LG Innotek, a prominent manufacturer of electronic components headquartered in Seoul, South Korea, has disclosed plans to expand its footprint in the global automotive lighting module market. The company’s innovative ‘Nexlide’ (Next Lighting Device) has achieved remarkable success, with 146 cumulative orders and a 47% annual average sales growth.
The ‘Nexlide’ is a flexible 3D lighting module tailored to meet the evolving demands of future mobility. It has attracted significant attention from top-tier car manufacturers worldwide seeking to distinguish their brands through advanced automotive exteriors.
One of the key advantages of the ‘Nexlide’ is its versatility in various areas of a vehicle, including daytime running lights and rear combination lamps. The product line has evolved over time, and the latest model, ‘Nexlide-M’, boasts a 30% reduction in thickness compared to existing products.
The development of ‘Nexlide’ has also transformed the efficiency and power consumption of automotive lighting. Its brightness has quadrupled, and the module itself has become 30% slimmer. This improved performance allows for greater design flexibility and enhanced energy efficiency, especially in electric vehicles (EVs).
In line with the increasing role of vehicle lights in modern automobiles, LG Innotek is also working on the development of ‘Pixel Lighting’ designed to support vehicle-to-vehicle (V2V) and vehicle-to-pedestrian (V2P) communication. The company aims to complete the development of this innovative lighting solution by 2025.
Byaeng kuk Yoo, the head of LG Innotek’s electronic component business division, has expressed the company’s commitment to providing differentiated customer value and nurturing the vehicle lighting module market into a trillion-dollar business. This ambition is bolstered by industry analysts, with a global market survey agency forecasting the automotive lighting market to grow from 21.9 billion USD in 2022 to 32.1 billion USD by 2030.
LG Innotek’s dedication to innovation and quality has solidified the company’s position as a key player in the automotive lighting module market, and its continued focus on cutting-edge solutions such as the ‘Nexlide’ and ‘Pixel Lighting’ is set to drive further growth and leadership in the industry.
As the demand for advanced lighting solutions continues to grow in the automotive sector, LG Innotek’s strategic vision and technological expertise are expected to be pivotal in shaping the future of vehicle illumination. With its unwavering commitment to excellence, the company is well-positioned to capitalize on the multi-trillion dollar opportunity presented by the global automotive lighting market.