The market for Automotive Interior Ambient Lighting Market is expected to reach XX Bn in 2023.
Automotive interior ambient lighting is increasingly popular in the overall automotive industry. Due to the high added aesthetic value to the vehicle, consumers also have an emotional view towards installing ambient lighting in their vehicles. Ambient interior lighting also ensures driver safety as it enhances the effective visibility of the dashboard and other control systems for drivers in low-light of low visibility. Subsequently, automobile manufacturers incorporate ambient lighting as a differentiator for their vehicles.
Ambient lighting has primarily dominated high-end luxury cars for several years. These lighting systems are typically installed on luxury automotive vehicles' instrument panels, door panels, and roof liners. Nevertheless, due to the decline in lighting prices coupled with the demand for more aesthetic and attractive interiors, the trend is increasingly being followed across different classes of vehicles.
Automotive interior ambient lighting systems are intended to deliver appropriate brightness, which increases the overall aesthetic value of the automotive interior along with driver visibility and safety. The market is largely driven by the rising demand for aesthetic lighting and the ever-rising automotive industry. With the advent of technologically advanced lighting systems (e.g., touch-free lighting), the overall market is estimated to continue witnessing strong growth in the coming years.
The report titled "Global Automotive Interior Ambient Lighting Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" offers strategic insights into the global automotive interior ambient lighting market along with the market size and estimates for the duration of 2013–2023. The said research study covers an in-depth analysis of multiple market segments based on technology, applications, vehicle class, and a cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for 2015–2023. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities. In addition, the report covers a section providing an analysis of consumer behavior toward automotive interior ambient lighting.
To help strategic decision-makers, the report also includes competitive profiling of the leading automotive interior ambient lighting manufacturers, their SCOT (Strengths, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Some of the major players profiled in the report are HELLA KGaA Hueck & Co., OSRAM Licht AG, Koito Manufacturing Co., Ltd., NXP Semiconductors N.V., MagnetiMarelliS.p.A., Melexis Microelectronics Systems, Valeo, AGM Automotive, Stanley Electric Co., Ltd., and others. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global automotive interior ambient lighting market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above-mentioned factors.
As of 2015, the LED segment dominates the overall automotive interior ambient lighting market in revenue and adoption. The segment is followed by the halogen and xenon lighting major due to their low costs as compared to LED lighting. The automotive industry has experienced various milestones in lighting technology. Amongst various lighting technologies, LED is one of the most attractive and durable lighting systems used for interior as well as exterior areas of vehicles.
Due to the declining prices of LED lights coupled with sophisticated designs, the segment has been witnessing a substantial rise in overall adoption. The LED lighting segment is estimated to register the highest growth rate in the coming years. These lights offer high energy savings and have a longer life compared to various other lighting systems. This is the prime factor responsible for the high estimated penetration of LED in the coming years. LED lighting systems are capable of delivering appropriate brightness and, hence, offer visibility and safety to the driver.
As of 2015, the automotive interior ambient lighting market worldwide was dominated by the Asia Pacific region. The segment contributed to over one-third of the total revenue generated in 2015. The most significant factor contributing to the large revenue share is the huge automotive industry in the region. The market here is largely governed by China, Japan, South Korea, and some Southeast Asian countries. India, too, is becoming lucrative for the automotive interior ambient lighting market due to the rising penetration of high-end cars in the country.
Europe and North America followed Asia Pacific in terms of revenue in the global automotive interior ambient lighting market. Europe comprises a large number of automotive lighting manufacturers, thereby supporting the market's growth. The region is home to leading companies in overall automotive lighting, such as OSRAM, Hella, and others. Nevertheless, Asia Pacific is estimated to retain its dominant position in the market throughout the forecast period.FIG. 1: Global Automotive Interior Ambient Lighting Market: Research Methodology
The overall automotive interior ambient lighting market is led by the passenger vehicle segment, contributing more than 50% of the total market revenue. Automotive interior ambient lighting is predominantly used across high-end vehicles to enhance the aesthetic value and class of the vehicles. Due to the rising purchasing power of people worldwide, the demand for medium and high-end passenger cars has been witnessing robust growth for the past few years.
Car manufacturers are now focused on providing attractive interiors in high-end and medium-end cars. Similarly, there can be observed a trend among consumers towards buying aesthetic aftermarket accessories (including lighting) for enhancing the overall vehicle interior. Consequently, the passenger vehicle segment will continue dominating the market throughout the forecast period.
The market for Automotive Interior Ambient Lighting Market is expected to reach XX Bn in 2023.
The Automotive Interior Ambient Lighting Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted from 2016-2022.
The base year of this report is 2015.
HELLA KGaA Hueck & Co.,OSRAM Licht AG, Magneti Marelli S.p.A., NXP Semiconductors N.V.,Valeo SA are some of the major players in the global market.