|12-10-2018 08:38 AM CET - Industry, Real Estate & Construction||
Automotive Interior LED Lighting Market Inclined to Deliver Positive Growth Results until 2022 | Key Players are Hella KGaA Hueck & Co., Osram Licht AG, Magneti Marelli S.p.A., Koito Manufacturing Co., Ltd., Stanley Electric, etc.
Press release from: Fact.MR
In order to study the many forthcoming movements and patterns prevailing in the global market, FactMr has included the latest Forecast report on Automotive Interior LED Lighting Market to its vast database. The delivered study offers significant figures about the leading regions and applications which are functioning in the Global Automotive Interior LED Lighting Market Trends by 2022, along with their market production, consumption, revenue, upcoming industry trends and forecasted market share details. Further, the accomplished market research report also anticipates that the concerned market would grow at a constructive CAGR until 2022.
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Brand Premiumization and Differentiation to Remain Key Factors Driving Automotive Interior LED Lighting Adoption
Originally developed to provide better readability to the driver, interior lightings in automotive have come a long way than just enhancing the car’s interior. With the introduction of LED, the role of interior lighting has been upgraded to being an important brand differentiator. With the help of latest technology, automotive companies are making focused efforts to customize every part of the car’s interior with greater adherence to safety of drivers and road legality. Moreover, the general trend of miniaturization of components is pushing for more versatile application of automotive LEDs for interior lighting.
New Applications to Boost Automotive Interior LED Lighting Market
Considering an increase in the demand for personalized driving experience, consumers are also demanding personalized colors for their interior lighting-transforming cars to a more distinctive and feel-good zone. Customizing the lights are likely to add an emotional component to the rather more conventional use of traditional interior lighting, thereby increasing the demand for automotive interior LED lighting. Moreover, extensive application areas of interior lighting at the functional level will also drive the market for automotive LEDs for interior lighting. Different colored-lighting to indicate economy or sports mode and dynamic lighting sequence in semi-autonomous vehicles to relay information to the driver.
Growing Demand for Autonomous Vehicles to Shift the Functionality of Automotive Interior LED Lighting
Owing to advancing technology and increased acceptance of autonomous vehicles, automotive interior lighting is likely to change significantly-with focus shifting towards conveying more information including current driving mode and battery charge level. Moreover, top automotive manufacturers also predict that interior LED lighting will not just help in navigation and present vehicle information, but also be used for entertainment and communication-achieved through a combination of integrated electronics and automotive interior LEDs.
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Offering long service life and extreme vibration resistance, automotive interior LED lighting is becoming more and more popular. Previously used in high-end vehicles, auto makers are increasingly adopting LED lighting systems in the mid and low-segment cars owing to increasing efficiency and decreasing prices of LEDs amongst other factors such as faster rise time. Moreover, apart from just a personalization feature, use of automotive interior LED lighting makes car interiors look bigger and spacious. Innovations in heat management of LEDs is likely to create manufacturing opportunity considering the hot heat source of LEDs that further lowers its life expectancy. Manufacturers are experimenting with polycarbonate to replace aluminum in the headlamps, also offering additional design freedom.
Competitive Landscape: Global Automotive Interior LED Lighting Market
Hella KGaA Hueck & Co., Osram Licht AG, Magneti Marelli S.p.A., Koito Manufacturing Co., Ltd., Stanley Electric, Koninklijke Philips N.V, Valeo SA, and Texas Instruments are a few key players in the competitive space of the global automotive interior LED lighting market. FactMr’s report on the aforementioned market offers a comprehensive analysis of the company profiles, forward market strategies, and future market prospects. Key players, in order to solidify their market positions and expand the product offerings, are focusing on elaborating the applicability of automotive interior LED lighting and open new manufacturing opportunities.
Key player Hella, aims to use digital technologies to optimize their existing service offerings and digitize automotive lighting. Moreover, considering the shift in the lighting market, OSRAM Licht AG is said to invest around “€3 billion in new technologies and applications by 2020”, of which €2 billion would be spent on R&D to further strengthen the company’s technological leadership and help in market expansion. Valeo SA’s innovation strategy is aimed at developing intuitive operations and reducing CO2 emissions to cater to new market demands pertaining to vehicle electrification.
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