Global Luxury Car Ambient Lighting System Market Will Grow at a CAGR of 12% During 2019-2023 | Technavio

Date : 04/15/2019 @ 3:08PM
Source : Business Wire

Global Luxury Car Ambient Lighting System Market Will Grow at a CAGR of 12% During 2019-2023 | Technavio

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).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190415005074/en/

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.

Request for a FREE sample and get selected illustrations, table of contents, list of exhibits, and example 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.

Please contact our media team at media@technavio.com for more information

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200www.technavio.com

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