LONDON--(BUSINESS WIRE)--The global luxury car ambient lighting system is expected to post a CAGR of more than 12% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Luxury carmakers are introducing configurable lighting systems that allow vehicle occupants to adjust the color and intensity of the ambient lights based on their personal needs. For instance, the configurable ambient lighting systems in Jaguar F-Type and Jaguar F-pace turn red on door grab handles, center console, and instrument cluster upon activating the dynamic mode. Such innovative features act as product differentiators and help increase profit margins for luxury car manufacturers. The increasing adoption of configurable lighting system is expected to fuel the growth of the market during the forecast period.
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As per Technavio, the development of integrated comfort features in luxury cars will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Luxury Car Ambient Lighting System Market: Development of Integrated Comfort Features in Luxury Cars
Luxury car manufacturers are integrating ambient lighting systems with various features such as climate control, seat heating/cooling, massaging functions, audio systems, fragrance dispersing systems, and others. For instance, the integrated ambient lighting system in the Mercedes-Benz S-Class changes according to the car’s ambient temperature and allows the user to set five intensity levels for four separate zones within the cabin. Such features eliminate the need for separate control systems, thereby reducing power consumption. This trend is expected to boost market growth during the forecast period.
“The development of single-chip LIN-LED driver ambient lighting and the integration of fiber optic ambient light into leather/vinyl surfaces will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Luxury Car Ambient Lighting System Market: Segmentation Analysis
This market report segments the global luxury car ambient lighting system market by application (executive luxury cars and super luxury cars) and geography (APAC, Europe, MEA, North America, and South America).
Europe led the market in 2018, followed by APAC, North America, South America, and MEA respectively. However, during the forecast period, APAC is expected to emerge as the largest market for luxury car ambient lighting system. This is due to the rising demand for super-luxury cars in developing countries such as India.
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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
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
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