PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401792
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401792
Automotive Interior Ambient Lighting Market size was valued at USD 3,900 Million in 2022, expanding at a CAGR of 11.3% from 2023 to 2030.
Vehicles with dynamic ambient lighting appear to employ light as a visual signal. Its highly controlled system is made possible by the employment of smart LEDs. Ambient automobile lights provide qualified lighting and design freedom by producing eye-catching, durable, and useful external and interior illumination.
Automotive Interior Ambient Lighting Market- Market Dynamics
Increasing demand for LEDs and advancement in dashboard infotainment system to propel market demand
Ambient lighting makes a car look more appealing and contributes to a reasonably priced, fashionable interior. Additional advantages of automobile ambient lighting include enhanced convenience, comfort, and safety for drivers. Additionally, it provides a motorist with improved visual comfort when driving at night so they can recognize the instrument panel and dashboard. Additionally, it brightens the passenger cabin so that people can read at night. Adopting LED technology has advantages including lower power consumption, increased lifespan, and compactness. However, there are certain limitations to LED technology, including limited angle light emission and low light intensity (per LED). These factors force LED producers to set up LEDs in series to create the required ambient lighting system. This results in high demand for interior lighting over the forecast period.
Automotive Interior Ambient Lighting Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.3% over the forecast period (2023-2030)
Based on Application segmentation, dashboard was predicted to show maximum market share in the year 2022, owing to high demand for passenger cars, SUVs, etc.
Based on Distribution Channel segmentation, OEMs segment was the leading type in 2022, mainly due to presence of large number of OEMs.
Based on Vehicle Type segmentation, conventional cars was the leading type in 2022, mainly due to rise in the demand from SUVs and passenger cars.
On the basis of region, Asia Pacific was the leading revenue generator in 2022, owing to growing automotive industry across countries like China and India.
The Global Automotive Interior Ambient Lighting Market is segmented on the basis of Application, Distribution Channel, Vehicle Type, and Region.
The market is divided into four categories based on Application: dashboard, footwell, door, and others. The dashboard dominates the market. The increased adoption in LEDs, lights in dashboard system is expected to boost the market growth.
The market is divided into two categories based on Distribution Channel: OEMs and aftermarket. The OEMs dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to the high demand for lighting system form OEM manufacturing.
The market is divided into two categories based on Vehicle Type: conventional cars and green cars. The conventional cars dominate the market and is likely to maintain its dominance during the forecast period. Green cars are expected to witness significant growth in the coming years with rising EV adoption.
Automotive Interior Ambient Lighting Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
There are many players in the highly concentrated automotive interior ambient lighting market. The presence of major luxury vehicle manufacturers such as Audi, Mercedes Benz, BMW, and Volkswagen will foster industry growth. To introduce new light products and extend their current product lines, market players are investing a large amount of money in new product development and employing a multitude of cutting-edge technology. Moreover, these companies adopt a range of growth strategies, such as mergers, acquisitions, partnerships, and collaborations, to boost sales and strengthen their position in the market.
In December 2021, AMS OSRAM introduced the Oslon Black Flat X family of LEDs which is one of the brightest LEDs in the market.
In December 2021, Toyoda Gosei Co., Ltd. Manufactured new full-color LED lamps, which determine the infusion of the vehicle interior with different color lights.
The scope of this report covers the market by its major segments, which include as follows: