Future Market Insights (FMI), in its recently published report, suggests that the sales of automotive interior ambient lighting systems reached ~2.7 million units in 2018, equating the revenues worth US$ 28 Bn. As fuel efficiency, low emission, and high performance can no longer suffice the evolving vehicle selection criteria of consumers, automakers continue to face pressure of implementing multifaceted strategies, covering comfort, style, and aesthetics.
Future Market Insights (FMI) has estimated the automotive interior ambient lighting system market to grow with a year-on-year growth of 4.1% in terms of value in 2022 reaching a value of about US$ 3,066.0 Mn by 2022 end.
The study finds that manufacturers are being considerate of the fact that interior ambient lighting can be made ‘functional’ by influencing the mood, circadian rhythms, and alertness of drivers, thereby enhancing the night-driving safety and appreciation of vehicles.
The worldwide automotive interior ambient lighting system market is mainly driven by growing automotive fleet and advancement in automotive sector. The global business is anticipated to witness a considerable CAGR of 5.4% by value during the period of 2022 and 2030.
East Asia market is expected to dominate the global automotive interior ambient lighting system market in terms of revenue in 2022, and is projected to grow significantly throughout the forecast period. East Asia automotive interior ambient lighting system market is the most prominent market, growing at a CAGR of 5.6% by volume over the forecast period.
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Once developed exclusively for luxury auto models of Audi, Infinti, Mercedes, BMW, and Jaguar, automotive interior ambient lighting systems are rapidly becoming ubiquitous in the mid-range and economical vehicles as well. In addition to rendering an extra aesthetic appeal to vehicle models, ambient lighting systems are now being designed for driver’s assistance in terms of orientation, which marks a highly profitable trend in market.
OLED to Illuminate the Road Ahead, Replacing LED and Incandescent
Innovation is likely to come thick by fast replacing the incandescent lights with the penetration of LED technology for the development of automotive interior ambient lighting systems. The study finds that the adoption rate of LED-based lighting systems will act as a key differentiator since they consume substantially lesser energy than incandescent and halogen lights of equivalent brightness and delay the impact of time. As automotive industry operates within the confined boundaries of regulations, environmentally-benign OLED lights will illuminate the future of the automotive interior ambient lighting systems market.
The study finds that in the future, the options will turn more sophisticated with the surfacing of autonomous vehicles and IoT technology to keep the focus of drivers intact. In addition, issues of power failure encountered with the integration of wired lightings have been leading to the development of battery-operated wireless lighting systems, which is likely to remain well-appreciated by technologically-abreast consumers. As automakers prioritize on the development of interior ambient lighting systems by keeping consumers at the centre, integration of gesture-recognition ambient lighting systems is anticipated to make an attractive preposition.
In the consolidated landscape, automakers are braced to tune the competition frequency to the next level by targeting consumers’ proclivity for premium and visually-appealing vehicles. Manufacturers focus on optimizing their innovation capability by blending the best of the competencies for enhancing the features of interior ambient lighting systems. However, as quality comes at a cost, counterfeiters operating in the automotive interior ambient lighting systems landscape find the leeway to offer low-quality systems at a cheaper rate. The trends have especially been observed in the developing countries of East Asia and South Asia, which is a crucial concern for automakers to address and bridge the gap to reach out to more consumers with authentic lighting systems.
The report opines that on the backdrop of environmental thinking adopted by automakers, advent of electro-mobility will lead the movement to high sales opportunities. In addition, as consumers gain intellect apropos of the safety features of automotive interior ambient lighting systems, the future of vehicles is likely to stand tall at the intersection point of aesthetics and safety.
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Key Segments
By Technology
- LED
- Others
By Vehicle Type
- Compact
- Sedan
- Executive
- SUV/MUV
- Luxury
- Sports
- LCV
- HCV
By Application
- Centre Console and Dashboard
- Doors
- Roof
- Floor
- Others
By Sales Channel
- OEM
- Aftermarket
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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Automotive Interior Ambient Lighting Systems Market – Key Research Findings
- The global automotive interior ambient lighting systems market size in 2018 was ~US$ 3 Bn.
- The automotive interior ambient lighting systems market is expected to grow at a CAGR of ~6% during the forecast period of 2019-2029.
- Besides the growing trend of customization for interior ambient lightings among customers, availability of a variety products has been recently driving the sales of automotive interior ambient lighting systems.
- Collectively, East Asia, North America, and Europe are likely to account for half of the revenue shares in the automotive interior ambient lighting systems industry by the end of 2029.
- North America, attributing to the robust automotive industry in the U.S., will continue to be a prominent regional market for automotive interior ambient lighting system manufacturers.
- The centre console and dashboard segment is expected to remain a prominent application area to invest in, for automotive interior ambient lighting systems market players.
- The automotive industry has witnessed significant growth over the recent past, and the revival of interior lighting systems has been particularly striking.
- Significant application potential of automotive interior ambient lighting systems has been identified in the doors lighting category.
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/Automotive-Interior-Ambient-Lighting-Systems-Market
Press Release Source: https://www.futuremarketinsights.com/press-release/Automotive-Interior-Ambient-Lighting-Systems-Market
