The Rise of Advanced Automotive Lighting in Europe and North America: Convenience and Safety Features Provide Key Growth Opportunities

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Sep 29, 2023, 14:15 ET

DUBLIN, Sept. 29, 2023 /PRNewswire/ --As vehicles increasingly incorporate advanced lighting solutions for both style and safety, the North American and European automotive exterior lighting markets are witnessing robust growth. An insightful report, "Growth Opportunities in North American and European Automotive Exterior Lighting Market now available on ResearchAndMarkets.com, offers an in-depth exploration into these dynamics, highlighting technological, regulatory, and trend-based shifts.

Automotive exterior lighting has transitioned from a stylistic accessory to an indispensable safety component. This evolution is further spurred by the adoption of innovative technologies like LED, OLED, and laser lighting. These advancements - such as matrix LEDs, OLED tail lamps, digital lighting, and laser headlights - are elevating exterior lighting to new horizons.

The market's valuation, starting at $15.96 billion in 2022, is forecasted to climb to $19.24 billion by 2030, marking a CAGR of 2.4%. This extensive study sheds light on various lighting technologies, including LED, halogen, laser, and OLED, for both frontal and rear exterior applications. It equips stakeholders with the insights they need to navigate the shifting regulatory terrains of North America and Europe, capitalizing on emerging growth avenues.

Key Insights from the Report:

Definition and Diversity of Automotive Exterior Lighting: Unpacks the various types and subtypes, giving readers a clearer understanding.
Market Drivers and Restraints: Provides an understanding of the key factors propelling and inhibiting market growth.
Technological Impacts: Evaluates the effects of emerging technologies and trends on the European and North American markets.
Future Projections: Offers growth forecasts for the automotive exterior lighting market in both regions up to 2030.

Growth Opportunity Universe

Growth Opportunity 1: Convenience and Safety Features
Growth Opportunity 2: Market Consolidation and Reduced Marginal Cost
Growth Opportunity 3: Product Differentiation

The research dives deep, presenting meticulous analyses on various sub-segments. Topics range from the strategic imperatives impacting exterior lighting to the growth opportunities present within. Also covered are forecasts, competitive environments, and technology breakdowns for both European and North American markets.

This pivotal report serves as a navigational tool for industry stakeholders, enabling them to tap into lucrative opportunities and make informed decisions.

For more information about this report visit https://www.researchandmarkets.com/r/81bvve

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SOURCE Research and Markets