Low Power Wide Area Network Market Size Hit USD USD 4.13 Billion at a CAGR of 8.8% in 2028 | Magneti Marelli S.p.A, Varroc Engineering Limited
Technological advancement associated with automotive headlights coupled with increasing demand for premium cars are likely to stimulate demand.
Market Size –
USD 2.11 Billion in 2020, Market Growth - CAGR of 8.8%, Market Trends –
Technological innovation within automotive lighting industry
The global Automotive
Adaptive Headlight market is expected to reach USD 4.13 Billion by
2028, according to a new report by Reports and Data. Technological innovations
associated with automotive lighting industry are anticipated to stimulate
market demand. For example, a technology known as ‘laser matrix’ is
improving the safety of high-beam driving. The technology combines laser
lights, digital light processing and micro mirrors into a lighting architecture
that has both light and dark zones. The system automatically masks-out areas in
front of the vehicle, such as on-coming cars, to avoid blinding drivers and
pedestrians; and intensifies light into traffic signs or dangerous situations.
However, high price of raw materials is expected to affect
market growth. The need for more energy efficient lighting and high
performance lighting technologies has increased the demand for certain
materials considered critical in LED industry. The demand has led to an
increase in raw material costs which has in turn resulted in a upsurge of price
increase through the LED lighting industry
North America is expected to be a key revenue generating
region in the forecast period. The market is projected to grow at a CAGR of
8.1% in the forecast period. Factors such as technological advancements and
increasing need for safety and security are the major drivers for the
automotive adaptive headlight market. Energy efficient LED lighting sources are
gaining popularity among vehicle owners due to the need for improved visibility
during night and in extreme weather conditions. This has influenced the
automakers to deploy LED lights in their vehicles.
Key participants
include Magneti Marelli S.p.A, Varroc Engineering Limited, HELLA Group, SL
Corporation, Stanley Electric Co., Ltd, Koito Manufacturing Co., Ltd. and
Valeo. Koito Manufacturing Co., Ltd is a key player in the Automotive Adaptive
Headlight market. With a global presence in North America, Asia, Europe, and
Brazil, the company offers a wide range of automotive lighting and accessories
including LED headlamps, Fog lamps, Halogen headlamps and LED rear combination
lamps among others.
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Market Overview:
The research report
assesses the market dynamics, market landscape, company profiles, production
and manufacturing capacity, year-on-year growth rate, SWOT analysis, and
Porter’s Five Forces analysis. The report estimates the market size, market
growth, and provides an accurate forecast for the key segments of the market
for the forecast period of 2020-2028. The report also covers an in-depth
analysis of the key competitors of the market, along with their growth
strategies and business expansion plans.
The Low
Power Wide Area Network Markethas
been segmented into key regions of the world and offers an analysis of growth
rate, market share, market size, current and emerging trends, production and
consumption ratio, industrial chain analysis, demand and supply, import and
export, revenue contribution, and presence of key players in each region. A
country-wise analysis of the market is offered in the report to gain a better
understanding of the regional spread and progress of the Automotive
Adaptive Headlight Market.
Further key findings from the report suggest
- Two-wheelers
vehicle is projected to be one of the fastest growing application of the
Automotive Adaptive Headlight market. The segment is projected to grow at
a CAGR of 6.3% in the forecast period. The major contributors to the
demand of two wheelers are the countries in Asia-Pacific region which will
continue to dominate the worldwide demand in future.
- North
American market is forecasted to grow at a CAGR of 4.5% in the coming
years. The United States has one of the largest automotive markets in the
world, and is home to many global vehicle and auto parts manufacturers.
U.S. light vehicle production reached almost 12 million passenger vehicles
in 2016. Light vehicle sales reached 17.5 million units in 2016.
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For the purpose of this report, Reports and Data have
segmented global Automotive Adaptive Headlight on the basis of products,
systems, application and region:
Product Outlook (Revenue, USD Billion, 2018-2028)
- Halogen
Headlight
- Xenon
Headlight
- LED
Headlight
- Others
System Outlook (Revenue, USD Billion, 2018-2028)
- Highway
Light
- Rural
Lights
- High
Beam
- Bend
Lighting
- Adverse
Weather Lights
Application Outlook (Revenue, USD Billion,
2015-2026)
- Floor
Passenger Vehicles
- Light
Commercial vehicles
- Trucks
and Buses
- Two-wheelers
- Others
Regional Outlook (Revenue, USD Billion, 2018-2028)
- North
America
- U.S.
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- MEA
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Key Advantages of Low
Power Wide Area Network Market Report:
- Identification
and analysis of the market size and competition
- Qualitative
and quantitative analysis of the market data
- Data
validated by industry experts after extensive primary and secondary
research
- Extensive
regional analysis of the Low
Power Wide Area Network industry
- Profiling
of key players along with their business overview, business strategies,
deals and partnerships, and product portfolio
- SWOT and
Porter’s Five Forces Analysis for in-depth understanding of the
competitive landscape
- Feasibility
analysis and investment analysis to enable strategic investment decisions
- Analysis
of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Low Power Wide Area
Network Market are quantitatively as well qualitatively assessed to study the
global as well as regional market comparatively. This market study presents
critical information and factual data about the market providing an overall
statistical study of this market on the basis of market drivers, limitations
and its future prospects.
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