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Automotive Ambient Lighting Market Revenue To Surpass $7,087.5 Million by 2030, finds P&S Intelligence

NEW YORK, June 20, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, the revenue of the automotive ambient lighting market was $3,203.8 million in the year 2021, and it will reach $7,087.5 million by the year 2030, at a compound annual growth rate of around 9.2% in the years to come. The Asia-Pacific market is mainly driven by the growing demand for economy vehicles, which are the major users of roof console lights, reading lights, and car body lights.

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The LED technology generates around 72% of the revenue in the automotive ambient lighting market. The growing need for LED lighting solutions has developed into a prominent market tendency since it uses 50% less energy to generate the same intensity of light as CFLs and CCFLs. The reduced electricity use can directly decrease yearly CO2 emissions by approximately 700 million metric tons. Additionally, LEDs do not release UV rays and are environment-friendly. Because of these properties, LEDs have become progressively feasible for ambient lighting.

Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/automotive-ambient-lighting-market/report-sample

Dashboard lights will dominate the automotive ambient lighting market in the years to come, observing the fastest growth, of about 10%. With the increase in the demand for ambient lighting because of the rise in the focus on luxury and comfort, ambient lights are being rapidly integrated into dashboards.

North America, the third-highest-revenue-generating automotive ambient lighting market, was valued at $633.9 million in the year 2021, and it is expected to touch $1,343.4 million in the coming years, growing with a rate of 8.7%. The measures of the government to inspire the acceptance of connected and self-driving cars will propel the installation of ambient lighting systems in the region.

Previously, the functional usage of automobile interior illumination was kept on priority, with people majorly focusing on decent orientation and visibility. With the rising necessity for interior lighting, mood, comfort, and charisma are considered. This is attributed to the increasing need for tailored lighting that changes as per the preferences of different people.

Browse detailed report on Automotive Ambient Lighting Market Size, Trends, Emerging Opportunities, And Top Key Players By 2030

A higher accumulation of emotional and functional features in automobiles will be the norm in the future. Nearly no part of the car's inside will be ignored, with the main purpose to make added value in the lighting through functional, emotional, and aesthetic characteristics.

Therefore, the stalwarts of the automotive ambient lighting market are intent on making better-quality and progressive display solutions. For example, Panasonic Corporation proclaimed that Mitsubishi Outlander had collaborated with the former's automobile division in May 2021 to incorporate a big-screen windshield HUD into the latter's forthcoming SUV. Panasonic's HUD makes use of lens design and molding methods initially fashioned for digital cameras, along with a high-precision mirror.

Automotive Ambient Lighting Market Segmentation Analysis

By Product Type

  • Dashboard Lights
  • Dome Lights
  • Door Lights
  • Footwell

By Technology

  • LED
  • Xenon
  • Halogen

By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles
  • Heavy Commercial Vehicles

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact: 
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com 
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