Industry Outlook and Trend Analysis
The Automotive Ambient Lighting Market was worth USD 2.97 billion in 2014 and is expected to reach approximately USD 4.53 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.81% during the forecast period. LEDs are used as normal ambient lighting. Ambient lighting is a backhanded interior radiance that renders the driver a feeling of spaciousness and alignment and in addition sentiments of security, feeling of pretentiousness in esteem and in addition comfort. To diminish driving exhaustion ambient lighting gives an environment that consolidates together interior and exterior lighting conditions for the driver. The usage of ambient lighting inside the vehicles makes the lodge appealing yet in addition expands the security and the nature of auto. Ambient lighting comprises of inventive turn-lighting and brake lighting, occupancy detection, night vision, backlit displays, and many more.
Product Type Outlook and Trend Analysis
On the basis of product type the market is segmented into OEM Product and Aftermarket Product. The usage of ambient lighting inside the vehicles makes the cabin attractive but also elevates the security and the quality of car.
Application Outlook and Trend Analysis
Based on application the market is segmented into Sedan, SUV and Others. The critical factors that are playing the significant role in the development of automotive ambient lighting market are increased production of vehicles, strict regulations pertaining to the safety of the driver, advancements in technology and increasing demand for comfort particularly from the developing countries.
Regional Outlook and Trend Analysis
Geographically, Asia Pacific region accounted for the biggest market share of the Automotive Ambient Lighting Industry and is anticipated to continue dominating over the forecast period; this is mainly owing to the presence of major players of automotive ambient lighting systems. On the other hand, Europe is the second biggest region to manufacture automotive ambient lighting systems overall the globe.
The major players in the market are Zizala Lichtsysteme GmbH, Hella India Automotive Pvt Ltd, ICHIKOH INDUSTRIES LTD, Magneti Marelli, Stanley Electric, KI Holdings and GE Lighting. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Automotive Ambient Lighting Market is segmented as follows-
By Product Type:
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?