts

This year’s event was the fifth annual edition of Canada’s Competition Summit. Previous Summits covered digital enforcement (2020), competition and growth (2021), green growth (2022), and whole-of-government approaches to policy (2024).Over 500 participants from Canada and abroad attended the 2024 Summit.This year’s Summit is part of our ongoing work to better understand AI, how it might affect competition, and how we can address potential anticompetitive harm from AI and promote competition in AI markets. This work also includes cross-governmental collaboration through the Canadian Digital Regulators Forum and a consultation on the Discussion Paper on Artificial intelligence and competition earlier in 2024.In keeping with the theme of this year’s Summit, this report was drafted using a combination of human effort and AI technology. This is a first for the Bureau. We used an artificial intelligence program to summarize the discussions held at Canada’s Competition Summit 2024 and to develop the first draft of these key takeaways. The final content was fact-checked and quality-controlled by Bureau personnel.

Related products

Report on Summit 2024: Competition in the AI EraCanada’s Competition SummitCompetition Bureau to host summit on competition and artificial intelligence this SeptemberCanada’s Competition Summit 2024: Competition Bureau releases details about panels and expert participants

Associated links

Exploring policy approaches to unlock competition (2023)The Competition and Green Growth Summit (2022)The Competition and Growth Summit (2021)Digital Enforcement Summit (2020)Artificial intelligence and competition: Discussion paper (2024)Canadian Digital Regulators Forum

General information:

Request for information | Complaint form

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

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Shipt Saves the Season with Unbeatable Convenience, Exclusive Promotions, and Membership Savings

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Get everything from gifts to hosting essentials reliably delivered via Shipt

BIRMINGHAM, Ala., Nov. 14, 2024 /PRNewswire/ — This holiday season, Shipt is spreading cheer with delightful same-day delivery, unmatched deals, and everything customers need all season long. From hosting family dinners to searching for the perfect gifts to grabbing last-minute holiday essentials and toasting to the new year*, Shipt helps ease the stress with exclusive promotions and 50% off its annual membership for a limited time.

To sweeten holiday shopping, Shipt is launching Season of Savings, an annual event packed with discounts and surprises on the products customers want all season long. Plus, Shipt has added over 2,000 new retail locations nationwide this year, including Ulta Beauty at Target, The Fresh Market, Lowe’s, and local favorites like Giant Eagle and Save Mart, giving members even more curated options. These new additions join favorites like Target, CVS, and Petsmart, as well as beloved local grocers.

SHIPT MEMBERSHIP: CONVENIENCE MEETS HOLIDAY MAGIC
Shipt’s $49 annual membership promotion (regularly $99) is now available through January 4, 2025, making it easier than ever to enjoy same-day delivery from your favorite stores. With an annual membership, customers get unlimited same-day delivery on orders over $35 and exclusive savings, and a range of members-only perks.

DEALS ACROSS ALL HOLIDAY NEEDS

In addition to the membership promotion, Shipt’s Season of Savings also features incredible deals across a wide variety of popular holiday categories, including:

Season-Long Deals (November 1-January 1)

$15 off your order of $60 or more with code HOLIDAY15**Half-off annual membership $49 (reg. $99) with code SHIPTGIFT

Thanksgiving Deals

November 10-16, at Target and all grocery stores***:Spend $25, get $10 on household essentialsBuy one, get one 50% off on bath and body productsBuy one, get one 30% off on cough, cold, and flu, pain and fever, vitamins and supplements30% off kitchen and diningSpend $20, save $5 on baby essentials30% off pet essentials10% off turkeyNovember 17-23: $10 off order of $50+ for those with Shipt student membershipsNovember 25-27: spend $35, save $10 on on last-minute Thanksgiving essentials at all grocery stores and Target****

December Holiday Deals

December 1-14: 25% off orders of $40 or more from Ulta Beauty at Target, CVS, Walgreens, PetSmart, Petco, Lowes, Carters, Office Depot, and Office Max (max savings of $10)*****December 8-24: 20% off top gifting categories at Target + Meijer (Shipt members only)******

ALL-NEW GIFT CARD EXPERIENCE
Not sure what to give that special someone? A Shipt gift card is the perfect gift!

A Shipt gift card never expires, and with an all-new digital facelift, including multiple card designs and e-gifting options, a Shipt gift card lasts beyond the holiday season. And even better, take advantage of the season-long 50% off membership offer when purchasing an annual membership gift card. Terms and conditions apply. Please check out shipt.com/gift for more information.

SHIPT TO THE RESCUE: HOW IT WORKS
No matter how hectic the holiday calendar gets, Shipt makes shopping stress-free:

Download the Shipt app or visit Shipt.com to sign up for a membership or take advantage of a 14-day free trial**. Target Circle 360 members can enable access to the Shipt marketplace by visiting shipt.com/target-circle-360. Choose the store you wish to order from.Build your shopping list with a wide range of categories, from fresh groceries to festive decorations.Select a convenient delivery window and a trusted shopper with Shipt will shop your order, communicating with you about out-of-stocks, relevant substitutions and where they are in the shopping process (option to select back-ups for products out of stock ahead of time).

To learn more about Shipt’s holiday offers and start saving today, visit www.shipt.com or download the Shipt app.

About Shipt
Shipt is a retail tech company that connects people to reliable, high-quality delivery with a personal touch. Through the power of technology, Shipt connects customers to the things they want from the stores they love, workers to new earning opportunities, and retail businesses to more satisfied customers. Headquartered in Birmingham, Alabama, Shipt brings people the flexible solutions they need with the above-and-beyond service they expect. Shipt is an independently operated subsidiary of Target Corp. and is available to 80% of the U.S. population. For more information, please visit Shipt’s Newsroom.

*States with alcohol delivery availability: Alabama, Arizona, California, Connecticut, District of Columbia, Florida, Hawaii, Illinois, Kentucky, Massachusetts, Michigan, Minnesota, Missouri, North Carolina, Nebraska, Ohio, Tennessee, Texas, Georgia, Iowa, Idaho and Mississippi

**Offer valid for new customers only, returning customers are ineligible. 14 day trial will renew at the applicable membership rate at the end of the trial. Cancellation available free of charge anytime during trial. Offer is subject to Shipt Promotion Terms and Conditions. Deliveries under $35 with a membership will incur a $7 fee. All orders with alcohol (where available) may incur a $7 alcohol fee. Service fees may apply and will vary by retailer and location. See Terms of Service

***Offer expires 11/16/2024. Discount available at select retailers and applies to select items. Discount applied automatically at check out for qualifying orders. Limit one per order. Promotion is subject to Terms and Conditions.

****Purchase of qualifying products at select retailers of $35 or more must be placed by 11/27/2024 at 11:59 p.m. HT to qualify for $10 off, which will automatically apply to qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

*****Store availability varies by location. Offer valid 12/1/24 through 12/14/24. Carter’s, CVS, Lowe’s, Office Depot OfficeMax, PetSmart, Petco, Walgreens, or Ulta Beauty at Target order of $40 or more must be placed by 12/14/24 at 11:59 p.m. HT to qualify for max savings of $10, which will automatically apply to qualifying order at checkout. Offer not valid for orders containing alcohol items. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

******Purchase of qualifying products at Target or Meijer must be placed by 12/24/2024 at 11:59 p.m. HT to qualify for 20% off, which will automatically apply to a qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

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Kearney Launches Geopolitical Service Line to Give Executives New “One-Stop-Shop” for Navigating Elevated Global Uncertainty

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WASHINGTON, Nov. 14, 2024 /PRNewswire/ — Kearney, a leading global management consulting firm, today announced the launch of its newest offering, aimed at helping clients steer their companies through our ever-changing world. Kearney’s Geopolitical Dynamics provides executives with a holistic solution to navigate today’s elevated instability and its impact on business.

In a new era marked by persistent economic uncertainty, regulatory shifts, great power competition, and corresponding escalations, executives face an unprecedented volume of challenges and new opportunities. A recent Kearney assessment determined that fewer than 20% of Fortune 500 companies are ready for this “new era,” defined by heightened geopolitical and economic volatility, a shift from globalization to regionalization, and the emergence of artificial intelligence.

While traditional geopolitical advisory models served clients well in a more stable environment, today’s persistent uncertainty calls for a new approach. Kearney is stepping up with a comprehensive, end-to-end solution that enables executives to proactively navigate complexity and transform it into a catalyst for opportunity. Geopolitical Dynamics offers clients a path to accelerate the development of their in-house capabilities to navigate the implications for their strategy, operations, and people, mitigating risks and capitalizing on emerging trends along the way.

“After 40 years of operating in a globalized landscape, executives now face the urgent challenge of building internal capabilities to navigate heightened geopolitical instability. They must address immediate threats to business while managing long-term planning of markets, supply chains, and the broader enterprise,” said Drew DeLong, Global Lead of Geopolitical Dynamics at Kearney. “This new service is designed to give executives a one-stop shop to navigate with confidence and stay ahead.”

Geopolitical Dynamics offers a comprehensive suite of services that covers every stage of geopolitical management:

Granular Business Intelligence: Anticipating the “what’s next” and “what’s to come” at a granular level in partnership with an expansive global network of intelligence, government, and industrial partners.

Executive Priority Setting: Aligning executive teams and boards around where and why priorities should be set based on all readily available intelligence and business-specific nuances using tabletop exercises, granular scenario planning, and targeted diligences.

Operational Execution: Mobilizing supply chains and enterprise footprints to respond to immediate and long-term needs (including contingencies), leveraging nearly 100 years of Kearney’s heritage and excellence in strategic operations.

Geopolitical Org Ownership: Defining who and how geopolitics are owned and managed within the business today—at the board, CEO staff, and management levels—including the charting of Geopolitical Units and deploying Government Affairs to drive business outcomes through targeted government engagement that drives competitive industrial strategy.

This approach provides a simple but powerful solution to anticipate, plan, and respond faster to emerging threats and opportunities with clarity, speed, and ownership while minimizing disruption to the business—something that is critical to the executive agenda today.

“Boards and leadership teams can no longer afford to treat geopolitical matters in isolation from the standard course of business,” noted Colette LaForce, independent Board Director, Kearney advisor, and former CXO of Dell Services and AMD. “The C-suite needs a streamlined solution that cuts through generic intelligence, aligns our teams, and enables rapid response. Kearney has built a model that is designed to do just that for organizations of all sizes and in all sectors.”

This offering will draw on Kearney’s expansive capabilities to offer executives truly differentiated insights: product design analysis from PERLab, on-the-ground data from reshoring experts, market insights from the Consumer Institute, detailed trends from the Supply Chain Institute, and macroeconomic forecasts from the Global Business Policy Council.

For more information about how Kearney’s Geopolitical Dynamics capability will help you navigate the road ahead, please visit Geopolitical Dynamics or contact one of our experts listed below.

Drew DeLongDrew.Delong@kearney.com

Doug MehlDoug.Mehl@kearney.com

Ben T. Smith, IVBen.Smith@kearney.com

About Kearney

Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. To learn more about Kearney, please visit www.kearney.com.

Press contact 

US media contact:
Meir Kahtan
MKPR
mkahtan@rcn.com
+1 917-864-0800

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