Market Assessment Study on the Automotive Lighting Market: Benchmarking Product and Sales Strategies
The global automotive industry is on the verge of disruption. Digitization and increasing automation have revolutionized other industries, and the automotive industry is no exception to such a revolution. Lighting is crucial for a vehicle to travel along roads during dark. Besides improving visibility during bad weather conditions and darkness, automotive lighting also increases the […]
The global automotive industry is on the verge of disruption. Digitization and increasing automation have revolutionized other industries, and the automotive industry is no exception to such a revolution.
Lighting is crucial for a vehicle to travel along roads during dark. Besides improving visibility during bad weather conditions and darkness, automotive lighting also increases the conspicuity of a vehicle. The rising demand for vehicles and the subsequent growth in automotive production will give significant impetus to the growth of the global automotive lighting market in the coming years.
Indeed, the connected car revolution is already large and growing rapidly. But a tension is building between the incumbent automotive lighting players and a new wave of companies supplying the supporting the components, infrastructure, and new business models from outside the automotive industry. Additionally, automotive lighting industry players must enhance the digital capabilities of their skills and workforces to maximize the success of connected cars. Furthermore, leading automotive lighting manufacturers are rethinking their strategies in response to the pressures generated by intensifying competition, new global consumers, and state regulations.
- The client: An automotive lighting manufacturer
The client, a leading manufacturer of automotive lighting based out of the US, wanted to understand the market landscape for automotive lighting components. The client was losing market shares due to increased competition. As a result, they wanted to understand the market dynamics, assess and analyze current versus future market size, market development prospects, and growth rate. Moreover, an assessment of the market landscape would help the client identify potential growth opportunities, technology trends, and the target regions under focus.
How Can Market Assessment Study Help Companies in the Automotive Lighting Market?
Market assessment solutions help firms identify the best-fit market for the idea, gain early and sustainable competitive advantage prior to concept development and product build-out, and to estimate the market size and ascertain the earnings potential of the product offerings.
Summary of our competitive intelligence solution?
To help the client assess the market landscape of the automotive lighting industry, Infiniti’s market assessment specialists followed a comprehensive research methodology comprising of interviews and discussions with prominent stakeholders in the automotive industry. The specialists also relied on syndicated research reports, sales and marketing reports, relevant websites, and company publications to perform a detailed analysis of automotive lighting components market.
The Solution Benefits and the Business Impact
Infiniti’s market assessment specialists helped the automotive lighting manufacturing client to derive an in-depth understanding of the current share and forecast of the automotive lighting components market with the help of a robust SWOT analysis. The client also benchmarked product strategy, sales strategy, technical advantages, and customer resources. This helped them build a logical metric, which correlates with the demands of target products.
Today, automotive industry firms are looking at lighting solutions to create an identity for their brands. The LED lighting technology brings more flexibility to the design front and rear lighting systems. Demand for these systems is increasing due to the growing awareness among consumers regarding the importance of adaptive lighting solutions such as dynamic bend lighting and glare-free high beam.