Global Luxury Car Ambient Lighting System Market Will Grow at a CAGR of 12% During 2019-2023 | Technavio
April 15 2019 - 9:08AM
Business Wire
Technavio has announced the release of their research report on
the global luxury car ambient lighting system market for the
forecast period 2019-2023. This luxury car ambient lighting system
market analysis report segments the market by application
(executive luxury cars and super luxury cars) and geography (APAC,
Europe, MEA, North America, and South America).
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The global luxury car ambient lighting
system market will post a CAGR of over 12% during 2019-2023.
(Graphic: Business Wire)
Global luxury car ambient lighting system market size will grow
by almost USD 1.21 billion during 2019-2023, at a CAGR of over 12%.
Ambient lighting improves aesthetics as well as increases the
safety of the drivers by amplifying visibility to systems,
instruments, and control panels during the periods of low
visibility. These features are integrated with other attributes
including climate control, seat heating/cooling, and massaging
functions, that help in reducing power and space consumption in
luxury vehicles. For instance, Mercedes-Benz S-Class has integrated
ambient lighting systems that have 64-hue ambient lighting that
changes according to the car's ambient temperature. The development
of integrated comfort features in luxury cars will have a positive
impact on the global luxury car ambient lighting system market in
the future.
The increasing adoption of configurable
ambient lighting
With constant technological advances, modern ambient lighting
systems are intelligent and interactive. The configurable ambient
lighting system is one such technological breakthrough which is
gaining immense popularity in the market. These systems allow
occupants to adjust the color and intensity of the ambient lights
based on mood and personalized needs. For instance, the Jaguar
F-Type and Jaguar F-Pace offer a configurable ambient lighting
system where a user can choose among colors such as phosphor blue,
pale blue, white, coral, or red to suit different preferences.
These lights require ambient lighting software to personalize the
color and intensity, which increases the cost of ambient lighting
systems thus enabling higher profit margins for manufacturers.
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pages from this report.
“The luxury car market is growing at a significant rate across
the world, in both developed countries such as the US and emerging
markets such as China. Luxury cars offer a higher degree of safety
and security to occupants. Ambient lighting helps keep the driver
focused and improves a vehicle’s interior aesthetics and safety by
making the controls more accessible. Thus, the growing demand for
luxury cars will propel the growth of the ambient lighting system
market during the forecast period,” says an analyst at
Technavio.
View a snapshot of the report for a more detailed
overview of the market and the segmentation covered in this
report
This luxury car ambient lighting system industry research report
provides an in-depth analysis of the major drivers, upcoming
trends, and challenges that will impact market growth over the
forecast period. The report analyzes the competitive landscape and
offers details on several luxury car ambient lighting system
manufacturers including –
- DRÄXLMAIER Group
- FLEX LTD.
- Grupo Antolin
- HELLA GmbH & Co.
- KGaA
- Valeo S.A.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions. Technavio’s report library consists of more
than 10,000 reports covering 800 technologies, spanning across 50
countries. Their client base includes enterprises of all sizes,
including more than 100 Fortune 500 companies.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com