Pune, India, Sept. 07, 2021 (GLOBE NEWSWIRE) — The global automotive interior ambient lighting market size is set to experience dynamic growth in the upcoming years owing to the rising demand for high-end luxury cars around the world, observes Fortune Business Insights™ in its report, titled “Automotive Interior Ambient Lighting Market, 2021-2028”. In recent years, there has been an increasing demand for high-end luxury cars across the world owing to the rising disposable income of the majority of the people. The interior ambient lighting in cars helps to provide safety to the driver of the vehicle especially during the night. These lights provide good visibility of dashboard and instrument panel, which are essential parts of a vehicle while driving. Thus, this is a crucial factor responsible for the growth of this market.
However, the interior ambient lighting requires more power and additional space in the cars, which is projected to restrict the growth of this market.
The COVID-19 pandemic has severely impacted all the major economies and businesses across the world. Due to the increasing lockdown restrictions, the automotive and transportation industry has been severely hit and the demand for automotive interior ambient lighting has declined, posing challenges for the companies in this market.
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On the basis of application, this market is divided into dashboard lights, ambient lights, center stack lights, reading lamps, head-up displays, and dome and map lighting. Based on vehicle type, the market is classified into passenger cars and commercial vehicles. Based on market, the market is divided into aftermarket and OEMs. In terms of technology, the market is categorized into halogen, LED, and xenon. By geography, the market is clubbed into North America, Europe, Asia Pacific, and the rest of the world
The report supplies holistic research, based on primary, secondary, and tertiary sources, on the various factors and trends driving the market. This report also contains a comprehensive understanding of the key market players and their dominant growth strategies. Along with this, the report provides a nuanced segmentation of the market and a thorough analysis of each and every segment. Lastly, the report shares a broad-based study of the regional developments shaping the future outlook of the market.
Rising Adoption of OLED Technology to Fuel the Market
The OLED technology provides better contrast, high brightness, less consumption of power, and other essential features in cars in order to gain comfort and smooth driving experience. Hence, there is an increasing adoption of OLED technology by most of the automotive manufacturers, which is projected to drive the growth of this market.
Rising Production of Luxury Cars to Boost the North America Market Growth
North America region is anticipated to witness significant growth in the automotive interior ambient lighting market share on account of the increasing production of luxury cars in the countries such as the US and Canada.
Asia Pacific region is projected to grow rapidly in this market due to the rising demand for interior ambient lighting from the countries such as India and China.
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Key Players to Strategically Expand Footprint in Emerging Markets
Developing nations across the Asian region are experiencing a significant rise in the demand for interior ambient lighting owing to their easy availability and rising urbanization in various sectors. As a result, the key companies in this market are adopting different strategies to strengthen their footprint in these countries and gain a decisive edge over the rest of the competitors.
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October 2019: Hella GmbH & Co. KgaA developed new Acoustic Vehicle Alerting System (AVAS) for the artificial driving noise for the electric vehicles.
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Global Automotive Interior Ambient Lighting Market Segmentation:
Center Stack Lights
Dome & Map Lightin
By Vehicle Type:
North America (USA, Canada, Mexico)
Europe (Germany, France, U.K., and Rest of Europe
Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
Rest of the world
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