Automotive Perimeter Lighting System Market Expected to Exceed $2.6 Billion by 2030, MarkWide Research Reports
According to a new report published by MarkWide Research, titled, “Automotive Perimeter Lighting System Market,” the global market for automotive perimeter lighting systems is expected to exceed $2.6 billion by 2030, displaying a robust CAGR of 6.2% during the forecast period from 2023 to 2030.
Automotive perimeter lighting systems play a crucial role in enhancing vehicle safety and security by providing improved visibility around the vehicle. The market’s growth is driven by increasing demand for advanced safety features, vehicle electrification trends, and innovations in automotive lighting technology.
Key findings from the report:
- Safety and Visibility: Perimeter lighting systems enhance driver awareness and pedestrian safety in low-light conditions.
- Electrification: Electric and hybrid vehicles incorporate perimeter lighting for energy-efficient illumination.
- Advanced Features: Perimeter lighting systems are evolving with features like adaptive lighting and connected vehicle integration.
- Market Competitors: Leading players in the automotive perimeter lighting system market include HELLA GmbH & Co. KGaA, Osram GmbH, and Magna International Inc., who continually innovate to meet evolving industry demands.
The report predicts substantial growth in the global automotive perimeter lighting system market as vehicle manufacturers prioritize safety and driver assistance features. MarkWide Research’s comprehensive analysis provides insights into the market’s current landscape and future trends, empowering industry stakeholders to make informed decisions and capitalize on opportunities in the automotive lighting market.
MarkWide Research is a leading market research and consulting firm, providing in-depth analysis and strategic insights across various industries. With a team of experienced analysts, MarkWide Research is committed to delivering actionable intelligence, assisting clients in making informed business decisions and achieving sustainable growth.