Automotive Laser Headlight System Market value is set to grow by USD 8.48 billion

The Automotive Laser Headlight System Market value is set to grow by USD 8.48 billion, progressing at a CAGR of 39% from 2020 to 2025, as per the latest report by Technavio. Moreover, the Y-O-Y growth of the market in 2021 is estimated to be 26.47%.

The automotive industry has witnessed several innovative products in the lighting segment since the adoption of incandescent lights.

OLEDs are the advanced versions of LEDs and are more flexible, energy-efficient, and thin. They can emit different colors compared with LEDs. They can be used as signal lights, taillights, and interior lights in vehicles. Audi is the frontrunner in the adoption of LED lighting technology. The vendors in the market have increased their investment in R&D of technologies such as OLED and laser lighting panels. They are motivated to invest in R&D to develop technologies for cost-effective production, considering the significant potential of the market. Moreover, vendors are developing technology standards for every product through an effective R&D process.

Laser diodes are ideal to be used in EVs as they consume some of the least amounts of energy (other than the cooling power required) to operate. This allows their use without any significant impact on the charging cycles of EVs. Hence, the growing adoption of EVs across the world will act as a crucial factor for the rising demand for automotive laser headlight systems.