The lighting system of any automobile consists of lighting and signaling devices that are mounted or assimilated to the front, side, rear, and also in some cases to the top of a vehicle. This further lights the roadway for the driver and hence increases the range of visibility of the vehicle, letting other drivers and pedestrians see the presence of a vehicle's position, the direction of travel, size, and the driver's intentions about the direction and speed of travel. Likewise, emergency vehicles generally carry unique lighting equipment so as to warn the drivers and thereby indicating the priority of movement while in traffic. Similarly, the rear-lighting systems have become more complex, mechanical, and engineers from the optical, electrical and manufacturing streams face new challenges while designing these new systems. Therefore due to the modern rear-lighting solutions, the activities of the other drivers are becoming more and more predictable in all kinds of environments and hence making driving much safer. The rear light of cars serves as a warning for the other vehicles that a vehicle is ahead. These rear lights especially help during low-visibility conditions. It also permits other drivers to accurately estimate the other car's size and shape as well.This growth is primarily driven by An Increase in Disposable Income, Improved Lifestyle, and Changing Preferences of Consumers Have Greatly Impacted the Sales of Cars across the Globe
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|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Auto Parts & Equipment sector in the region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region.
Major Vendors, such as OSRAM GmbH (Germany), Infineon Technologies (Germany), The Morey Corporation (United States), Lambert Enterprises LLC (United States), Koninklijke Philips N.V. (Netherlands), Proline Automotive Guam (United States), DENSO Corporation (Japan), Hyundai Mobis (South Korea), ZKW Group GmbH (Austria), HELLA GmbH & Co. KGaA (Germany) and Hilux Autoelectric Pvt. Ltd. (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2023, Infineon Technologies AG acquired Stockholm-based startup Imagimob AB. This acquisition strengthens Infineon's position to offer world-class machine learning (ML) solutions and significantly complements its AI offerings. Imagimob provides an end-to-end machine learning toolchain that is highly flexible and easy to use, with a focus on delivering production-grade ML models. Infineon acquires 100% of the company's shares. Both parties have agreed not to disclose the transaction amount.
In February 2021, Hyundai Mobis developed the world's first HLED that can be flexibly bent like a thin film. The thickness of the LED surface is now only 5.5 mm, allowing one LED to act as both a brake light and a tail light. Hyundai Mobis named the new rear lamp system HLED, which means high performance, high definition, and homogeneity.The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Ever-Evolving Consumer Preferences, Coupled with Increasing Mandates Has Led to the Incorporation of Advanced Technologies and Solutions into Automobiles is Attracting Automakers and Greater Technology Giants
Market Growth Drivers:
An Increase in Disposable Income, Improved Lifestyle, and Changing Preferences of Consumers Have Greatly Impacted the Sales of Cars across the Globe and Growing Consumer Demands For Smooth, Lightweight, And Functional Vehicles Is Fueling Innovation In Every Vehicular Component, Including Automotive Rear Light
The Volatility of Raw Material Prices
The High Cost of LED Lights Is A Key Concern For The Automotive Rear Light Market
Major Automotive Light Manufacturers Have Joined Forces with OEMs to Design a New Product and OEMs Equip the Vehicles With Advanced Lighting Technologies, Customized as per Designing Standards
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automotive Rear Lights Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automotive Rear Lights Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automotive Rear Lights players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automotive Rear Lights Study Sheds Light on
The Automotive Rear Lights Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Rear Lights industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Rear Lights industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.