Automotive Lighting Market: Technological Advancements And Move Towards Digital World Driving Revenue Growth 2019 - 2027

Automotive Lighting Market – Overview

According to Transparency Market Research’s latest research report on the global automotive lighting market for the historical period 2017, base year 2018, and the forecast period 2019–2027, growing demand for systems that can calculate real time data for the aviation industry is likely to fuel the global automotive lighting market during the forecast period

In terms of revenue, the global automotive lighting market is estimated to reach value of US$ 51,809.9 Mn by 2027, expanding at a CAGR of 5.7% throughout the forecast period

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Increasing production of passenger cars: A Key Driver

The inception of passenger cars provided us with independence and freedom of mobility to travel to all places such as educational institutions, office, hospital, remote areas, etc. and thus, vehicles became an essential part of an everyday life

However, in later years, with technological advancements and increasing disposable income of consumers, their demand and expenditure also increased leading to increased spending on safety, comfort and stylish features in the vehicle

Therefore, to fulfil the market demand, the automotive industry is considerably investing in new automotive technologies and potentially strong product areas to attract target customers

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