The global automotive high-mount stop lamp market to grow at a CAGR of 4.38% during the period 2017-2021.
Global Automotive High-Mount Stop Lamp Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The different types of HMSL used in the automobile are light emitting diode (LED), neon lamps, and incandescent lamps.
According to the report, one driver in the market is increase in vehicle production during the forecast period. Innovation in terms of design and technology of the automobile in the automotive industry is a major driver in increasing the overall production of automobiles. As the customer's preferences are dynamically changing, the innovations in the automotive industry ensure that the modifications made in the automobile conform to the required specifications set the customers. Global automobile production is expected to grow at a CAGR of 4.09% from 92.84 million units in 2016 to 113.45 million units by 2021.
One trend in the market is center high-mounted stop lamp camera. The automotive HMSL is a safety device that helps to alert the driver if the vehicle at the rear stops or slows down. It is an essential component in all segments of vehicles as it helps to prevent rear-end collisions. Center high-mounted stop lamp (CHMSL) camera helps to ensure that the driver is benefitted as the driver gets a better view of the rear end of the vehicle.
Further, the report states that one challenge in the market is history of recalls associated with brake light systems. The automotive industry has witnessed tremendous technological advancements in the vehicle. These advancements in terms of design and functionalities of an automobile help to reduce the risk of accidents and provide a safe and comfortable driving experience for the customers at all times. However, these advances lead to complexity in structure, mechanism, and design of the vehicle. Though the automotive industry has seen a shift from conventional braking system to advanced braking technologies with electrification of components, the reliability and durability of such technologically advanced systems can sometimes be a cause of concern for both the auto manufacturers and the customers.
Key Market Trends
Center high-mounted stop lamp camera
Flexible OLED in rear light and transparent OLED as CHMSL