Selbyville, Delaware, United States, November 18 2020 (Wiredrelease) Global Market Insights, Inc :How will the automotive switch market register revenue growth between 2020-2026?
The automotive switch market is poised for stellar growth on the back of burgeoning production and sales of new, technologically advanced vehicles in the coming years. Automakers are adopting automotive switches to support new integrated functionalities in their vehicle makes. These switches are used to support vehicular features like telematics, Bluetooth, driver assistance technologies, and infotainment systems.
Vehicle manufacturers are also leveraging IoT technology to develop cutting edge automotive features like connected Cars and Vehicle-to-Anything (V2X) communications, driving the demand for automotive switches. Burgeoning sales of LCVs and HCVs, which require a multitude of automotive switches, could stimulate the growth trajectory of global automotive switches market.
With profound product significance, Global Market Insights, Inc., suggests that the automotive switch market may exceed USD 16 billion by 2026.
Considering the markets completive landscape, companies like COBO S.p.A., Continental AG, CK Components, Alps Electric, Inc, GSK InTek Co., Ltd., Delphi Technologies, Hella KGaA Hueck Co., Marquardt GmbH, Leopold Kostal, Omron Corporation, Standard Motor Products, Panasonic Corporation, Tokai Rika Co., Ltd., Robert Bosch GmbH, Valeo, Vimercati SpA, Toyodenso, Preh GmbH, and ZF Friedrichshafen AG are currently focusing on developing new and advanced automotive switches.
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APAC is expected to offer lucrative growth opportunities to the automotive switch industry owing to the increasing demand for advanced vehicles in the region. Notably, nations such as India, China, and Japan are increasingly adopting vehicles with enhanced features such as driver-assistance, safety, and infotainment systems.
Countries in APAC are also witnessing a burgeoning popularity for electric vehicles. These vehicles basically require a large number of automotive switches to support multiple electronic systems. Meanwhile, industry participants in the region are focusing on boosting product export to automobile OEMs primarily to gain a competitive edge over other firms in the automotive switch business.
Push-buttons are extensively used in vehicles to regulate the functioning of volume control systems, radio control systems, vehicle mode control, ignition control and channel control systems. To enhance accessibility and comfort for users, automakers are trying to come up with new improvements in push-button systems.
Taking Jan. 2018 as an instance, GMC introduced its 2018 GMC Terrain SUV in the North American International Auto Show which was integrated with both button toggle switches for transmission control, located beneath the air conditioning control system on the center console for better accessibility. Such initiatives by automakers could aid passenger comfort, as well as drive the demand for push-buttons in the automotive industry.
Companies operating in the automotive switch industry are leveraging organic as well as inorganic growth strategies like new product launches, forming alliances to strengthen existing partner network, and getting involved in new markets across developing economies to strengthen business reach.
Taking an instance to highlight the same, in Nov. 2019, Diodes Incorporated., a U.S.-based semiconductor manufacturer, introduced PCIe 2.0 packet switches that are automotive compliant. These packet switches offer 3 4 port lanes and can be used for numerous automobile applications such as navigation assistance, telematics, in-vehicle routers, ADAS, and V2X/V2V communications.
The new product helped Diodes Inc. to deliver highly interoperable and low latency automotive switches to its clients. New product launch by industry participants may thereby accelerate the growth prospects of automotive switch market growth over the forecast timeframe.
Chapter 1Methodology Scope
1.2.1Methodology and forecast parameters
1.2.2Industry insights and validation
Chapter 2Executive Summary
2.1Automotive switch industry 3600 synopsis, 2015-2026
2.4Vehicle type trends
Chapter 3Automotive Switch Industry Insights
3.2Industry landscape, 2015-2026
3.2.1Global automotive industry landscape, 2015-2026
3.2.2Global automotive production statistics, 2015-2018
3.3Industry ecosystem analysis
3.3.4Distribution channel analysis
3.4Technology innovation landscape
3.4.1Haptic sensor technology
22.214.171.124Touch screen switch panels
126.96.36.199SAE J 1211-2012 (SAE J1211-2012)
188.8.131.52SAE AS 5553C-2019
184.108.40.206Motor Vehicle Framework Directive 2007/46/EC
220.127.116.11Australian design rules
18.104.22.168UAE Vehicle Control System Standard
3.6Industry impact forces
22.214.171.124Growing implementation of electronic systems in vehicles
126.96.36.199Increasing adoption of electric vehicles globally
188.8.131.52Rising demand for comfort safety systems in vehicles
184.108.40.206Increasing demand for passenger vehicles in Asia Pacific
3.7Growth potential analysis
3.9.1Company market share analysis
220.127.116.11 Incorporation of touch screen panels
18.104.22.168 Introduction of gesture recognition system in vehicles
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