Automotive Lighting Market 2022: Global Industry Brief Analysis by Growth Opportunities, Progression Status, Growth Factors and Trends By Forecast 2028

Automotive lighting Market has witnessed some interesting trends over the past few years. With constant technological innovations in the field, it has become a global megatrend. Leading players in the race are aiming to deliver enhanced performance, improved safety, and an aesthetic design. Meeting functional as well as aesthetic needs of car owners is a key focal point of ongoing research and development efforts.
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One of the highly lucrative verticals within the automotive and transportation space, global automotive lighting market size is projected to be worth more than US$38.5 billion by 2026, driven by the need for sustainable solutions and constant technological advances in the field.
Prominent use of LED technology in automotive lighting 
For several years now, LED technology has been increasingly finding its way into vehicle lighting. With robust technological developments, LEDs have become brighter, more energy efficient, and cost effective.
Although LEDs have been prominently used in headlights, rear lighting, and side lighting applications, their use as general ambient interior lighting has started to garner momentum in recent years. An ambient lighting provides drivers with a sense of spaciousness and orientation as well as feelings of safety and comfort. Ambient LED lighting solutions are now being widely incorporated into innovative brake and turn lighting applications, occupancy detection, backlight displays, night vision, and others.
Leading automakers are extensively incorporating innovative LED lighting solutions into future models. Recently for example, In October 2020, Nissan unveiled its new subcompact SUV Magnite, which features L-shaped LED DRLs, LED bi-projector headlamps, split wraparound LED tail lamps, LED fog lamps, and ambient LED interior lighting.
Recent trends in automotive lighting industry haven been largely based around making driving safer. However, this has introduced the need for certain sophisticated and complex technological modifications, creating new design challenges for manufacturers. To overcome these challenges, major players are aiming to expand their research and development capabilities.
Citing a recent instance, in February 2020, Marelli had set up a new research and development center in Turin, Italy to accelerated advances in vehicle lighting technologies, sensors, and body electronics.
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Some key challenges that manufacturers may face in the future 
General Electric Company, Samsung Electronics Co. Ltd., Magneti Marelli S.p.A., Koninklijke Philips N.V., ZKW Group, Hyundai MOBIS, OSRAM Group, Valeo, Stanley Electric Co. Ltd., Namyung Lighting, Koito Manufacturing Co. Ltd., and HELLA GmbH & Co. KGaA are among the prominent names in the market. 
In a world of rapid technological advancements, automotive lighting manufacturers will need to constantly innovate to stay ahead. However, excessive research and development costs and complexity in designing cutting-edge lighting solutions will be a major hurdle for these companies. High raw material costs may further increase the overall design and manufacturing cost. In addition, difficulty in availability of raw materials due to the COVID-19 pandemic and subsequent supply chain disruptions has been a major roadblock to automotive production worldwide.
Nonetheless, market players are poised to witness promising opportunities in the upcoming years, with increasing production of luxury cars in European countries and a booming automotive sector in Asia Pacific. Furthermore, increasing concerns regarding road safety and the introduction of stricter legislation to ensure optimum safety for drivers, passengers, and pedestrians will augment future automotive lighting market trends.
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