Brand Premiumization and Differentiation to Remain Key Factors Driving Automotive Interior LED Lighting Market
Soaring demand for autonomous vehicles and driver safety are anticipated to be key factors driving the adoption of automotive interior LED lighting through 2022. Fact.MR’s extensive report on the global automotive interior LED lighting market delivers key actionable insights on various dynamics including drivers, trends, and challenges shaping the market over the forecast period of 2017-2022. However, expensive installations and hot heat source, resulting in subsequent LED failure are critical factors restraining the widespread adoption of automotive interior LED lighting, translating into a sluggish CAGR of 2.9% by 2022. Growing popularity of compact cars in APEJ and Europe will contribute significantly to the automotive interior LED lighting market , accounting for approximately one-third of the total revenue share. Moreover, mid-segment vehicles would present notable growth opportunities as opposed to premium vehicles over the forecast period, predicts Fact.MR. The stu...