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Analysis of the North American Automotive Lighting Technologies Markets
Frost & Sullivan, Sep 2004
Technological Advances Brighten the Automotive Lighting Market
The introduction of new technologies such as high-intensity discharge (HID) headlights, light-emitting diode (LED) rear combination lamps, and third brake lights has improved revenues in the North American automotive lighting technologies market. These products command higher prices as well as volumes since the demand for lighting equipment is driven by the increasing production light-vehicles. The development of adaptive front lighting (AFL) systems, LED-based front lighting, and night vision systems (NV) is likely to boost profits further. These systems have the ability to adjust intelligently to driving conditions and provide superior nighttime vision. Such technological progress has enabled safer, more cost-efficient, and greater penetration of light than ever before.
This Frost & Sullivan research studies the demand in the North American Automotive Lighting Technologies Market. This study considers pessimistic, mid-line, and optimistic forecasts presented as Scenario 1, Scenario 2, and Scenario 3, respectively. Dynamics affecting the market such as trends and challenges faced by the industry are discussed in detail to provide a greater understanding of the future market situation. The geographic coverage of this research is on North America - including the United States, Canada, and Mexico.
Staying Ahead of Trends Key to Survival
It is imperative that market participants be in a position to combat the many market, technology, and regulatory changes taking place in this industry. The market is now operating at a faster pace with shorter product development cycles and technological leaps, states the analyst of this research. Lighting equipment manufacturers find it a challenge to identify a relevant technology strategy not only for products but also for their operations and intellectual capital. The market is highly competitive and margins are minimal. To flourish or even survive in this market, participants must stay a step ahead of trends.
Setting the Pace of Market Growth
Advanced-technology lighting products with their many advantages - greater light penetration, aesthetic appeal, and growing consumer awareness - are likely to continue to make gains. The only question is, at what pace? Development costs for new technologies tend to be significant for manufacturers. Since product development time has become shorter to match the rapidity of new vehicle launches, the cost for the suppliers rises. Success is likely to depend largely on the market participants’ investment in new products and the rate at which they bring prices down. Declining costs allow an increase in take rates for new technologies, concludes the analyst. As more automakers adopt new technologies and systems, lighting manufacturers can continually lower the prices of the products.
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