What's Driving the Automotive Lighting Market Growth? General Electric Company, HELLA GmbH & Co. KGaA, Hyundai MOBIS, Koito Manufacturing Co. Ltd., Magneti Marelli S.p.A., Namyung Lighting, OSRAM Group, Koninklijke Philips N.V., Samsung Electronics Co. Lt

The automotive lighting market report encompasses an in-depth analysis of the business space in question. All the growth facilitators responsible for furling the revenue scope of this industry are mentioned in the study in conjunction with the competitive and geographical trends characterizing this business. Some of the very pivotal parameters encompassed in the report fall along the lines of industry segmentation, industry ecosystem analysis, vendor matrix, and industry insights.

Over the last few years, with the increasing importance imparted to aesthetic and ergonomics of the vehicles' interior as well as exterior, the design approach of contributors in the automotive lighting industry has indeed changed. They are now giving preference for the advancement of infotainment systems that will turn out to be rather beneficial for them in terms of revenue generation. As of now, the extensive use of LEDs for deploying lighting systems in vehicles will further stimulate the automotive lighting market size.

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Technology evaluation:

Technology categorization: As per the report, the Technology landscape of the automotive lighting market is split into -

o LED
o Halogen
o Xenon

Significant aspects concerning the Technology landscape that are entailed in the report:
o Substantial details about the Technology spectrum of automotive lighting market are provided in the report.
o The study mentions the revenue projection of the Technology categories by the end of the forecast duration.
o The market share that every Technology segment will accumulate is given in the report.
o The current and future trends characterizing the Technology landscape are also provided in the report.

Vehicle Type evaluation:

Vehicle Type categorization: As per the report, the Vehicle Type landscape of the automotive lighting industry is split into -

o Passenger Cars
o Commercial Vehicles
o Two-Wheelers
Significant aspects concerning the Vehicle Type landscape that are entailed in the report:
o Substantial details about the Vehicle Type spectrum of automotive lighting market are provided in the report.
o The study mentions the revenue projection of the Vehicle Type categories by the end of the forecast duration.
o The market share that every Vehicle Type segment will accumulate is given in the report.
o The current and future trends characterizing the Vehicle Type landscape are also provided in the report.

The revolutionary development of high-performance light sources is also one of the approaches undertaken by companies to gain a competitive edge over their rivals in the automotive lighting market. The growing awareness among the product developers about energy efficient lighting systems has been encouraging them to adopt new business tactics focused around this parameter. Merely a few months before, LG Electronics acquired the well-known automotive lighting and headlight systems provider, ZKW Group. This strategic merger has allowed LG to extend its regional reach across U.S., China, Mexico, and several countries in Europe continent.

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All in all, it would be accurate enough to quote that the transformation in conventional lighting systems has enhanced automotive lighting industry trends over the last few years. Tech companies have also been conducting continuous research and development activities to introduce optimized and cost-effective lighting systems. Powered by the surging utilization of modern lighting systems in next generation vehicles, automotive lighting market will register a CAGR of 5% over 2018-2024.

The automotive lighting market research study is inclusive of a massive evacuation of the industry in question. The methodology used to derive valuable insights pertaining to the automotive lighting industry as well as the primary and secondary sources referred to have been elaborated in the report. Information pertaining to the financial data of mentioned shareholders and the present pricing trends are enumerated in the study.

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