The size of the automotive ambient lightning market will power at a compound annual growth rate of 9.2% during 2022-2030, to touch a value of USD 7,087.5 million by 2030.
This significant growth of the industry is due to the surging demand for economy vehicles, being the largest users of roof console lights, reading lights, and car body lights.
Moreover, the automotive sector is going from strength to strength in China, South Korea, India and Japan, which were responsible for more than 80% of total vehicle production in APAC and 50% of the worldwide production in 2021.
The LED technology accounted for largest revenue share, of around 71.9%. Surging demand for energy-efficient lightning and lowered LED prices were main factors responsible for this. A LED light consumes half the energy to produce the same amount of light as compact fluorescent lamps and cold cathode lamps.
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This results in less electricity consumption and ultimately reduced CO2 emissions by around 700 million metric tonnes. LEDs do not emit UV rays and are also environment-friendly. Due to these properties, LEDs are used for ambient lighting in automobiles.
For instance, in North America, the surge in passenger automobiles and developments toward autonomous vehicles have led to wide acceptance of advanced lights in dashboards. The requirement for AR systems, enhanced entertainment experience in cockpit, advanced comfort and proper concentration of the driver has fuelled the market growth.
The heads-up display will also grow significantly in the years to come. This is because of surging need for vehicle information display in a way that it does not distract driver.
With the rising demand for personalized illumination that works according to the mood of the person , well-being and character, significant efforts are being made to optimize indoor lightning.
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