Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 09/19/2017 -- In-vehicle infotainment (IVI) or In-car entertainment (ICE), is a collection of software and hardware in vehicles that offers audio or video entertainment. It was instigated with car audio systems. However, ICE have technologically developed and include navigation systems, USB connectivity, video players, Bluetooth connectivity, Carputers, WiFi and in-car internet. Electric vehicles or electric drive vehicles are vehicles that uses one or more traction motors or electric motors for propulsion mechanism. Lighting for In Car Entertainment & Electric Vehicles includes all types of lighting systems that are being used for the purpose of infotainment or are used in the electric vehicles for a variety of purposes.
The global lighting market for In Car Entertainment & Electric Vehicles is likely to show a robust growth during the forecast period. Some of the reasons for the growth of the lighting market for In Car Entertainment & Electric Vehicles are increase in vehicle production as well as lighting applications, particularly in passenger cars. Moreover, the market for electrical vehicle lighting is likely to grow at a double digit CAGR. Increase in sales of electric vehicles owing to government initiatives, environmental awareness and strict vehicular emission norms. Moreover, factors including passenger and pedestrian safety norms and rising demand for comfort, luxury, and ambience are likely to drive the technological advancements in the lighting market for In Car Entertainment & Electric Vehicles. These factors are expected to boost the growth of the overall lighting market for In Car Entertainment & Electric Vehicles.
The global lighting market for In Car Entertainment & Electric Vehicles can be segmented by position, lighting technology, vehicle type, application and by region. By position the market can be divided into front, side, rear, and interior. The front lighting segment held the maximum share of the market in 2016. In terms of lighting technology, the lighting market for In Car Entertainment & Electric Vehicles is classified as Xenon/HID, Halogen/incandescent, and LED. The LED segment is likely to grow at the maximum CAGR during the forecast period of 2017 to 20125. The advantages of LED including bright illumination, reduced energy consumption, lower temperature and flexibility in designing are likely to propel the impressive growth of the segment.
By vehicle type, the global lighting market for In Car Entertainment & Electric Vehicles can be segregated into passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). The passenger vehicle segment accounted for the major share of the market in 2016 owing to the rising demand for infotainment in cars as well as growth in the number of electric vehicles in this segment. On the basis of application, the global lighting market for In Car Entertainment & Electric Vehicles is divided into exterior (head, tail, side, fog, CHMSL, and DRL) and interior (glovebox, dashboard, reading, rear view mirror and dome).
In terms of geography, the global lighting market for In Car Entertainment & Electric Vehicles can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is likely to dominate the global market due to progress in the economic conditions, increasing vehicle production, and rising investments by leading industry players in the region. Japan, China and India are likely to be the major growth contributors of this region.
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The global market is consolidated and is dominated by some key players. These players account for the major share of the overall market. Some of the major players operating in the global lighting market for In Car Entertainment & Electric Vehicles are Hella KGaA Hueck & Co. (Germany), Magneti Marelli (Italy), Osram (Germany), Stanley Electric (Japan), and Koito Manufacturing Co., Ltd (Japan).
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