The
automotive lighting market is
expected to grow by USD 8.69 billion during 2020-2024, according to the latest
market research report by Technavio.
Automotive interior lights enhances the visual appeal of
vehicles. These lights accentuate the space and create a perception of
increased cabin space in vehicles. In May 2015, Chevrolet introduced the
concept of dynamic internal lighting for its Camaro 2LT and Camaro SS models
with its interior spectrum lighting. This lighting system offers 24 diverse
lighting effects in vehicle interiors, including dashboards, door panels, and
cup holders. Ambient lighting in an automotive cabin highlights the texture of
the seat and mimics the feel of a premium vehicle. Vehicle manufacturers have
been increasing the number of light sources in their vehicles to attract
buyers. Thus, the increase in the use of interior lighting, also in mid-segment
cars, is expected to drive the demand for automotive lighting during the
forecast period.
As per Technavio, the development of autonomous vehicles will
have a positive impact on the market and contribute to its growth significantly
over the forecast period. This research report also analyzes other significant
trends and market drivers that will influence market growth over 2020-2024.
Automotive Lighting Market: Development Of Autonomous Vehicles
Companies such as Delphi, Continental, Bosch, Daimler, Scania,
and Volvo are working toward expanding the autonomous driving concept.
Campaigns and promotions have widened the market acceptance of semi-autonomous
features in passenger and commercial vehicles. Self-driving cars may become a
reality toward the end of the forecast period, and in a decade, a sizeable
number of self-driving vehicles are estimated to ply on the road. The mentioned
prominent automotive vendors have reached advanced levels in their research on
autonomous vehicles. In addition, the development and testing of a wide gamut
of features in advanced driver-assistance systems (ADAS) and
telematics/connected vehicle applications and services are estimated to increase.
As a result, the demand for automotive lighting market is also expected to
increase, which will drive the growth of the market during the forecast period.
Automotive Lighting Market: Segmentation Analysis
This market research report segments the automotive lighting market by
application (passenger cars and commercial vehicles), and geography (North
America, APAC, Europe, South America and MEA).
The APAC region led the automotive lighting market in 2019,
followed by Europe, North America, South America and MEA. During the forecast
period, the APAC region is expected to register the highest incremental growth due
to factors such as the increase in demand for LED lighting systems and the rise
in automotive production.
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