Increasing Demand For Effective Automotive Interior Lighting to Boost Growth

The automotive lighting market is poised to grow by $ 12.98 bn during 2021-2025, progressing at a CAGR of 8.80% during the forecast period, according to Technavio.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Increasing demand for effective interior lighting has been instrumental in driving the growth of the market. However, the High cost of LED lamps might hamper the market growth.